The orphan Dallas Stars are one giant step closer to having a new owner. Vancouver business man Tom Gagliardi has filed his papers to the NHL to purchase the team. The only problem, and it could be a big problem, is that it has to be approved by not only the NHL but the lenders as well.
There’s a gaggle of lenders who are licking their chops at being re-paid and the future of the well being of the Stars isn’t their main concern. Since the sale price will be less than the total debt owed by Tom Hicks, lenders will be paid back only partially and in some cases not at all. This of course won’t please everybody and if someone decides do deny the purchase, that could delay things big time.
There’s also the chance that another bidder could come forward and up the dollar amount, meaning Gagliardi could either up his bid, or walk away.
Either way, it’s not exactly a sale yet and things still have to be worked out, but it’s a big step and the ball is finally rolling.
About the Author
Written by Travis Currie
Im your typical sports fan. Just a little more crazy about it. I live and die for my teams and I drive my girlfriend nuts. I consider myself the world's biggest Stars fan. Ive been a fan since I was a young kid going back to the mid 80's. Favourite Stars player of all-time is of course Mike Modano. Favourite non-Stars player of all-time is Peter Stastny. I love talking sports so please leave a reply to anything you agree or disagree with. If youd like to contact me my email is firstname.lastname@example.org