AP source: Andrew Barroway becomes Coyotes' sole owner
A person with direct knowledge of the transaction says Andrew Barroway has bought out the minority owners of the Arizona Coyotes and is now the team's sole owner.
The person spoke to The Associated Press on condition of anonymity Monday because the deal has not been announced. The person says Barroway is committed to keeping the Coyotes in Arizona.
''The reorganization is an effort to consolidate and strengthen the ownership and to resolve various disputes among the existing owners,'' NHL Deputy Commissioner Bill Daly said. ''We believe this will better position the club to achieve a long-term solution in the Valley.''
Barroway bought a controlling interest in the team from the IceArizona group of Canadian businessmen in 2014. The Philadelphia hedge fund manager previously attempted to buy the New York Islanders from Charles Wang and filed a lawsuit saying Wang backed out of the deal.
The NHL's board of governors must approve any ownership changes and could do so at its meeting later this month.
Canadian TV network Sportsnet was the first to report the transaction.
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