News Article: Part Owner Andrew Barroway Arrested in Aspen, CO (UPD: Charges dropped)
- Thread starter Yotes2000
- Start date
I assume Meruelo is the likely candidate to absorb Barroway's slice of the team. I'm sure he's not happy about needing this expenditure at this time when everything has been about keeping costs down due to the upcoming deposit needed. I'm also not sure if Barroway's legal issues will cause a delay in the sale. If Meruelo has to buy it, then he probably wants it now while there is uncertainty with the future, rather than in say a month after a positive election result when the team value may increase.
Forbes and Sportico each have the Coyotes worth around $450 million. 5% is $22 million but I'm guessing the Coyotes are still loaded with tons of debt and an actual buyout would be significantly less.
I wonder if in the future AM will sell a nice chunk of the team, say 20% to 40%, once TED gets approved, under construction or built. He will already have his land deal, the Coyotes will be locked in as a tenant for (40?) years, and the gaming license is also already secured. He would have effectively bought low, sell high, and still maintain majority control.
I wonder if in the future AM will sell a nice chunk of the team, say 20% to 40%, once TED gets approved, under construction or built. He will already have his land deal, the Coyotes will be locked in as a tenant for (40?) years, and the gaming license is also already secured. He would have effectively bought low, sell high, and still maintain majority control.
Team value would decrease after the arena approval because it's no longer portable and Meruelo is the one profiting from the overall development. It's worth much more to a potential buyer as a portable asset with an existing roster and a boatload of draft picks. This represents competition for expansion dollars - which are minted out of thin air for all owners - and is why Bettman is so protective of Arizona.
Assuming Meruelo can actually secure the LOC necessary to build the TED at an interest rate that isn't crippling, he is set up to profit regardless of which way the vote goes.
RSNs no longer paying out is a much bigger issue than Barroway.
I disagree, I think the value goes up if the arena deal passes. The Coyotes will then have a secure home in a great location that can help generate the revenue needed to make the franshice finally work like a real NHL business. The NHL has made it clear for 25 years that they aren't leaving the Phoenix market, this asset is not portable.
RemoAZ
Let it burn
There's a friend of ours in Vegas that will make him an offer he can't refuse.I'll make him go away for half that.
100% correct. With Ottawa having securing an owner that is forking over $1 billion, every franchise value just increased, and with expansion talk and whatever the new benchmark is will also increase the value.
TheLegend
Megathread Gadfly
I think it’s safe to say franchise values aren’t going to go down.
The Coyotes’ value actually went up this past year (according to Forbes) in spite of moving into a college arena.
Plus I doubt Meruelo would sell the franchise if he gets TED built. If he were to, it would include TED along with it. That’s what Steve Ellman planned to do all along once he had Westgate built out. It just makes for a very attractive package.
I would think a buyout of Barroway is going to run into somewhere around $30 million. That 5% of $600 million which is actually above the Coyotes’ current value.
The Coyotes’ value actually went up this past year (according to Forbes) in spite of moving into a college arena.
Plus I doubt Meruelo would sell the franchise if he gets TED built. If he were to, it would include TED along with it. That’s what Steve Ellman planned to do all along once he had Westgate built out. It just makes for a very attractive package.
I would think a buyout of Barroway is going to run into somewhere around $30 million. That 5% of $600 million which is actually above the Coyotes’ current value.
That could be. We also don't know if Barroway's share is owned outright or secured via loan(s), and we don't know if there is overlap between Barroway's and Meruelo's lenders, where Meruelo can work out a deal to just increase his borrowing to take over Barroway's shares by increasing his own loan repayments.
If the overall valuation of the Coyotes has gone up, Meruelo's equity share has gone up and he may be able to increase his borrowing to payout Barroway just by increasing his repayments rather than scrambling to free up the funds through his businesses to buy him out on his own.
100 ways to work it out, Barroway will be out as an owner this year. He is basically out now, owning a minority at 5%, not going to games, zero executive role, it won't be hard to sell his shares.
Kai Yo T
Registered User
Let's all put our pennies together and buy him out.
Coyotedroppings
Registered User
- Jul 16, 2017
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RemoAZ
Let it burn
Values may be going up but we can never find a gazzillionare that will buy the damn Coyotes, at least one that wants to own them here. We need a Mark Cubaneske owner with F-you money that can buy the team and fix all the stadium issues without any freaking drama. Not sure why we've never attracted anyone. Great place to live, one of the fastest growing states in the country, year round golf, short hop to Vegas, LA, etc...
TheLegend
Megathread Gadfly
Everyone of those “gazillionaires” would do exactly what Meruelo is doing now.
Glendale would Glendale all over again, the NIMBYs Of Tempe, etc….. etc…..
TheLegend
Megathread Gadfly
A bit more descriptive of the events than Katie Strang's article (then again it is the NY Post). Sounds like this was a marriage made in hell. Still no excuse for Barroway's behavior.
nypost.com
Coyotes minority owner Andrew Barroway arrested for allegedly strangling wife
Arizona Coyotes minority owner Andrew Barroway was arrested on Thursday in Aspen, Colo., where he was accused of strangling his wife.
nypost.com
rt
The Kinder, Gentler Version
These people are not like the rest of us. Every bit of that was just so depressing and bleak. Man, I sure hope they are able to get some help and perspective and get things together.A bit more descriptive of the events than Katie Strang's article (then again it is the NY Post). Sounds like this was a marriage made in hell. Still no excuse for Barroway's behavior.
Coyotes minority owner Andrew Barroway arrested for allegedly strangling wife
Arizona Coyotes minority owner Andrew Barroway was arrested on Thursday in Aspen, Colo., where he was accused of strangling his wife.
Yotes2000
Registered User
Dude is a creep, period.. people inside the team have known this for a long time but in order to complete the sale to Meruelo he wanted to stay on as Minority owner.
Hopefully this gives Meruelo the out that he's wanted for a long time
Hopefully this gives Meruelo the out that he's wanted for a long time
They are exactly like anyone else with addiction problems. Like you, I hope they get help.
That is a pretty big assumption on your end.
It’d be nice if we could find a way to get like Larry Fitzgerald to buy a share like he did with the Suns. Get some valley icon to join in so that it gets some collective good will for the team
