Jump to content

Alex Meruelo: Difference between revisions

From Wikipedia, the free encyclopedia
Browse history interactively
← Previous editNext edit →
Content deleted Content added
VisualWikitext
Restored revision 1146900184 by BoonDock (talk): This version fixed the error that you introduced and that you proceeded to revert and then make a long series of edits which introduced further edits
Tags: Mobile edit Mobile web edit Advanced mobile edit
(35 intermediate revisions by 28 users not shown)
Line 1: Line 1:
{{short description|Cuban-American businessman}}
{{Short description|Cuban-American businessman}}
{{Use mdy dates|date=April 2023}}
{{redirect|Meruelo|the Spanish municipality|Meruelo, Spain}}
{{redirect|Meruelo|the Spanish municipality|Meruelo, Spain}}
{{infobox person
{{infobox person
| name = Alex Meruelo
| image =
| image =
| caption =
| caption =
| birth_date = {{Birth date and age|1964|3|27}} <ref>[https://www.bloomberg.com/research/stocks/private/person.asp?personId=5985339&privcapId=252865570&previousCapId=252865744&previousTitle=Meruelo%20Media%20Inc. Executive Profile: Alex Meruelo], ''Bloomberg L.P.''</ref>
| birth_date = {{Birth date and age|1964|3|27}} <ref>[https://www.bloomberg.com/research/stocks/private/person.asp?personId=5985339&privcapId=252865570&previousCapId=252865744&previousTitle=Meruelo%20Media%20Inc. Executive Profile: Alex Meruelo], ''Bloomberg L.P.''</ref>
| birth_place = [[New York City]], [[New York (State)|New York]], U.S.
| birth_place = [[New York City]], U.S.
| death_date = <!-- {{Death date and age|YYYY|MM|DD|YYYY|MM|DD}} (death date then birth date) -->
| death_date = <!-- {{Death date and age|YYYY|MM|DD|YYYY|MM|DD}} (death date then birth date) -->
| death_place =
| death_place =
| education = [[California State University, Long Beach]]
| education = [[California State University, Long Beach]]
| known_for =
| known_for =
| occupation = Owner of Meruelo Group<br />Owner of [[Arizona Coyotes]] ([[National Hockey League|NHL]])<br />Owner of [[KWHY-TV]] and [[KBEH]]<br />Owner of [[KLOS]], [[KLLI (FM)|KLLI]], [[KPWR]], [[KDAY]] and [[KDEY-FM]]<br />Owner of [[Fuji Food]]<br />Owner of [[Grand Sierra Resort]]<br />Owner of [[Sahara Las Vegas]]<br />Owner of [[Colom Island]]
| occupation = Owner of Meruelo Group<br />Owner of [[Arizona Coyotes]] ([[National Hockey League|NHL]])<br />Owner of [[KWHY-TV]] and [[KBEH]]<br />Owner of [[KLOS]], [[KLLI (FM)|KLLI]], [[KPWR]], [[KDAY]] and [[KDEY-FM]]<br />Owner of [[Fuji Food]]<br />Owner of [[Grand Sierra Resort]]<br />Owner of [[Sahara Las Vegas]]<br />Owner of [[Colom Island]]
| nationality = [[Cuban-American]]
| nationality = [[Cuban-American]]
| spouse = Liset Meruelo
| spouse = Liset Meruelo
| children =
| children = 3
}}
}}
⚫
'''Alex Meruelo''' (born March 27, 1964) is a [[Cuban-American]] billionaire{{citation needed|date=December 2022}} 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]]. In addition, he is the owner of [[Fuji Food]], two casinos, the [[Grand Sierra Resort]] in [[Reno, Nevada]] and the [[Sahara Las Vegas]] in Las Vegas and was the majority owner of the [[Arizona Coyotes]] of the [[National Hockey League]] until he sold the team to the [[National Hockey League]], which then sold the team to [[Utah Jazz]] owner [[Ryan Smith (businessman)|Ryan Smith]], under an agreement with the NHL wherein the Coyotes would be temporarily deactivated, with Smith using the Coyotes' non-business properties, including players and staff, to form the [[Utah NHL team]], while Meruelo works on his efforts to build an NHL-compliant arena in the Phoenix area; should his efforts succeed by the end of 2029, he would continue as owner of a reactivated expansion Arizona Coyotes team, but should he fail by the end of the window, he will return the remaining Coyotes assets to the league at that time.


