- Associated Press - Thursday, May 10, 2012

ST. LOUIS (AP) - NHL commissioner Gary Bettman gave his stamp of approval to the new St. Louis Blues ownership, saying the franchise’s financial picture is much improved.

Bettman spent time at the podium alongside Tom Stillman, a beer distributor who heads an all-local ownership group, at a news conference Thursday.

Stillman introduced 16 major investors including his father-in-law, former Missouri Senator John Danforth. He said the goal was to make the franchise financially sustainable for the long haul.

The Blues were at least $10 million below the NHL’s salary cap last season.