Coyotes owner buys out fellow owners, time to pretend this helps build new arena somehow

The Arizona Coyotes‘ mostly silent majority partner, hedge fund manager Andrew Barroway, has bought out the rest of his ownership partners, including the far less silent CEO Anthony LeBlanc, for an undisclosed price. And naturally, somebody thinks that regime change will mean a new life for plans for a new arena:

Sure, okay? KPNX-TV reports that “Phoenix insiders say Suns owner Robert Sarver wants nothing to do with the Coyotes [and] LeBlanc’s departure might change that,” so maybe Barroway is a more personable guy or something, and now arena partnerships will abound! Or at least Barroway will remember to invite his partners to his arena press conference, which would be a start!

The problem remains how to find money to pay for a new arena, when this whole thing started because the Coyotes ownership didn’t want to keep playing in their old new arena unless they were paid a hefty annual fee to do so. Sharing costs between the Suns and Coyotes owners will help some, but then they’ll have to share revenues as well (can’t sell naming rights to a building twice just because two teams play there), so it hardly is a panacea. Maybe it gives some new life to, or at least an excuse for new tweets about, Mayor Greg Stanton’s Rube Goldberg scheme of using tax money to pay for a new arena while pretending not to use tax money to pay for a new arena, but since it’s not like money operates differerently for Barroway than for LeBlanc, I don’t see where this changes much other than the names on the letterhead.

7 comments on “Coyotes owner buys out fellow owners, time to pretend this helps build new arena somehow

  1. Leveraging an already heavily leveraged buyout?

    Barroway Buys All Of Arizona Coyotes In LBO

  2. Arizona Coyotes Owner Andrew Barroway Buys Out Partners For $240 Million

  3. “can’t sell naming rights to a building twice just because two teams play there”

    Shhh… don’t give them any ideas! I’m sure the Sixers would like to be able to secure separate naming rights, with a company that’s willing to be become a business partner, for their home arena, assuming nothing has changed since 2015.

    • Actually I think this could work. Recall how the Allianz Arena in Munich has an outer skin that changes colors depending on which Munich soccer team is playing. So it would be possible to perhaps have a Phoenix arena decked out in an airline colors and name for the Suns, then in some casino’s colors and name for the Coyotes. Oh, man this is huge, I’m gonna be making dozens of dollars.

  4. I see no reason why naming rights can’t be sold on a “team” or franchise basis. They aren’t currently, in most cases the rights are attached to the facility proper,and cover “all” events at the facility.

    There are some cases where the naming rights to the sports playing surface have been sold separately from the building (Edmonton’s football team sold naming rights to the field at the publicly built, maintained, operated and named stadium in which they play), or at least the two entities are classed separately (Invesco field at Mile High Stadium, for example).

    There are also cases where naming rights deals must be temporarily suspended when international (typically IOC but also FIFA and other organizations) events are staged at the stadium-with-a-corporate name…

    The new Giants stadium would also be an example (similar to Allianz) of a case in which the two tenants are “almost” there… much of the stadium is purposely set up to switch theme from Giants to Jets at, more or less, the push of a button. There is no reason in the world the sponsorship associated with the facility can’t be sold for Giants and Jets home games separately. One of the two title sponsors might even pay a surcharge for having their name still on the building when neither team is playing.

    As soon as more money can be generated by selling naming rights on a per event basis than over a long term contract, I think we can all count on it happening.

  5. Oops! The YouTube link did not take.
    Go to YouTube and then search: Anthony Leblanc, Megathread HOF Induction