⚫
==Biography==
⚫
'''Alex Meruelo''' (born March 27, 1964) is a [[Cuban-American]] billionaire{{citation needed|date=December 2022}} 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]]. In addition he is the owner of [[Fuji Food]], two casinos, the [[Grand Sierra Resort]] in [[Reno, Nevada]] and the [[Sahara Las Vegas]] in Las Vegas and is the majority owner of the [[Arizona Coyotes]] of the [[National Hockey League]].

⚫
== 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, California|Riverside]] to [[Walmart]], making him a millionaire in his early 20s.<ref name="latimes latino">[https://www.latimes.com/business/la-fi-meruelo-sls-20180420-story.html Alex Meruelo sees L.A. Latinos as key part of his highest-profile bet: a Las Vegas casino], ''Latimes.com'', 20 April 2018</ref>
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, California|Riverside]] to [[Walmart]], making him a millionaire in his early 20s.<ref name="latimes latino">[https://www.latimes.com/business/la-fi-meruelo-sls-20180420-story.html Alex Meruelo sees L.A. Latinos as key part of his highest-profile bet: a Las Vegas casino], ''Latimes.com'', 20 April 2018</ref>


Meruelo attended the [[Don Bosco Technical Institute]] in [[Rosemead, California]], and received his B.S. from [[California State University, Long Beach]].<ref>{{cite web|title=Alex Meruelo: Executive Profile and Biography - Businessweek|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=5985339&privcapId=252865744|publisher=Businessweek|access-date=29 September 2016}}</ref>
Meruelo attended the [[Don Bosco Technical Institute]] in [[Rosemead, California]], and received his B.S. from [[California State University, Long Beach]].<ref>{{cite web|title=Alex Meruelo: Executive Profile and Biography - Businessweek|url=https://www.bloomberg.com/research/stocks/private/person.asp?personId=5985339&privcapId=252865744|publisher=Businessweek|access-date=29 September 2016}}</ref>


== Career ==
==Career==
Meruelo began his career in his father's [[tuxedo]] business.<ref name="cnn">{{cite web|url=http://news.blogs.cnn.com/2011/08/09/path-to-a-dream-from-a-family-that-fled-castro-to-first-hispanic-nba-owner/ |title=Path to a dream: From a family that fled Castro to first Hispanic NBA owner – This Just In - CNN.com Blogs |publisher=News.blogs.cnn.com |access-date=2012-03-01}}</ref> 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.<ref name="latimes latino"/>
Meruelo began his career in his father's [[tuxedo]] business.<ref name="cnn">{{cite web|url=http://news.blogs.cnn.com/2011/08/09/path-to-a-dream-from-a-family-that-fled-castro-to-first-hispanic-nba-owner/ |title=Path to a dream: From a family that fled Castro to first Hispanic NBA owner – This Just In - CNN.com Blogs |publisher=News.blogs.cnn.com |access-date=2012-03-01}}</ref> 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.<ref name="latimes latino"/>


