Thread: Dallas Stars to file bankruptcy and auction the team off

Report: Stars bankruptcy filing will lead to auction - NHL.com - News

According to reports, the Dallas Stars will file for bankruptcy and sell the club at an auction.

Bloomberg reported on Wednesday that owner Tom Hicks' plan to file for bankruptcy -- as early as Wednesday -- as a means to start the auction process has been approved by the majority of the team's creditors, according to a source familiar with the plan.

It is expected that once the Stars enter into the auction phase, investor Tom Gaglardi, chairman and chief executive officer of Sandman Hotels, Inns & Suites, would be the lead bidder for the team, according to the story. Other potential buyers could then make bids until a final price is reached.

If Gaglardi, a Vancouver-based businessman, wins the bidding process, he would take control of the franchise as well as 50 percent of American Airlines Center, the Stars' home. Mark Cuban, who owns the NBA's Dallas Mavericks, owns the other 50 percent of the arena.

The final buyer would have to be approved by the NHL (Betman). The NHL (Betman) would not not allow just anyone to buy the team.

Originally Posted by Len-Det64

The final buyer would have to be approved by the NHL (Betman). The NHL (Betman) would not not allow just anyone to buy the team.

Oh...man. I was gonna bid. Crap.

jom

do i smell another relocation to greener pastures?

Originally Posted by jom

Oh...man. I was gonna bid. Crap.

jom

jom, I like you and will invest $20 alongside you.

They had to do the same with the Rangers because of how his sports empire was structured.

They have a buyer, this is purely procedural.

Are they moving back to Minassota?