Early reports throughout the day yesterday all said the same thing. Even our own blog reported that there would be a delay in the sale process. The bankrupcy court situation would start later than expected.
But the lawyers behind the deal proved us wrong. So now the big news across the hockey world is that the paper was submited and now the sale is back on track.
The next step will be acceptance and then the court will open up the sale to an auction in which the other parties interested in purchasing the team will have a chance to put their bid up against Gagliardi’s. In theory if no one submits an alternative offer worth a damn, then the team could save about half a month worth of time on the sale and we could possibly see the sale go through and have a new owner in 60 days. Tentatively most sources are saying anywhere between 60-75 days before the Stars see a new owner.
The reason this is big news is that the Stars will now officially definitely have an owner. No longer are we in purgatory waiting for something… anything… to happen. Whether its Tom Gagliardi or another investment group – the Stars should have an owner in the next 2-3 months. Definitely not in time for the start of the season, but 2-3 months is better than “who knows?”
I think we can all agree on that.