Who Owns The Phoenix Coyotes?
Alex Meruelo owns the Phoenix Coyotes after purchasing the 95% stakes to become the sole owner of the franchise in 2019.
Meruelo is a Cuban-American businessman and billionaire who owns the Sahara Las Vegas, Fuji Food, Grand Sierra Resort, and several television and radio stations. Additionally, he owns Colom Island, which is a small 143-acre island located in the Mediterranean Sea.
The transfer of ownership to Meruelo from the then-sole owner, Andrew Barroway of the Coyotes, was approved unanimously by the NHL's Board of Governors in 2019. Barroway Retained a minority stake in the team after the sales.
The 59-year-old became a millionaire in his early 20s after selling a plot of land to Walmart. His family had moved from NY to California, where he attended college and got his start in the business world.
At 23, Meruelo purchased a failing local pizza restaurant and in 5 years, turned it into a franchise named "La Pizza Loca" with 12 locations and $10 million in sales. From there on he started to expand the scope of his business, founding the Meurelo Group.
The Meurelo Group, a construction and real estate development firm, has owned Commercial Bank of California, several Radio Stations, two television stations, resorts and casinos in Las Vegas, and Fuji Food.
Meruelo is looking to buy out Barroway's 5% stake to become the sole owner of the team. Barroway was indefinitely banned from the NHL by Commissioner Gary Bettman on March 27, 2023, after he was arrested on domestic violence charges four days earlier.