Phoenix Coyotes, St. Louis Blues, Dallas Stars sale update

Currently the NHL has three franchises for sale. The Phoenix Coyotes, St. Louis Blues, and Dallas Stars. Of course given the state of the economy these sales are tough, but several local problems have also hampered the progress of the sales of these three clubs. The Coyotes have been for sale for years, and the city council of Glendale, AZ is the major sticking point there. In Dallas, the sale is being held up due to the large number of creditors that must be pacified, and in St. Louis the sale of the Blues is being held up as ownership groups are considering making bids on the Stars.

We start in Phoenix where two groups are rumored to be interested in buying the team. One of those groups is likely headed by Jerry Reinsdorf (who owns the Chicago Bulls and White Sox). The hold up there is any new ownership group is going to want an opt out clause from the team’s current 30 year lease. Meaning they want out if the local populace cannot or will not support the team. So far the city of Glendale has been unwilling to grant a clause like that (and since they own the building and have shelled out millions to keep the team in town) we can understand why. However, they will likely have to do so. In the end it is not so bad, as any hint of success should bring in fans and local sponsors.

In Dallas, Tom Gaglardi is serious about buying the Stars, and he reported to be in New York working out deals with all of the creditors. His bid will likely get through and be overseen by a bankruptcy judge. There are a few other groups interested in the Stars and the Blues and it seems likely right now the Stars sale will happen first with whoever gets locked out of that moving on to the Blues. Gaglardi seems to have little interest in buying the Blues.