Andrew_Barroway

Andrew Barroway

Andrew Barroway

American hedge fund manager

Andrew Barroway is an American hedge fund manager. He is the majority owner of Greek football club Athens Kallithea FC, and was formerly the owner of the Arizona Coyotes hockey team in the National Hockey League .

Raised in Cherry Hill, New Jersey, Barrowawy attended Cherry Hill High School East and Rutgers University, before earning a Juris Doctor degree at the University of Pennsylvania Law School.[1]

In October 2014, he agreed to purchase the 51% majority share of the Coyotes for $152.5 million, a franchise that was reportedly valued by Coyotes' president Anthony LeBlanc at $305 million.[2] On December 31, 2014, the NHL Board of Governors approved the sale.[3] The team had been previously purchased out of bankruptcy by LeBlanc's group for $170 million in 2013 with substantial concessions by the City of Glendale. The City of Glendale paid subsidies to the NHL when revenue and value failed to meet the required minimums during bankruptcy proceedings. The NHL Board of Governors prevented the city from acquiring an ownership share in the franchise.

In 2015, it was reported that Barroway had missed payments and would be removed from the majority shareholder position.[4] However, in 2016, Barroway reportedly obtained a greater share of the franchise with up to 54% of the shares.[5] In 2017, Barroway then bought out the rest of his IceArizona partners to become the sole shareholder.[6] In 2019, Barroway sold majority interest in the team to Alex Meruelo.[7]

In August 2021, Barroway purchased the 90% majority share of the Greek football (soccer) club Athens Kallithea FC for €300.000.[8]

On March 23, 2023, Barroway was arrested in Aspen, Colorado on charges of assault and domestic violence.[9] On March 27, 2023, NHL commissioner Gary Bettman announced that Barroway was suspended indefinitely from the league pending further information.[10] On August 30, 2023, prosecutors filed a motion to dismiss the charges.[11]

References

  1. [1]
    Seravalli, Frank. "Coyotes' new majority owner has Philly-area ties", The Philadelphia Inquirer, January 27, 2015. Accessed March 29, 2023. "This son and grandson of two Cherry Hill, N.J., pediatricians isn't moving anywhere.... The biggest question for this Cherry Hill East, Rutgers undergrad and Penn Law School grad is: Why the Coyotes?"
  2. [2]
    Corbett, Peter. "Arizona Coyotes reach agreement to make Andrew Barroway majority owner". The Republic. Retrieved October 11, 2014.
  3. [3]
    "Board of Governors approves sale of majority stake in Coyotes". Retrieved December 31, 2014.
  4. [4]
    "Andrew Barroway to relinquish role as Coyotes majority owner". Retrieved September 26, 2015.
  5. [5]
    Ozanian, Mike. "Andrew Barroway Now Owns Fifty-four percent of the Arizona Coyotes". Forbes. Retrieved May 18, 2016.
  6. [6]
    "Coyotes CEO Anthony LeBlanc, hockey ops chief Gary Drummond step down". ESPN. June 16, 2017.
  7. [7]
    "NHL approves sale of Coyotes to businessman Alex Meruelo". KNXV. 2019-06-19. Retrieved 2019-06-21.
  8. [8]
    "Πέρασε στα χέρια Αμερικανού επιχειρηματία η Καλλιθέα | Gazzetta". www.gazzetta.gr (in Greek). Retrieved 2021-08-03.
  9. [9]
    Carroll, Rick (March 24, 2023). "Arizona Coyotes minority owner, hedge fund manager Andrew Barroway arrested in Aspen". Aspen Daily News. Retrieved March 24, 2023.
  10. [10]
    "NHL bans Coyotes minority owner Barroway following domestic violence arrest". ESPN.com. 25 March 2023. Retrieved 2023-03-27.
  11. [11]
    "Prosecutors file motion to dismiss domestic violence case against ex-Coyotes co-owner". AZ Family. 30 August 2023. Retrieved 2023-03-31.


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