Arizona Coyotes owner Andrew Barroway remains in ongoing negotiations to sell a majority stake of the franchise and progress is slowly being made with one group, several league sources have told TFP.
Barroway has been in talks with multiple groups interested in purchasing the Coyotes, and while most with knowledge of the situation have categorized the process as a roller coaster ride, it appears they are gaining ground and heading down the right path.
Some internal noise around the NHL on Monday suggested a deal could soon be on the horizon with that one group, though one league executive reiterated to TFP nothing is imminent. This league source did, however, confirm a deal will “come to fruition at some point before the start of next season,” if not sooner.
In every discussion Barroway has had about selling the franchise, he’s made it clear he wants to keep a piece of the team – the percentage won’t be known until terms of the sale are agreed upon and approved by the NHL.
There is some chatter that negotiations have re-opened with ASU about an arena collaboration. In February 2017, Arizona State University pulled out of development plans that would have included new homes for the Coyotes and Sun Devil Athletics.
A day earlier, TFP reported:
There are two legitimate groups interested in purchasing the Coyotes, with a third rumoured to be in the mix. The debt inquired by current owner Andrew Barroway, however, is one major obstacle. The other: A new building. But a new building won’t happen until a new owner/ownership group is on board.
