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NHL Board of Governors OKs sale of St. Louis Blues
Question of the Day
The sale price was not disclosed, but is believed to be about $130 million.
The Stillman group will become the eighth owner of the Blues since the franchise came into existence in 1966. The group is buying the team from a group headed by Dave Checketts and his Sports Capital Partners Worldwide.
Spokesmen for the Blues and the NHL declined comment beyond a one-sentence news release from the league announcing approval of the sale. A news conference is expected on Thursday in St. Louis and may include NHL Commissioner Gary Bettman.
Other members of the group have not been announced. The $130 million price is well below the $157 million that Forbes had valued the Blues in December, which was 27th among the 30 NHL teams according to the magazine. It is also less than the $150 million price that the team sold for in 2006.
Stillman’s group is getting what appears to be one of the up-and-coming teams in the NHL. After nearly a decade of struggles, the youthful Blues had the second-best record in the Western Conference this past season. They advanced to the second round of the playoffs before being swept by the Los Angeles Kings in four games in a series that ended Sunday.
Checketts, whose investment company also owns Real Salt Lake of Major League Soccer, had tried for months to put together a group of local investors to buy out Towerbrook but couldn’t come to an agreement.
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