Kukla's Korner Hockey
Stars in Holding Pattern Waiting for Ownership Resolution (Updated)
by Alanah McGinley on 04/29/11 at 12:38 PM ET
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From Mike Heika at Dallas News:
Nieuwendyk said he is in wait-and-see mode on many decisions.
As for the coach search, Nieuwendyk said the front office will get together to form a plan, but that there is a chance that the decision will need to be put on hold until a new owner is in place.
``We are sort of on hold in a lot of different areas because of the ownership situation,’’ said Nieuwendyk. ``We have a plan for the next couple of weeks, but we’ll form our timeline for the coach search at that time. We really haven’t even started yet.’‘
Update 3:08pm ET: From Mike Ozanian at Forbes.com—
Tom Gaglardi has offered to buy the NHL’s Dallas Stars and 50% of American Airlines Center from the bankers who took over the team from Tom Hicks for $100 million of assumed debt, a person familiar with the negotiations told me.
The $100 million could go to $135 million under certain conditions that were not specified to me. I am also told that the creditors would give Gaglardi a fee if he does not get the team. The arena, which is co-owned by Dallas Mavericks owner Mark Cuban, has $200 million of net debt and the Stars, which this person said lost at least $10 million before interest, taxes, depreciation and amortization during the 2010-11 season, have $35 of debt.
The $100 million is of course an unrealistically low valuation.
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Tags: Joe+Nieuwendyk, Tom+Gaglardi,
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