May 10, 2012, 4:43 PM EDT
Today in St. Louis, the Blues held a press conference to formally announce the sale of the club to a group of local investors led by former minority owner Tom Stillman.
Also on hand was NHL commissioner Gary Bettman to throw his full support behind the new ownership.
“We know the future is extraordinarily bright,” said Bettman, as per the Associated Press. “The balance sheet looks much, much better, much, much stronger.”
No surprise Bettman mentioned the balance sheet – according to Forbes’ most recent franchise valuations, the Blues had the third-highest debt/value ratio in the NHL.
The most indebted team, according to Forbes, was New Jersey, and servicing the debt has been problematic to say the least for Devils owner Jeff Vanderbeek.
There are 16 major investors in the Blues, all with local ties and all, presumably, with the connections to hit up St. Louis-area businesses to sell sponsorships, season tickets and perhaps even convince additional investors to come aboard.
- Report: Plotnikov paid $500K to get out of KHL contract 8
- Philadelphia signs ’15 first rounder Provorov 8
- Brandon Saad brings championship experience to Blue Jackets 20
- Sharks sign Joel Ward to three-year deal 21
- Sabres lock up O’Reilly through 2022-23 71
- Locked in: Columbus signs Saad to six-year, $36M deal 27
- Oilers sign McDavid to entry-level contract 29
- ‘Hawks would like to re-sign Oduya, but still working through ‘financial hurdles’ 17
- Trade: Caps acquire Oshie from Blues for Brouwer, Copley and draft pick 73
- Voynov takes plea, gets 90 days in jail plus probation 66
- Blockbuster: Kessel traded to the Penguins (131)
- Trade: Flyers send Rinaldo to Bruins for 2017 third-rounder (105)
- Trade: Jackets land Saad; Anisimov and Dano headed to Chicago (93)
- Bypassing a buyout? Kings terminate Richards’ contract for ‘material breach’ (90)
- Trade: Caps acquire Oshie from Blues for Brouwer, Copley and draft pick (73)