Arizona Coyotes Majority Owner Andrew Barroway Is Now Not The Majority Owner; Former Asst. Glendale City Manager Julie Frisoni Blasts The City’s Court Filing As A “Blatant Falsehood.”
So, in keeping with the past week being a breaking news kinda week, today it was announced per Fox Sports Arizona, that Andrew Barroway is stepping down just six months after becoming the majority owner on December 31, 2014.
It was termed as a “philosophical” difference in the financial direction the team is taking, which led to IceArizona to purchasing back some of Barroway’s shares. This all began since the end of the season, and will be completed soon — maybe as early as this week. Barroway will still own more shares than any other member and keep his governor’s title, but relinquished his controlling interest.
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This was a mutual decision, and Barroway will not be leaving IceArizona, as once reported. He still has input, and will attend board meetings, so he still will be active in decisions.
"“Andy put tens and tens of millions of dollars into the team, as well as taking on his share of the obligation for the outstanding obligation,” Anthony LeBlanc said. “I guess the way you could look at is is, well, he has outstanding debt. But Andy, he made a sizable investment that was real cash. I have no expectation that he would walk away, nor would any of our partners.”"
The Barroway change of status will not affect the hockey operations budget approaching the team’s participation in free agency possibilities.
Julie Frisoni, Former Asst. Glendale City Manager Fires Back At The City’s Allegations
"“I am not a lawyer,” Frisoni said. “I do not create legal contracts in my down time. I have never been involved in a multi-million dollar contract for a sports franchise, and to say otherwise is a blatant falsehood, a lie and an attack on my credibility.”"
Per Fox Sports Arizona:
Yvonne Knaack was Glendale vice mayor at the time the agreement was created. She called the city’s assertion that Frisoni played a role “ludicrous.”
"“She was never in any of those meetings,” Knaack said. “She was our communications director. She had no access. She had no role. I’m absolutely baffled by the city’s stance on this.”"
Three legal analysts contacted by FOX Sports Arizona expressed disbelief that Frisoni was part of the city’s case against the Coyotes.
“The Tindall claim was stupid enough,” attorney Dan Barr of Perkins Coie said. “But claiming that Julie Frisoni, their PR person, had significant involvement in the Coyote deal?
“I understand them desperately looking for a way to get out of the deal, but how this went beyond five minutes of consideration is unbelievable.”
Frisoni said she has hired a lawyer and will be watching this case “very closely.”
“If at any point in this process there is damage to my reputation or it results in any type of financial hit to myself or my family, the city will be facing more than the Coyotes’ $200 million lawsuit,” she said. “I never could have imagined that the city I live in and for which I have worked for many years would have resorted to an unbelievably desperate move to achieve their goal of getting the Coyotes to renegotiate their deal.
“Mayor (Jerry) Weiers and (vice mayor) Ian Hugh are the kingpins in this. They are not supporters of the Coyotes, and they have been looking for an opportunity like this. They found it when they got two junior councilmembers (Lauren Tolmachoff and Bart Turner) who knew very little about the deal and the city. If they want to move forward with this, it’s going to end very badly for them.”
Editorial note: This all seems like a witch-hunt to find a loophole in a less than favorable lease agreement, but making accusations against people is always dangerous. The citizens of Glendale must be totally embarrassed at the lack of leadership being displayed by their local city government. Whether you like the Coyotes or not, the city is hitting below the belt. And, if at their executive meeting tomorrow where they will “officially” vote to cancel the lease agreement, they decide that they made this awful mistake — well it’s a bit too late for that. They severed their relationship with the Arizona Coyotes, and I don’t see that being repaired now or ever. BYE BYE GLENDALE…
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