Coyotes deny reported plans to sell majority share, confirm discussions with investor

The Arizona Coyotes are denying a report that the ownership group is in the process of selling a majority share.

In a statement Thursday, the team confirmed ongoing discussions with an investor but said no members of the ownership group are leaving.

In response to media reports today, the Arizona Coyotes can confirm that IceArizona has been in discussions with an unsolicited potential investor who is interested in joining the partnership. This should be viewed as an incredibly positive development and is due to the successful first year of IceArizona’s ownership. This is all about the long-term stability and viability of the franchise in Arizona. By no means are any members of the current IceArizona group departing the ownership. While there has been no confirmation of any transaction, this is something that the current ownership group is exploring.

The New York Post is reporting Renaissance Sports and Entertainment is in "advanced negotations" to sell a 51 percent share of the Coyotes to hedge fund investor Andrew Barroway in a deal that should be completed "within the month."

Barroway previously attempted to buy the New York Islanders and is suing owner Charles Wang. The Post reports Barroway must drop the pending lawsuit to complete the Coyotes transaction.