Ownership of the Arizona Coyotes could be changing hands, yet again.
Majority owner Andrew Barroway has an opportunity to increase his stake in the franchise by buying out the minority partners of IceArizona LLC, according to Craig Morgan of Arizona Sports.
Barroway, who bought a 51 percent stake of the Coyotes in December 2015, is seeking additional investors to facilitate the sale, with Morgan indicating two minority partners of the Tampa Bay Rays could join the Coyotes' new ownership structure.
The Coyotes have long been mired by ownership issues and relocation rumors. The club has a lease agreement at Gila River Arena in Glendale through next season, however, the Coyotes seek a new arena in downtown Phoenix or the East Valley, closer to the team's season-ticket holders and corporate sponsors. The Coyotes have played in Glendale since 2003.
After a proposed agreement fell through to build a new arena on the Arizona State University campus, the Coyotes have since been involved with the state legislature on a $395-million deal that would permit a new arena to be built in the Valley of the Sun. The deal is not expected to garner the needed support.
Earlier this month, NHL commissioner Gary Bettman penned a letter to the state leaders, noting that it is no longer financially viable for the club to remain in Glendale and that the Coyotes need a new arena location to stay in Arizona.
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