Kukla's Korner Hockey
Stars in Holding Pattern Waiting for Ownership Resolution (Updated)
by Alanah McGinley on 04/29/11 at 03:38 PM ET
Comments (0)
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.
Filed in: | KK Hockey | Permalink
Tags: joe+nieuwendyk,
tom+gaglardi
Comments
Be the first to comment.
Add a Comment
Please limit embedded image or media size to 575 pixels wide.
Add your own avatar by joining Kukla's Korner, or logging in and uploading one in your member control panel.
Captchas bug you? Join KK or log in and you won't have to bother.
Most Recent Blog Posts
Phil Housley Named Assistant Coach For Nashville
Kearns Finally Found The Right Situation
Detroit Is Finding New Ways to Win
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
