Nov 3, 2011, 9:08 AM EDT
The Dallas Stars sale is a one man race as Vancouver businessman Tom Gaglardi is reported to be the only person to put a bid in for the team. Forbes.com’s Mike Ozanian reports that while the process for bids on the team was open to anyone willing to throw in on them, Gaglardi was the only guy to do so.
The process of selling the team is an exhaustive one but one that has a simple and eventual finish. While the team will be put through the bankruptcy process thanks to former owner Tom Hicks being terrible about managing his properties, the eventual end game here is that Gaglardi will buy the team and allow the Stars to operate like a normal franchise again instead of like the apprentice to the Coyotes.
The final sale price for the Stars is set to be around $260-$270 million which will take care of their debts, Hicks’ other issues, as well as half the price for American Airlines Arena where the Stars play. That’s a lot of hooch for a hockey team but in the case of the Stars, getting their ownership stuff figured out and allowing them to operate normally should help bring the rabid Stars fanbase back.
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