Sources further report Barroway, a Philadelphia-based hedge fund manager, is buying 51 percent based on a recent $305 million valuation of the franchise, which was purchased by RSE for a reported $170 million. The NHL had paid $140 million to get the team out of bankruptcy.
A separate source told The Post the NHL has been seeking investors for the franchise over at least the last few weeks.
I....don't actually know what to think.
No frenzy on my end or anything, but wow-if indeed there is smoke and fire here and not just a red herring.
I think it is a fair question to ask are the upgrades and this new buy-in related? I wouldn't think so because it takes a lot of time to set up stuff to purchase and do the renovations.
Be interesting to see where this goes, and how the arrangement with IA works out.
300 Million valuation? Wow-I'm assuming that's with the arena?
Again, would like to see more confirmation before going further...
Since this story came from the NY Post, I'll file it under the same "non starter" heading as the Quebec minister who said the province could help finance the effort to get an NHL franchise in Quebec City.
A stunning turn, but not a shocking move... IA is not a rich group and I could see Bettman facilitating this deal to make his legal action against Wang go away.
For his part, Barroway probably sees the Coyotes as a moveable asset in a few years time thus worth paying for
Phoenix sold again?
Shocking... Just move it already.
I think it is a positive. The value of the team has appreciated. That is never a bad thing.
If there wasn't a lease in the way preventing the team from moving the team probably would been relocated.
There was no lease for three years and it still didn't happen.
the NHL doesn't like having their laundry aired in court. Don't listen to what Daly says, he means almost none of it