Alex Meruelo (born March 27, 1964) is a Cuban-American billionaire[2][3] who holds business interests in banking, real estate, media, restaurants, food, casinos, and professional sports. He is the owner of Meruelo Group, as well as Meruelo Media, which owns five radio stations and two television stations in Los Angeles.
Meruelo forfeited his ownership of the Arizona Coyotes after the Arizona State Land Department canceled an auction for a 110-acre tract of land in north Phoenix. Meruelo was seeking the land for a new arena.[4]
Biography
Meruelo was born in New York City. His parents were accountants who fled the Castro regime. His family moved to Los Angeles, California, where they held a bridal shop and invested in local real estate. He also started to invest in real estate at an early age, and eventually sold a plot of land in Riverside to Walmart, making him a millionaire in his early 20s.[5]
Meruelo began his career in his father's tuxedo business.[7] At the age of 23, he decided to open a new type of pizza restaurant catering to Latinos in the US and offering unusual toppings such as chorizo and jalapeños. He bought a failing pizza restaurant and called his new business La Pizza Loca. Within 5 years, La Pizza Loca opened 12 locations and reached $10 million in sales.[5]
The SLS Las Vegas (formerly the Sahara Hotel and Casino) in Las Vegas, Nevada, was purchased by the Meruelo Group in June 2017. Alex Meruelo plans to turn the casino into a favorite destination for the Hispanic community. Meruelo plans to use its media properties to advertise the casino and its events.[5] In May 2019, SLS brand owner SBE Hotel Licensing, LLC filed a lawsuit alleging that Meruelo's Las Vegas Resort Holdings, LLC had failed to pay at least $450,000 in licensing fees since November 2018.[16] On June 28, 2019, The Meruelo Group and Alex Meruelo announced plans to rename the SLS Hotel as The Sahara Las Vegas. On August 29, 2019, the Meruelo Group officially changed the SLS Hotel to Sahara Las Vegas and is located on Sahara Blvd.
Professional sports
In November 2011, Meruelo's bid to take ownership of the Atlanta Hawks of the National Basketball Association from the team's then-owners Atlanta Spirit was turned down.[17] The team was later sold to Tony Ressler in 2015. In June 2019, he purchased majority ownership of the Arizona Coyotes of the National Hockey League from the previous sole owner Andrew Barroway who retained a minority stake.[18] With his purchase of the Coyotes, Meruelo became the first Latino owner in the NHL.[19] On March 27, 2023 NHL commissioner Gary Bettman announced that he would become the sole owner of the Arizona Coyotes after Andrew Barroway was indefinitely banned from the league after being arrested for the alleged strangulation of his wife.[20]
After a turbulent tenure as owner (including the team being kicked out of Gila River Arena following a series of rental disputes, forcing the team to relocate to Mullett Arena, which seats just a minuscule 4,600, while working on efforts to build their own arenas, including the aborted New Tempe Arena plans), on April 18, 2024, the NHL and Meruelo reached an agreement to sell the Coyotes' assets to Smith Entertainment Group, current owners of the Utah Jazz, and move the team's personnel to Salt Lake City. As part of the agreement,
the team would be declared "dormant" as Meruelo would continue with his efforts to build a new arena, with Meruelo becoming owner of a reactivated Coyotes team should he succeed in building the arena by the end of 2029, but would return all remaining Coyotes assets to the league should he fail by the end of the window. [21] Just 10 days prior, it was proclaimed that a bid for 110 acres (44.5 hectares) north of Phoenix at an upcoming land auction was still in the works.[22] On April 17, 2024, the Coyotes played their final game before deactivation at Mullett Arena, beating the Edmonton Oilers 5-2 without Meruelo in attendance. On June 21, 2024, the Arizona State Land Department announced the cancellation of the auction. Stating that "ASLD recently confirmed that the proposed arena use will require a Special Use Permit, and as a result we are requesting that the applicant file for and receive a Special Use Permit prior to the auction."[23]
Real estate
In May 2008, Meruelo purchased an 8,500-square-foot, $7.05 million house at 36 Indian Creek Drive in Miami.[24][25] In March 2014, he acquired a $10.79 million penthouse in The Langham, New York.[26] In June 2018, he purchased Colom Island in Spain for 3.2 million euros.[27]
In June 2021, Meruelo purchased a 22,000-square-foot, $12.1 million house in Paradise Valley, AZ.[28]