Meruelo expanded his business focus, founding the Meruelo Group, which has grown into a [[construction]] and [[real estate development]] firm. Meruelo Group has ownership of Neal Electric Corp, Select Electric Inc., and Doty Bros within the [[Southern California]] area. The group also owns Commercial Bank of California. which Meruelo co-founded in 2003,<ref name="ajc">{{cite web|last=Tucker |first=Tim |url=http://www.ajc.com/sports/atlanta-hawks/l-a-businessman-buying-1083677.html |title=L.A. businessman buying majority stake in Hawks |publisher=ajc.com |date=2011-08-08 |access-date=2012-03-01}}</ref> [[television station]]s [[KWHY-TV]] and [[KBEH]],<ref>{{cite web|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/01/nbc-sells-kwhy-los-angeles-to-local-businessman-alex-meruelo-.html |title=NBC sells KWHY-TV Los Angeles to local businessman Alex Meruelo |publisher=Latimesblogs.latimes.com |date=2011-01-26 |access-date=2012-03-01}}</ref> radio stations [[KLOS]], [[KLLI (FM)|KLLI]], [[KPWR]], [[KDAY]] and [[KDEY-FM]] under the Meruelo Media banner,<ref name="KLOS Meruelo">{{cite news |url=https://radioinsight.com/headlines/176147/cumulus-media-sells-klos-to-meruelo-media-swaps-bridgeport-to-connoisseur-for-allentown/ |last=Venta |first=Lance |title=Cumulus Media Sells KLOS to Meruelo Media; Swaps Bridgeport to Connoisseur for Allentown |website=RadioInsight |publisher=RadioBB Networks |date=2019-04-15 |access-date=2019-04-15 }}</ref> and the [[Grand Sierra Resort]] in Reno, Nevada.<ref name="ajc"/><ref>https://www.radiodiscussions.com/showthread.php?716647-KXOS-Sold-to-Meruelo {{Bare URL inline|date=May 2022}}</ref>
Meruelo expanded his business focus, founding the Meruelo Group, which has grown into a [[construction]] and [[real estate development]] firm. Meruelo Group has ownership of Neal Electric Corp, Select Electric Inc., and Doty Bros within the [[Southern California]] area. The group also owns the Commercial Bank of California. which Meruelo co-founded in 2003,<ref name="ajc">{{cite web|last=Tucker |first=Tim |url=http://www.ajc.com/sports/atlanta-hawks/l-a-businessman-buying-1083677.html |title=L.A. businessman buying majority stake in Hawks |publisher=ajc.com |date=2011-08-08 |access-date=2012-03-01}}</ref> [[television station]]s [[KWHY-TV]] and [[KBEH]],<ref>{{cite web|url=http://latimesblogs.latimes.com/entertainmentnewsbuzz/2011/01/nbc-sells-kwhy-los-angeles-to-local-businessman-alex-meruelo-.html |title=NBC sells KWHY-TV Los Angeles to local businessman Alex Meruelo |publisher=Latimesblogs.latimes.com |date=2011-01-26 |access-date=2012-03-01}}</ref> radio stations [[KLOS]], [[KLLI (FM)|KLLI]], [[KPWR]], [[KDAY]] and [[KDEY-FM]] under the Meruelo Media banner,<ref name="KLOS Meruelo">{{cite news |url=https://radioinsight.com/headlines/176147/cumulus-media-sells-klos-to-meruelo-media-swaps-bridgeport-to-connoisseur-for-allentown/ |last=Venta |first=Lance |title=Cumulus Media Sells KLOS to Meruelo Media; Swaps Bridgeport to Connoisseur for Allentown |website=RadioInsight |publisher=RadioBB Networks |date=2019-04-15 |access-date=2019-04-15 }}</ref> and the [[Grand Sierra Resort]] in Reno, Nevada.<ref name="ajc"/><ref>{{Cite web|url=https://www.radiodiscussions.com/showthread.php?716647-KXOS-Sold-to-Meruelo|title=KXOS Sold to Meruelo &#124; RadioDiscussions|accessdate=18 April 2023}}</ref>


