Globe & Mail Report: Stars Sale Down To Two Canadians
While you most likely slept, the Canadian national paper "The Globe And Mail" and reporter David Shoalts had a very interesting bit of new info to share in terms of the ongoing sale of your Dallas Stars and how it is now down to a two group race between two western Canadian businessmen:
The next owner of the Dallas Stars will be a Canadian, according to an NHL source familiar with the sale negotiations.
The sale is now down to a two-horse race between Calgary oil man Bill Gallacher and Vancouver businessman Tom Gaglardi. A third group, headed by former Stars president Jim Lites and Dallas businessman Billy Quinn, which got some attention because it courted Stars hero Mike Modano, has dropped out of contention, according to two sources.
It may be a little disappointing for Stars fans to find out that the local option that featured our favorite #9 may be out of the ownership picture, but Stars fans should be very encouraged by the prospect of either Bill or Tom becoming an owner for the Stars. Both have great connections to the sport and would not be owning a team for a simple tax write off. Both men own teams in the Western Hockey League - Bill owns the Portland Winterhawks while Tom is a majority owner of the Kamloops Blazers along with NHL-ers Shane Doan, Jarome Iginla, Mark Recchi and former Star Darryl Sydor.
It's almost a dream scenario for the NHL as they are a league that could use a smooth and painless franchise transaction after having dealt or still dealing with ownership issues in Tampa Bay, Atlanta, Nashville of course Phoenix. As our pal Brandon Worley over at Pro Hockey Talk points out, it's also a move that could leave Stars fans very happy:
The key words there are "deep pockets". As Hicks' spending habits started to dry up, so did the Stars ability to continue to maintain a high level of success. While there certainly some growing pains associated with the transition to Joe Nieuwendyk's and coach Marc Crawford's new system, it's seemed for the past few seasons that the Stars were just a few players away from truly being special -- especially on defense.
The Stars are currently sitting $14 million or so under the salary cap with six spots open on the roster. In reality, the team is handcuffed by an internal budget that likely limits the Stars to $10 million under the cap; a very painful proposition for fans that see a team on the cusp of making the next step.
Of course it's easy to get carried away with such good news, but we should all keep in mind this is simply a report according to unnamed sources. The Globe's David Shoalts does have a pretty good finger on the pulse of NHL ownership matters, but still as we've seen with the Rangers sale selling off the once great Tom Hicks empire can be a tricky procedure and until we get some official words from either the Stars or the NHL, we'll have to take these bits of news with a grain of salt.
And lest we forget, as good as the news is right now in early June it still probably won't matter come July when the free agent market opens as was also pointed out by Brandon:
It's highly unlikely that a change in ownership will be able to help the Stars this summer -- free agency begins in July and the board of governors still needs to vote on which ownership group they'd approve. It's more than likely that both Gaglardi and Gallacher would be easily approved, it's just a matter now of HSG and Tom Hicks deciding on the better offer.
Still the news overall is very encouraging for both the NHL in Texas and Stars fans all over.
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Just a joke
Art is Canadian. I love Art!
by Brad Gardner on Jun 14, 2010 2:09 PM CDT up reply actions
You know, this is pretty exciting.
The idea that there are two people who WANT to own a hockey team AND they want the Stars is a very nice one indeed.
Though, the sale price of 200-240 million is quite a bit less than we would have guessed a year ago. That’s life in the NHL, I suppose.
I'm sure that missing the playoffs 2 seasons in a row has something to do with it...
not to mention the fact that these guys probably know that Hicks is being forced to sell at this point…. They might be able to get a pretty good deal for the team
i think it's great
deep pockets. experienced and known hockey owners who are obviously into the game. i would love for a Canadian to bring a little bit of “Canada” to the Stars; ideas, passion, marketing, etc.
sure we’d like Modano to be involved somehow and he will almost certainly have a place w/ the new owners no matter who they are. Modano stepped-up when the Hicks situation turned south even though he has little money to actual “own” the Stars while part of a larger group.
we’re seeing right now w/ the Rangers that the fan-fav Nolan Ryan group is being held up at the gates b/c the lenders want the guys who offered more money. what does that say abt the financial viability of the Rangers going forward? if they couldnt pony up an extra $20 million on top of $550 or whatever it was?
by ludwig's mullet on Jun 14, 2010 10:14 AM CDT reply actions
That’s what is exciting for me in all this.. that these two men want in to the NHL and have wanted in for the longest time. Gaglardi especially has wanted to run his own team. Not saying that the Ryan group doesn’t want in as badly with the Rangers, but you can tell those guys are trying to get in on a strict budget.
While I wouldn’t expect either Bill or Tom to throw around money like it’s nothing, I do expect that these guys also won’t scrimp on team budgets or expenses.
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by Art Middleton on Jun 14, 2010 10:24 AM CDT up reply actions
Extremely exciting, for all the reasons you all mentioned.
As cool as it would’ve been to have a Modano-involved ownership group, I’d almost prefer a Canadian owner like these two to take control. And the fact that they both have done this before is very comforting to hear…..it sounds like our new owner will be one who is experienced, eager to be involved, knows what he’s doing, and will be highly invested in making this team a winner again.
As a Stars fan, this news makes me feel great.
BTW, hate Bettman all you want…but if the Tampa Bay situation and the Stars situation tell you anything, it tells you the man can certainly find good owners for the league.
And also...
Shoalts mentions that Gaglardi tried to move Atlanta to Hamilton…..don’t draw any conclusions there and think he’s interested in moving Dallas, because that’s an entirely different situation, and no sane bidder for this team would attempt that.
Don’t think a lot of people would draw that conclusion, but thought I’d point this out just in case.
Here's a thought:
We get sold before next summer, re arrange the budget and make a run at Shea Weber next summer. Or more far fetched: Entice Versteeg here with a one year deal saying we’ll re up you when we’re sold which will be in X amount of months, and then get weber the following as well. I know that these are VERY VERY slim but it’s fun to dream. Any thoughts?























