Sale Updates: Gagliardi Inches Closer


Gagliardi – the closest thing to a perspective buyer for the team – spoke on CHNL 610 AM out of Kamploops, here’s some key questions answered during the interview on the sale/purchase of the team.

On the purchase attempt:

“That’s a work in progress. It’s been going for well over a year. It’s a team that I have great interest in and hopefully close to concluding the agreement to acquire the team. But still it will be subject to a long, lengthy court process given the history of the Stars and Rangers credit facilities. Although we might get something done here quickly, it is still a few months away in terms of where we know where this thing lands and who ends up owning the club.”

Will this deal include the club, taking over some debt and a half interest in the American Airlines Center

“Correct.”

What is it about the Dallas Stars?

“My mother is from there, so I have half my family living in the Dallas/Fort Worth area. I used to go there every summer to visit grandparents and aunts and uncles until I got too old to keep doing that. There’s a huge familiarity with me being in that marketplace. Other than most of the Canadian teams and some original six teams, Dallas, to me, would be in the top six teams personally for me to be involved with. It’s now the fourth largest market in America. Huge growth potential and the most valuable franchise in the world in headquartered there, the Dallas Cowboys. I think it is a marvelous opportunity in a market that is second to none, and a market that used to lead the NHL in revenue. “

On the timetable:

“I would think two to four months is the window to get through a court process and those things. That would be the time frame we are looking at.”

This interview gives us a realistic time-table for this process.  While, clearly they are closer to an official offer being on the table, after that comes the court process which will take the longest.  The variable will be whether or not someone matches his offer as that would elongate the ordeal.  A lot of what Gagliardi is saying puts a bit of a damper on what was said in an interview with the St. Louis Post-Dispatch in which St. Louis rep had to say this about the Stars sale:

“We’re basically told that it is going to happen any day,”  –  “I don’t think it puts us in a bind. If are smart, they’ll submit a compelling proposal with respect to the Blues, but I can’t predict what they’ll do.”

He was of course referring to the St. Louis Blues NHL franchise which is also looking for a new owner.

 

Tags: Dallas Stars Ownership St. Louis Blues Tom Gagliardi