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Rumor: NHL owners of struggling team looking to sell their shares.

Partial sale of NHL team could have big ramifications.

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The timing of this announcement could not be more suspicious.

With their proposed arena deal being soundly rejected by Arizona's government and Arizona taxpayers, the Arizona Coyotes have been left scrambling for a new place to play. While both the Coyotes and the National Hockey League have denied rumors of a possible relocation all along the way, the talk has persisted and this latest development will only add fuel to the fire.

A report from Craig Morgan of Arizona Sports has revealed that minority owners in the Coyotes are looking for a potential buyout for majority owner Andrew Barroway, this comes just days after their proposed arena deal fell apart.

From Morgan:

The Coyotes minority owners have given majority owner Andrew Barroway the option of buying them out by early summer, multiple sources have confirmed.

Barroway is exploring bringing in new partners to raise the money necessary to do so, with Tampa Bay Rays minority owners Randy Frankel and Timothy Mullen mentioned as two possibilities for a newly constructed ownership group.

It's unclear what this will mean for the Coyotes in the long-term but the deadline for this buyout is rumored to be June 6th and we will likely know more at that point.