Report: Coyotes owner looking to sell 49 per cent of team

Posted On: Jul 17, 2018   |   Posted By: Sportsnet

Arizona Coyotes owner Andrew Barroway is looking to sell a 49 per cent stake of the team at a valuation of $500 million, Forbes' Mike Ozanian reports .
Barroway is looking to sell part of the team despite becoming the majority owner of the club in Dec. 2014 and the sole owner in June 2017 after he reportedly bought out the rest of his ownership partners' 49 per cent share of the team.
Now it would appear Barroway would like to go back to being just a majority owner, controlling only 51 per cent of the organization.
And according to Sportsnet's John Shannon the reason why Barroway wants do such a deal is obvious.
“It's a cash grab,” Shannon said on Prime Time Sports Tuesday evening.
The financial woes the Coyotes have faced since the club moved from Winnipeg have been well documented, and despite all evidence saying otherwise, Shannon believes trying to make the Phoenix/Glendale market work for hockey has now become a personal mission of NHL commissioner Gary Bettman's.
“Gary is really very much still in the...

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