Kukla's Korner Hockey
by Paul on 01/20/12 at 02:54 PM ET
from Jeremy Rutherford of the St. Louis Post-Dispatch,
A group led by Blues minority owner Tom Stillman has signed a purchase agreement to buy the club, a source has told the Post-Dispatch.
The Blues and Stillman must now complete the sale and have it approved by the NHL, a process that could take several weeks. The league’s Board of Governors will meet Jan. 28 in Ottawa during the all-star festivities, but it’s expected that only an update on the Blues’ situation would be discusssed, not a vote.
The step of Stillman’s group signing a purchase agreement comes 2 1/2 weeks after the NHL terminated a purchase agreement between the Blues and Chicago businessman Matthew Hulsizer. The league then granted Stillman an exclusive negotiating window, leading to today’s news of a signed purchase agreement.
The price of the package, which includes the Blues, the team’s top minor-league affiliate in Peoria, Ill., the Scottrade Center lease and significant interest in the Peabody Opera House, is expected to be approximately $130-135 million.
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