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New Owner In Dallas

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.

continued

Filed in: NHL Teams, Dallas Stars, | KK Hockey | Permalink
  Tags: tom+gaglardi

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About Kukla's Korner Hockey

Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com

 

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