New Arizona Coyotes part-owner Andrew Barroway is reducing his stake in the team just months after buying a controlling interest.
"The owners of IceArizona have been in discussions to restructure their relative holdings," Anthony LeBlanc, CEO and president and part-owner of the Coyotes, said in a statement. "Upon completion of an agreement, Andrew Barroway will remain the largest shareholder and Governor of the Arizona Coyotes. The transaction is subject to NHL and shareholder approval."
Barroway bought 51 percent of the team back on Dec. 31.
The expectation, according to sources, is that some of Barroway's shares will be purchased by existing members of the Coyotes' ownership group, Gary Drummond and Dave Duckett.
Barroway will still own the most shares in the group even after selling some.
The news comes at time when the club is battling the City of Glendale over its lease agreement with Gila River Arena.