Meruelo purchased food manufacturer and the largest provider and distributor of pre-packaged sushi in the United States [[Fuji Food]] in 2009.<ref>{{Cite web|url=https://www.cbcal.com/who-we-are/board-of-directors/alex-meruelo|title=Alex Meruelo {{!}} Commercial Bank of California|website=www.cbcal.com|access-date=2019-06-20}}</ref>
Meruelo purchased food manufacturer and the largest provider and distributor of pre-packaged sushi in the United States [[Fuji Food]] in 2009.<ref>{{Cite web|url=https://www.cbcal.com/who-we-are/board-of-directors/alex-meruelo|title=Alex Meruelo {{!}} Commercial Bank of California|website=www.cbcal.com|access-date=2019-06-20}}</ref>
Line 37: Line 36:
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.<ref name="latimes latino"/> 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.<ref>{{Cite web|url=https://www.rgj.com/story/news/2019/06/25/gsr-owner-alex-meruelo-sued-over-claims-unpaid-license-fees-sls-las-vegas-casino/1564658001/|title=Alex Meruelo, owner of GSR, sued over unpaid license fees for Vegas property|website=Reno Gazette Journal|language=en|access-date=2019-06-28}}</ref> 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.
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.<ref name="latimes latino"/> 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.<ref>{{Cite web|url=https://www.rgj.com/story/news/2019/06/25/gsr-owner-alex-meruelo-sued-over-claims-unpaid-license-fees-sls-las-vegas-casino/1564658001/|title=Alex Meruelo, owner of GSR, sued over unpaid license fees for Vegas property|website=Reno Gazette Journal|language=en|access-date=2019-06-28}}</ref> 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 ==
==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.<ref>Paul Newberry,[https://www.deseretnews.com/article/700194750/Hawks-will-not-be-sold-to-Alex-Meruelo.html Hawks will not be sold to Alex Meruelo], ''Deseretnews.com'', 4 November 2011</ref> 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 previous sole owner [[Andrew Barroway]] who retained a minority stake.<ref>{{cite web |url=https://www.abc15.com/sports/nhl-approves-sale-of-arizona-coyotes-to-businessman-alex-meurelo |title=NHL approves sale of Arizona Coyotes to businessman Alex Meurelo |website=[[KNXV-TV]] |date=June 19, 2019}}</ref> With his purchase of the Coyotes, Meruelo became the first Latino owner in the NHL.<ref>{{Cite web|url=https://www.espn.com/nhl/story/_/id/27010903|title=Meruelo to take over Coyotes as 1st Latino owner|date=2019-06-19|website=ESPN.com|language=en|access-date=2019-06-20}}</ref> 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.<ref>{{cite web|url=https://www.espn.com/nhl/story/_/id/35937307/nhl-bans-coyotes-minority-owner-barroway-following-domestic-violence-arrest |title=NHL bans Coyotes minority owner Barroway following domestic violence arrest|website=ESPN.com|language=en|access-date=2023-03-27}}</ref>
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.<ref>Paul Newberry,[https://www.deseretnews.com/article/700194750/Hawks-will-not-be-sold-to-Alex-Meruelo.html Hawks will not be sold to Alex Meruelo], ''Deseretnews.com'', 4 November 2011</ref> 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.<ref>{{cite web |url=https://www.abc15.com/sports/nhl-approves-sale-of-arizona-coyotes-to-businessman-alex-meurelo |title=NHL approves sale of Arizona Coyotes to businessman Alex Meurelo |website=[[KNXV-TV]] |date=June 19, 2019}}</ref> With his purchase of the Coyotes, Meruelo became the first Latino owner in the NHL.<ref>{{Cite web|url=https://www.espn.com/nhl/story/_/id/27010903|title=Meruelo to take over Coyotes as 1st Latino owner|date=2019-06-19|website=ESPN.com|language=en|access-date=2019-06-20}}</ref> 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.<ref>{{cite web|url=https://www.espn.com/nhl/story/_/id/35937307/nhl-bans-coyotes-minority-owner-barroway-following-domestic-violence-arrest |title=NHL bans Coyotes minority owner Barroway following domestic violence arrest|website=ESPN.com|date=March 25, 2023 |language=en|access-date=2023-03-27}}</ref>


