Alex Meruelo on Monday became majority owner of the Coyotes, making history in the process as the first Latino to have controlling interest of an NHL team.
“This is an incredible moment for me and my entire family,” Meruelo, 55, said in a statement. “The Arizona Coyotes team is poised to do great things on and off the ice. I look forward to helping hockey continue to thrive in the desert, and I am committed to providing our passionate fans, loyal partners and the entire state of Arizona with a team they can be proud of for years to come.”
Forbes.com reported the sale price at $300 million – much lower than initial reports that had the figure in the $400 million to $450 million range – and last month described a franchise that has been hemorrhaging money.
The son of Cuban immigrants, Meruelo, who got his start in his father’s tuxedo business, bought controlling interest of the team from Andrew Barroway, who will retain a minority share.
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