Billionaire entrepreneur Alex Meruelo is the new owner of the Arizona Coyotes.
According to sources, the 55-year-old Meruelo purchased a 95 percent stake in the organization, a sale formally announced by the team on Monday.
“This is an incredible moment for me and my entire family,” Meruelo said in a release. “The Arizona Coyotes team is poised to do great things on and off the ice. I look forward to helping hockey continue to thrive in the desert, and I am committed to providing our passionate fans, loyal partners and the entire State of Arizona with a team they can be proud of for years to come.