July 29, 2019 - 1:45 pm
Updated July 29, 2019 - 2:22 pm
GLENDALE, Ariz. — Alex Meruelo has completed his purchase of the controlling interest in the Arizona Coyotes.
The team announced Monday that Meruelo completed the transaction with Andrew Barroway to become Arizona’s majority owner. Meruelo becomes the only Hispanic controlling owner of an NHL team.
The NHL’s Board of Governors approved the sale in June.
A 55-year-old billionaire, Meruelo founded the California-based Meruelo Group, with roots dating to 1986. Meruelo’s portfolio of businesses includes casinos, real estate, television and radio stations, and food services.
Meruelo owns the Sahara Las Vegas and Grand Sierra Resort in Reno.
Barroway bought a majority share of the Coyotes in 2014 and became the sole owner in 2017 after buying out his partners.
The Coyotes have gone through multiple owners since relocating from Winnipeg in 1996, including a four-year stint when they were run by the NHL.