The Godfather Part II: The Coppola Restoration
GLENDALE, Ariz. -- Andrew Barroway's lifelong attraction to hockey began as a fan of the Philadelphia Flyers' "Broad Street Bullies" of the 1970s.
On Dec. 31, the NHL Board of Governors approved Barroway's purchase of a majority stake (51 percent) in the Arizona Coyotes, two days after they defeated the Flyers 4-2.
"My first game here was against the Flyers. Even though they were my team, I couldn't have been happier beating them," said Barroway, who was introduced as majority owner, chairman and governor of the Coyotes on Friday at Gila River Arena. "It was awesome. It was an easy transition and I have become a fan immediately.
"We want to build for the future here. We think there is tremendous opportunity and tremendous upside to this organization."
The Coyotes fell three wins shy of the Stanley Cup Final in 2012 but haven't made the Stanley Cup Playoffs since. At 14-19-4 this season, they are 13 points out of the final Western Conference playoff spot.
Barroway said he and the nine minority owners of Ice Arizona are committed to infusing $30 million back into the team, with up to $9 million going directly to upgrading the on-ice product through trades and free agency.
"I feel we have the right guys in [general manager] Don Maloney and [coach] Dave Tippett to get this done, and a bright future," Barroway said. "But we don't want any Band-Aid fixes. We want to build a team that will be good long-term."
Barroway said he will be a hands-on owner, and he is looking to buy a house in the area. A graduate of University of Pennsylvania Law School in 1991, Barroway is the managing partner of Merion Investment Management LP, an event-driven hedge fund.
"I'm a competitive person and I want to come here and build even stronger organization to help us win," Barroway said. "We are here to win the Cup. It starts with me. We will not rest until we bring a Cup home to Arizona. I'm getting started today. I'm going to want to do my best and I'm going to want to make Arizona proud."
Coyotes captain Shane Doan, who has been through several ownership changes in his 19 years with the organization, said Barroway's addition continues a positive trend that began with Ice Arizona purchasing the Coyotes from the NHL in 2013.
"We've been going in the right direction with this ownership, and knowing that Mr. Barroway will help us have the best chance to win is all any player can ask for," Doan said at the press conference. "You see the value of the franchise increase and all the good things happening on the business side. Now it's up to us as players to have success on the ice and win games."
Barroway said he is not considering moving the Coyotes.
"It's interesting to see your name attached to stories that you know aren't true," he said. "We're committed to this market. We love it here. The team is here, the team is going to stay here. So let's win here."
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