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 miniscule 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 to [[Ryan Smith (businessman)|Smith Entertainment Group]], current owners of the [[Utah Jazz]], and move the team to [[Salt Lake City]]. As part of the agreement,
== Real estate ==
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. <ref>{{Cite web |date=2024-04-18 |title=NHL BOG approves establishment of new franchise in Utah {{!}} NHL.com |url=https://www.nhl.com/news/nhl-bog-approves-establishment-of-new-franchise-in-utah |access-date=2024-04-19 |website=www.nhl.com |language=en}}</ref> 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.<ref>{{Cite web |title=Arizona Coyotes announce development plans in north Phoenix, auction pending - The Arizona State Press |url=https://www.statepress.com/article/2024/04/coyotes-are-staying |access-date=2024-04-19 |website=www.statepress.com |language=en-US}}</ref> On April 17, 2024, the Coyotes played their final game at [[Mullett Arena]], beating the [[Edmonton Oilers]] 5-2 without Meruelo in attendance.
⚫
In May 2008, Meruelo purchased a 8,500-square-foot, $7.05 million house at 36 [[Indian Creek Drive]] in Miami.<ref>Morgan Brennan, [https://www.forbes.com/sites/morganbrennan/2012/08/23/inside-indian-creek-island-miamis-billionaire-bunker/ Inside Indian Creek Island, Miami's Billionaire Bunker], ''Forbes.com'', 23 August 2012</ref><ref>Celia Ampel, [https://www.miamiherald.com/news/business/article2684973.html Indian Creek Village is for the uber-rich], ''Miamiherald.com'', 11 October 2014</ref> In March 2014, he acquired a $10.79 million penthouse in [[The Langham, New York]].<ref>Chris Pomorski, [https://observer.com/2014/03/would-be-hawks-owner-soars-into-10-79-m-fifth-avenue-condo/ Would-be Hawks Owner Soars Into $10.79 M. Fifth Avenue Condo], ''Observer.com'', 27 March 2014</ref> In June 2018, he purchased [[Colom Island]] in Spain for 3.2 million euros.<ref>{{in lang|es}} [https://www.cibercuba.com/noticias/2018-06-07-u1-e192519-s27061-multimillonario-cubanoamericano-alex-meruelo-gana-puja-frances El multimillonario cubano Alex Meruelo gana la puja a un francés y compra la isla española de Colom], ''Cibercuba.com'', 7 June 2018</ref>
⚫
In June 2021, Meruelo purchased a 22,000-square-foot, $12.1 million house in Paradise Valley, AZ.<ref>Catherine Reagor, [https://www.azcentral.com/story/money/real-estate/done-deals/2021/06/21/arizona-coyotes-owner-buys-mansion-metro-phoenix-luxury-home-sales/7709397002/ Arizona Coyotes owner buys $12.1M home in Paradise Valley; former PetSmart CEO sells one], ''AZCentral.com'', 21 June 2021</ref></ref>


== References ==
==Real estate==
⚫
In May 2008, Meruelo purchased an 8,500-square-foot, $7.05 million house at 36 [[Indian Creek Drive]] in Miami.<ref>Morgan Brennan, [https://www.forbes.com/sites/morganbrennan/2012/08/23/inside-indian-creek-island-miamis-billionaire-bunker/ Inside Indian Creek Island, Miami's Billionaire Bunker], ''Forbes.com'', 23 August 2012</ref><ref>Celia Ampel, [https://www.miamiherald.com/news/business/article2684973.html Indian Creek Village is for the uber-rich], ''Miamiherald.com'', 11 October 2014</ref> In March 2014, he acquired a $10.79 million penthouse in [[The Langham, New York]].<ref>Chris Pomorski, [https://observer.com/2014/03/would-be-hawks-owner-soars-into-10-79-m-fifth-avenue-condo/ Would-be Hawks Owner Soars Into $10.79 M. Fifth Avenue Condo], ''Observer.com'', 27 March 2014</ref> In June 2018, he purchased [[Colom Island]] in Spain for 3.2 million euros.<ref>{{in lang|es}} [https://www.cibercuba.com/noticias/2018-06-07-u1-e192519-s27061-multimillonario-cubanoamericano-alex-meruelo-gana-puja-frances El multimillonario cubano Alex Meruelo gana la puja a un francés y compra la isla española de Colom], ''Cibercuba.com'', 7 June 2018</ref>
{{Reflist}}


⚫
In June 2021, Meruelo purchased a 22,000-square-foot, $12.1 million house in Paradise Valley, AZ.<ref>Catherine Reagor, [https://www.azcentral.com/story/money/real-estate/done-deals/2021/06/21/arizona-coyotes-owner-buys-mansion-metro-phoenix-luxury-home-sales/7709397002/ Arizona Coyotes owner buys $12.1M home in Paradise Valley; former PetSmart CEO sells one], ''AZCentral.com'', 21 June 2021</ref>
⚫
== External links ==

⚫
* [http://www.meruelogroup.com/ Meruelo Group official website]
==References==
{{reflist}}

⚫
==External links==
⚫
*[http://www.meruelogroup.com/ Meruelo Group official website]
*[http://totalsocalhomes.com Southern California Real Estate]


{{Arizona Coyotes}}
{{Arizona Coyotes}}
Line 54: Line 58:


