It would seem that the Arizona Coyotes have once again landed themselves in a hot mess.
There are now once again rumors circulating around the National Hockey League that not only is Coyotes owner Andrew Barroway perhaps in a little too deep in terms of his financial obligations but that he may in fact be looking to sell the team, or at least partial ownership of it. None of these rumors have been substantiated at this time but on Friday National Hockey League insider Adrian Dater was able to share some details about what may in fact be going on behind the scenes in Arizona right now.
First we'll touch on the rumors that the Coyotes have seemingly confirmed to Dater. According to Dater's report it is now well known within NHL circles that Barroway is in fact looking to make a significant change in terms of ownership although the Coyotes would not acknowledge that he was looking to sell the team outright. Instead according to Dater they have acknowledged that Barroway is seeking new partners to bring in as part of a new ownership group, this after Barroway bought out his previous partners in this venture.
This however in no way acknowledges the financial concerns that are apparently plaguing the Coyotes at this time, so seemingly the Coyotes won't be commenting on that issue. Dater did add however that an NHL source informed him that there is "no truth" to the rumors that the NHL has once again had to start paying some of the Coyotes' bills to keep them afloat in their league. Whether that is a public relations move by the source or legitimate is anyone's guess at this point.
With no clear answer forthcoming in that regard Dater did some digging and has been able to find something. Dater is not reporting this as a fact but he did add that there is a belief that MGG Capital may be applying financial pressure to Barroway. MGG Capital is one of the businesses that made a significant loan to Barroway, a loan that eventually enabled him to take full control of the Coyotes, and now it sounds like they may want their money back, or at least some of it.
The news will likely come as very little surprise to fans of the National Hockey League who have watched the ongoing develops in Arizona for years now, seemingly never with good news forthcoming from that part of the hockey world. The team has been in a state of financial ruin on more than one occasion and things got so bad in the past that the NHL itself had to take over ownership of the organization, something that was not a good look for the league.
For the record I would much rather seethe Coyotes organization succeed instead of watching it fail over and over again every season, but this just seems like the latest chapter in a seemingly never ending issue for the Coyotes. It will be interesting to see what, if any, announcements are made by Barroway himself or the NHL in the coming days.
Photo Credit: Keystone Press