Alex Meruelo
Alex Meruelo | |
---|---|
Born | Cuban-American | March 27, 1964
Education | California 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 |
Spouse | Liset Meruelo |
Children | 3 |
Alex Meruelo (born March 27, 1964) is a
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
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
Professional sports
In November 2011, Meruelo's bid to take ownership of the
After a troubling tenure as owner, 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.[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
In June 2021, Meruelo purchased a 22,000-square-foot, $12.1 million house in Paradise Valley, AZ.[24]
References
- ^ Executive Profile: Alex Meruelo, Bloomberg L.P.
- ^ 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
- ^ "Alex Meruelo: Executive Profile and Biography - Businessweek". Businessweek. Retrieved September 29, 2016.
- ^ "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.
- ^ a b Tucker, Tim (August 8, 2011). "L.A. businessman buying majority stake in Hawks". ajc.com. Retrieved March 1, 2012.
- ^ "NBC sells KWHY-TV Los Angeles to local businessman Alex Meruelo". Latimesblogs.latimes.com. January 26, 2011. Retrieved March 1, 2012.
- ^ 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.
- ^ "KXOS Sold to Meruelo | RadioDiscussions". Retrieved April 18, 2023.
- ^ "Alex Meruelo | Commercial Bank of California". www.cbcal.com. Retrieved June 20, 2019.
- ^ Meruelo Group to invest more than $25 million in renovations at Grand Sierra Resort and Casino, Visitremotahoe.com, 13 September 2011
- ^ Wayne Parry, Trump Plaza in Atlantic City sold for $20M, Newsday.com, 14 February 2013
- ^ Atlantic City's Trump Plaza Sold for Fire-Sale Price, cnbc.com, 15 February 2013
- ^ "Alex Meruelo, owner of GSR, sued over unpaid license fees for Vegas property". Reno Gazette Journal. Retrieved June 28, 2019.
- ^ Paul Newberry,Hawks will not be sold to Alex Meruelo, Deseretnews.com, 4 November 2011
- ^ "NHL approves sale of Arizona Coyotes to businessman Alex Meurelo". KNXV-TV. June 19, 2019.
- ^ "Meruelo to take over Coyotes as 1st Latino owner". ESPN.com. June 19, 2019. Retrieved June 20, 2019.
- ^ "NHL bans Coyotes minority owner Barroway following domestic violence arrest". ESPN.com. March 25, 2023. Retrieved March 27, 2023.
- ^ "NHL BOG approves establishment of new franchise in Utah | NHL.com". www.nhl.com. April 18, 2024. Retrieved April 19, 2024.
- ^ "Arizona Coyotes announce development plans in north Phoenix, auction pending - The Arizona State Press". www.statepress.com. Retrieved April 19, 2024.
- ^ Morgan Brennan, Inside Indian Creek Island, Miami's Billionaire Bunker, Forbes.com, 23 August 2012
- ^ Celia Ampel, Indian Creek Village is for the uber-rich, Miamiherald.com, 11 October 2014
- ^ Chris Pomorski, Would-be Hawks Owner Soars Into $10.79 M. Fifth Avenue Condo, Observer.com, 27 March 2014
- ^ (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
- ^ Catherine Reagor, Arizona Coyotes owner buys $12.1M home in Paradise Valley; former PetSmart CEO sells one, AZCentral.com, 21 June 2021