{{DEFAULTSORT:Meruelo, Alex}}
{{DEFAULTSORT:Meruelo, Alex}}
[[Category:American real estate businesspeople]]
[[Category:1964 births]]
⚫
[[Category:Living people]]
⚫
[[Category:20th-century American businesspeople]]
⚫
[[Category:American businesspeople in mass media]]
[[Category:American construction businesspeople]]
[[Category:American construction businesspeople]]
[[Category:American food industry businesspeople]]
[[Category:American food industry businesspeople]]
[[Category:American businesspeople in mass media]]
[[Category:American people of Cuban descent]]
[[Category:American radio executives]]
[[Category:American radio executives]]
[[Category:American real estate businesspeople]]
[[Category:Arizona Coyotes]]
[[Category:Arizona Coyotes owners]]
[[Category:Arizona Coyotes owners]]
[[Category:California State University, Long Beach alumni]]
⚫
[[Category:American people of Cuban descent]]
[[Category:Businesspeople from New York City]]
[[Category:Businesspeople from New York City]]
[[Category:1964 births]]
[[Category:California State University, Long Beach alumni]]
⚫
[[Category:Living people]]
[[Category:National Hockey League owners]]
[[Category:National Hockey League owners]]
⚫
[[Category:20th-century American businesspeople]]

Revision as of 00:16, 7 May 2024

"Meruelo" redirects here. For the Spanish municipality, see Meruelo, Spain.
Alex Meruelo
Born (1964-03-27) March 27, 1964 (age 60) [1]
New York City, U.S.
NationalityCuban-American
EducationCalifornia State University, Long Beach
Occupation(s)Owner of Meruelo Group
Owner of Arizona Coyotes (NHL)
Owner of KWHY-TV and KBEH
Owner of KLOS, KLLI, KPWR, KDAY and KDEY-FM
Owner of Fuji Food
Owner of Grand Sierra Resort
Owner of Sahara Las Vegas
Owner of Colom Island
SpouseLiset Meruelo
Children3

Alex Meruelo (born March 27, 1964) is a Cuban-American billionaire[citation needed] 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. In addition, he is the owner of Fuji Food, two casinos, the Grand Sierra Resort in Reno, Nevada and the Sahara Las Vegas in Las Vegas and was the majority owner of the Arizona Coyotes of the National Hockey League until he sold the team to the National Hockey League, which then sold the team to Utah Jazz owner Ryan Smith, under an agreement with the NHL wherein the Coyotes would be temporarily deactivated, with Smith using the Coyotes' non-business properties, including players and staff, to form the Utah NHL team, while Meruelo works on his efforts to build an NHL-compliant arena in the Phoenix area; should his efforts succeed by the end of 2029, he would continue as owner of a reactivated expansion Arizona Coyotes team, but should he fail by the end of the window, he will return the remaining Coyotes assets to the league at that time.

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.[2]

Meruelo attended the Don Bosco Technical Institute in Rosemead, California, and received his B.S. from California State University, Long Beach.[3]

Career

Meruelo began his career in his father's tuxedo business.[4] 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.[2]

Meruelo expanded his business focus, founding the Meruelo Group, which has grown into a construction and real estate development firm. Meruelo Group has ownership of Neal Electric Corp, Select Electric Inc., and Doty Bros within the Southern California area. The group also owns the Commercial Bank of California. which Meruelo co-founded in 2003,[5] television stations KWHY-TV and KBEH,[6] radio stations KLOS, KLLI, KPWR, KDAY and KDEY-FM under the Meruelo Media banner,[7] and the Grand Sierra Resort in Reno, Nevada.[5][8]

Meruelo purchased food manufacturer and the largest provider and distributor of pre-packaged sushi in the United States Fuji Food in 2009.[9]

In September 2011, Meruelo announced a $25 million investment in the renovation of the Grand Sierra Resort in Reno, Nevada.[10]

In February 2013, the Meruelo Group made a bid to buy Donald Trump's Trump Plaza Hotel and Casino for $20 million.[11][12] The deal fell through and the casino closed the following year.

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.[2] 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.[13] 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.[14] 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.[15] With his purchase of the Coyotes, Meruelo became the first Latino owner in the NHL.[16] 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.[17]

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 miniscule 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 to Smith Entertainment Group, current owners of the Utah Jazz, and move the team 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. [18] 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.[19] On April 17, 2024, the Coyotes played their final game at Mullett Arena, beating the Edmonton Oilers 5-2 without Meruelo in attendance.

