Dallas Stars Sale: DMN Reports Significant News Possible By Weeks End

While the hockey watching public focuses its attention on Winnipeg and their reception of the Atlanta Thrashers today, news is finally starting to leak out of the Dallas Stars camp that anxiously awaits Tom Gaglardi's signed purchase agreement as the next step in the official changing of the ownership guard.

Today Dave Shoalts of the Globe and Mail said on Twitter that the sale could be done in the coming weeks, Gary Bettman said on television that things are moving forward and also used the term "weeks", and now Mike Heika of the Dallas Morning News is reporting that the Stars are hopeful some kind of announcement can be made by weeks end.

It's important to note right now that any announcement this week would NOT be a done deal, but another step in the process.

The biggest hurdle remaining seems to be time right now in relation to July 1st and the beginning of free agency. If Gaglardi does finish the paperwork a bankruptcy court will likely present other interested parties with either 30 or 60 days to come up with a better bid, and that would delay Joe Nieuweyndyk in his efforts to find a new head coach as well as woo Brad Richards when the free agency period begins.

It's late enough now that we can probably say that the team will not be officially sold by July 1st, even if the bankruptcy court only issued a 30 day period AND there were not further bids on the team. That doesn't necessarily mean that Joe Nieuwendyk is powerless come July 1st, as we'll continue to expand upon soon.

Mike Heika on potential other bidders, including Dallas Mavericks owner Mark Cuban...

According to sources, Dallas businessman Doug Miller and Dallas businessman Billy Quinn would still be interested in looking at the offer and possibly trying to better it in hopes of getting the team. Mavericks owner Mark Cuban is working with Quinn, accourding to sources. Sources also confirm that at least one other interested party has been studying the Stars' finances and could be open to making a bid that would exceed Gaglardi's.

A bidding war would be ideal for the lenders, and the thought of people fighting over this franchise is an attractive one to all for the future of this club, but at what immediate cost to next season?

As always, things are moving... Check out Heika's full article on the DMN before they put it behind a pay wall.