Kukla's Korner Hockey
by Paul on 11/18/11 at 01:23 PM ET
from Mark Stepneskiof ESPN Dallas,
The Dallas Stars officially have a new owner after a bankruptcy court in Delaware approved the sale of the team to Vancouver businessman Tom Gaglardi and confirmed the Stars’ prepackaged bankruptcy plan Friday.
The NHL Board of Governors have already approved the sale.
It will be the end to a tough chapter in the franchise’s history, beginning when the Hicks Sports Group ran into financial difficulties, defaulted on $525 million in loans in 2009, put the club up for sale in early 2010 and eventually saw the team run by the league and lenders.
Gaglardi is president of Northland Properties Corporation, which he and his family run. The company owns and operates hotels and restaurants in Canada and employs more than 10,000 people.
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