Real estate

In May 2008, Meruelo purchased an 8,500-square-foot, $7.05 million house at 36 Indian Creek Drive in Miami.[20][21] In March 2014, he acquired a $10.79 million penthouse in The Langham, New York.[22] In June 2018, he purchased Colom Island in Spain for 3.2 million euros.[23]

In June 2021, Meruelo purchased a 22,000-square-foot, $12.1 million house in Paradise Valley, AZ.[24]

References

  1. ^ Executive Profile: Alex Meruelo, Bloomberg L.P.
  2. ^ a b c Alex Meruelo sees L.A. Latinos as key part of his highest-profile bet: a Las Vegas casino, Latimes.com, 20 April 2018
  3. ^ "Alex Meruelo: Executive Profile and Biography - Businessweek". Businessweek. Retrieved September 29, 2016.
  4. ^ "Path to a dream: From a family that fled Castro to first Hispanic NBA owner – This Just In - CNN.com Blogs". News.blogs.cnn.com. Retrieved March 1, 2012.
  5. ^ a b Tucker, Tim (August 8, 2011). "L.A. businessman buying majority stake in Hawks". ajc.com. Retrieved March 1, 2012.
  6. ^ "NBC sells KWHY-TV Los Angeles to local businessman Alex Meruelo". Latimesblogs.latimes.com. January 26, 2011. Retrieved March 1, 2012.
  7. ^ Venta, Lance (April 15, 2019). "Cumulus Media Sells KLOS to Meruelo Media; Swaps Bridgeport to Connoisseur for Allentown". RadioInsight. RadioBB Networks. Retrieved April 15, 2019.
  8. ^ "KXOS Sold to Meruelo | RadioDiscussions". Retrieved April 18, 2023.
  9. ^ "Alex Meruelo | Commercial Bank of California". www.cbcal.com. Retrieved June 20, 2019.
  10. ^ Meruelo Group to invest more than $25 million in renovations at Grand Sierra Resort and Casino, Visitremotahoe.com, 13 September 2011
  11. ^ Wayne Parry, Trump Plaza in Atlantic City sold for $20M, Newsday.com, 14 February 2013
  12. ^ Atlantic City's Trump Plaza Sold for Fire-Sale Price, cnbc.com, 15 February 2013
  13. ^ "Alex Meruelo, owner of GSR, sued over unpaid license fees for Vegas property". Reno Gazette Journal. Retrieved June 28, 2019.
  14. ^ Paul Newberry,Hawks will not be sold to Alex Meruelo, Deseretnews.com, 4 November 2011
  15. ^ "NHL approves sale of Arizona Coyotes to businessman Alex Meurelo". KNXV-TV. June 19, 2019.
  16. ^ "Meruelo to take over Coyotes as 1st Latino owner". ESPN.com. June 19, 2019. Retrieved June 20, 2019.
  17. ^ "NHL bans Coyotes minority owner Barroway following domestic violence arrest". ESPN.com. March 25, 2023. Retrieved March 27, 2023.
  18. ^ "NHL BOG approves establishment of new franchise in Utah | NHL.com". www.nhl.com. April 18, 2024. Retrieved April 19, 2024.
  19. ^ "Arizona Coyotes announce development plans in north Phoenix, auction pending - The Arizona State Press". www.statepress.com. Retrieved April 19, 2024.
  20. ^ Morgan Brennan, Inside Indian Creek Island, Miami's Billionaire Bunker, Forbes.com, 23 August 2012
  21. ^ Celia Ampel, Indian Creek Village is for the uber-rich, Miamiherald.com, 11 October 2014
  22. ^ Chris Pomorski, Would-be Hawks Owner Soars Into $10.79 M. Fifth Avenue Condo, Observer.com, 27 March 2014
  23. ^ (in Spanish) El multimillonario cubano Alex Meruelo gana la puja a un francés y compra la isla española de Colom, Cibercuba.com, 7 June 2018
  24. ^ Catherine Reagor, Arizona Coyotes owner buys $12.1M home in Paradise Valley; former PetSmart CEO sells one, AZCentral.com, 21 June 2021
Retrieved from "https://en.wikipedia.org/w/index.php?title=Alex_Meruelo&oldid=1222624424"