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ONE STEP CLOSER TO SOLD
Posted By Travis Currie On Jul 29 2011 @ 10:57 pm In Dallas Stars | No Comments
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.
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