The Arizona Coyotes’ ownership group may be getting a new member.
According to Sportsnet’s John Shannon, Randy Frankel is a “potential new partner” for majority owner Andrew Barroway.
Frankel, who made his money on Wall Street, is already a part owner of MLB’s Tampa Bay Rays.
Shannon also reported that the Coyotes required a mid-season cash call, to the tune of $20 million, from their ownership group. Arizona has averaged just 13,020 fans at home games this season; hence, the revenue shortfall.
The Coyotes, of course, are trying to get a new arena built in the greater Phoenix area. So far, their efforts have been for naught.