Report: Barroway looking to sell 49 percent of Coyotes at $500M valuation

Andrew Barroway has only been the sole owner of the Arizona Coyotes for just over a year, but he's reportedly seeking to sell 49 percent of the NHL franchise at a valuation of $500 million, sources told Mike Ozanian of Forbes.

Related: Barroway committed to Arizona, new arena: 'No exit strategy here'

Barroway took majority ownership of the club in December 2014, and took sole ownership in June of last year after spending $240 million to buy out his remaining partners. The $500-million valuation is a seemingly high figure given that Arizona has languished at the bottom of the standings and has struggled to draw fans for the majority of the past two decades.

The club is also in financial turmoil, as it sits with $250 million of debt, $100 million of which is owed to the NHL.

Given those issues, it will be interesting to see if potential buyers are willing to meet the valuation that Barroway is seeking.

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