The Sale of the Dallas Stars: A Timeline

When did this all start? How fast is it going? When could it be done? How long has it taken other teams to get sold in the past?

The answers to these questions will be drastically different from situation to situation of course. The Lightning got sold relatively quickly. The Coyotes have been in some kind of financial distress/flux for years now. The Stars themselves have gone from "might get sold" to "things are moving quickly" in relatively short order, but Tom Hicks' problems go back well over a year now, and the Rangers drawn out process has been well documented locally.

When it's all said and done, it would be nice to have a time line, I said to myself. So here is an on-going effort to chronicle the sale of the team as seen on this blog and others. An effort that will no doubt start out incomplete, but fill in as we go along...

After the jump, the timeline (help us fill in the blanks in the comments) and the most recent rumblings from Mike Heika on the situation...

April 14th, 2010: The most recent newsy items on the sale of the team: Mike Heika had a chat yesterday on his blog at the Dallas Morning News and had a couple of interesting tidbits...

The people I have talked to said that the Hicks Sports Group loans are protected by a covenant between the NHL and the lenders that no legal action (regarding the March 2009 default) can be taken for the length of the season or 60 days after, so I believe HSG has until August to get this done before things get really ugly.

But I thought the Texas Rangers deal would be done months ago, and it still isn't done.

I believe there are three groups who have submitted applications and are being vetted by the league, and HSG has to grant one an exclusive negotiating window. So we're still early in the process before we even get there (I think the window is usually 45 days). Mix in the fact that the sale of the Rangers could eventually affect what the lenders want to get out of the Stars, and it could take a while once they eventually decide on a buyer and a price.

If nothing is done before August (or well on it's way to being done) it will be interesting to see what kind of legal action could be/would be taken against him.

It's going to be a very interesting off-season indeed.

 

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