Barroway completes sale to become Coyotes' sole owner

Andrew Barroway holds all of the cards.

The Philadelphia-based hedge fund manager became the sole owner of the Arizona Coyotes on Monday upon completion of his transaction to buy out the club's minority owners, according to multiple reports.

Barroway initially purchased a majority stake in the Coyotes in December 2014, while Monday's move sees him attain full ownership of IceArizona, LLC, a group backed by Anthony LeBlanc and George Gosbee among other minority partners, who purchased the Coyotes in 2013.

Prior to the sale to IceArizona, the league held ownership of the Coyotes for a four-year period beginning in 2009.

The full sale to Barroway means LeBlanc, who doubled as the Coyotes' president and CEO, and co-owner Gary Drummond, who later became the Coyotes' president of hockey operations, will relinquish those roles at the end of the month, according to Sportsnet's John Shannon.

"The reorganization is an effort to consolidate and strengthen the ownership and to resolve various disputes among the existing owners," NHL deputy commissioner Bill Daly told Craig Morgan of Arizona Sports. "We believe this will better position the club to achieve a long-term solution in the Valley."

The Coyotes' focus will now turn to ensuring their future in the desert. The team has one year remaining on its lease at Gila River Arena in Glendale.

Earlier this year, a proposal to build a new arena on the campus of Arizona State University fell through. Meanwhile, a subsequent discussion to build a new facility in the East Valley has garnered little support from the Arizona legislature.

According to Morgan, a new arena in downtown Phoenix is among the top possibilities being considered by Barroway.