Hulsizer interested in purchasing St Louis Blues?

[Whileee]

Hedgefunder. Peak6 Investments which he runs with his wife, Jenny Just (whose family is also very wealthy) out of Chicago. Reputedly has a personal net worth somewhere between $300M & $650M+, though un-confirmed.

I suppose it's anybody's guess about his net worth. GSC implied some time back that he thought Hulsizer had a lot more coin than that, reasoning that hedge fund managers pull in $100 million annually, or more.

I was always puzzled as to why Hulsizer seemed so recalcitrant in increasing his financial commitment to the purchase of the Coyotes if: a) he was very motivated to own an NHL franchise, b) he saw real potential for success in Glendale and, c) he had great wealth to the extent that an extra $50 million wouldn't create too much of a ripple in his personal wealth.

Since I believe that he very much wants to own an NHL franchise, I concluded that either he has real doubts about the financial prospects in Glendale, or his net worth is marginal for taking on this sort of an investment, or both.

 

[therealkoho]

The house that Gary built and the card that MH doesn't seem to want to play maybe because it isn't up his sleeve

 

[gifted88]

St.Louis is looking for a majority investor, that's very different then MH heading a group to buy a hockey club.

 

[Killion]

I was always puzzled as to why Hulsizer seemed so recalcitrant in increasing his financial commitment to the purchase of the Coyotes if: a) he was very motivated to own an NHL franchise, b) he saw real potential for success in Glendale and, c) he had great wealth to the extent that an extra $50 million wouldn't create too much of a ripple in his personal wealth.

I suspect there be truth in koho's cartoon. The simple-stupid rule in putting together a deal of the magnitude that he did in Phoenix was tossed out the window as it usually is when people are under-capitalized. Hell, an extra $25M let alone $50M wouldve gone a long way towards ameliorating the very real jeopardy the taxpayers in Glendale would be living under for 30yrs; provided some relief for the COG in terms of being able to both placate the GWI; expedite a closing. If he's serious, has the readies, there were/are ways to get it done even yet in Phoenix, and if untenable, how about St.Louis, NC, Atlanta, Minnesota, Long Island, wherever else?..... So just how serious a player is the guy?. He, along with his minority partners in IEH's who have split, appear to have been playing Fantasy Owner Camp.The jury's still out on that one, though cryptically, even Councilor Phil Lieberman was complaining about the fact that he "couldnt get a read on Hulsizers financials".

 

[Killion]

St.Louis is looking for a majority investor, that's very different then MH heading a group to buy a hockey club.

Ya, they sure are. Dave Checketts' has been looking for someone to buy TowerBrook Capitals 95% stake in the club for $165M in cash; assuming another $120M in debt on the Blues & Scottstrade Center, while leaving him in charge, calling the shots. Would you do that?. I surely wouldnt. If Hulsizer has the money, he can buy the Blues from TCP & oust Checketts no problem.

 

[Fugu]

So how exactly does Hulsizer have his money anyway. I can't seem to recall....

Hedgefunder. Peak6 Investments which he runs with his wife, Jenny Just (whose family is also very wealthy) out of Chicago. Reputedly has a personal net worth somewhere between $300M & $650M+, though un-confirmed.

This number keeps growing. How is your net worth either $300 MM (the only reported figure iirc) and over twice that amount?

http://blogs.forbes.com/mikeozanian/2011/05/11/st-louis-blues-have-same-problem-as-new-york-mets/

But the real reason Checketts is on his way out, according to one person familiar with the ongoing sale process, is that no investor is willing to fork over $165 million, including the assumption of $120 million of debt tied to the Blues and the Scottstrade Center, and let Checketts keep calling the shots.

So, will Hulsizer jump at $285M for the team, arena, and debt, after only wanting to fork out $70M on the Coyotes?

It took a rocket surgeon to figure that one out. Yes, I'd love to own an NHL team, but here's a few hundred million of MY money so you can run things. Come on. I'm shocked Checketts ever thought it was conceivable.

Im tired of correcting people about this like in every blues thread, but Checketts does not own the Scottrade Center nor is the the Scottrade Center for sale it is owned by the City, dont believe me? well then go to scottrade centers website and look it up



The lease agreement is for sale, of course it pays a lot less money then the PHX deal, but the building itself is not for sale.

But I cant really get to mad at ppl on here for messing it up when professional journalist get it wrong in just about every article they right about the team.

Shorton, do you have any more details on the lease agreement? I remember seeing something when Checketts et al. took over.

 

[Fidel Astro]

If the Hulsizer/St. Louis rumours are true, I'm curious to know how Coyotes fans feel about it.

There have been quite a few 'Yotes fans who have had the attitude of being 100% behind Hulsizer (we've all seen the avatars, etc.) If he's truly dropped out of the running for the Coyotes and is now trying to purchase another team... do you Coyotes fans see that as a betrayal?

Do you think (again, assuming this St. Louis stuff is true) he ever cared about your team at all, or was he just looking for a cheap deal?

I'm not trying to do some kind of 'nyah-nyah-Hulsizer didn't buy your teee-eeeam' crap here. I'm just honestly wondering what Coyotes fans - who have been pretty passionate about defending the guy's motives up to this point - think about this turn of events.

 

[BuffaloAZ]

Personally, I always saw Hulsizer as Ice Edge part 2. He seemed a bit more serious, but they both just put on a show. Would I like to see him purchase the Coyotes...Heck ya I would. Would I be mad at him for buying th eBlues...only if that leaves no one to buy the Coyotes!

 

[Killion]

This number keeps growing. How is your net worth either $300 MM (the only reported figure iirc) and over twice that amount?....I'm shocked Checketts ever thought it was conceivable.

I havent got a clue Fugu. Ive seen reports of $300M to speculation that the guys worth $650M+...... no idea. As for Checketts; overarching sense of self importance & entitlement?. Hubris?. Again, no idea. Pretty much useless I am I am huh?....

 

[sh724]

Ya, they sure are. Dave Checketts' has been looking for someone to buy TowerBrook Capitals 95% stake in the club for $165M in cash; assuming another $120M in debt on the Blues & Scottstrade Center, while leaving him in charge, calling the shots. Would you do that?. I surely wouldnt. If Hulsizer has the money, he can buy the Blues from TCP & oust Checketts no problem.

Towerbrooke does not own 95% they own 75%. Checketts is not looking for someone to help buy out towerbrooke he quit looking when towerbrooke turned down his offer. Checketts and his friends then decided they were all going to sell their portions which was about 15% more of the team. The other 10% is owned by Stillman who, to public knowledge is the only person to put in an offer for the 90% that is for sale.

 

[sh724]

Shorton, do you have any more details on the lease agreement? I remember seeing something when Checketts et al. took over.

Did a little searching and could not find anything other than the same 'long term lease' line over and over but no real details.

I did learn SPC thinks Wikipedia is a credible source and consideres the stuff on their fact.

 

[Killion]

Towerbrooke does not own 95% they own 75%.

Thanks for the clarification. Whats with Oznians' report in Forbes?. Based my numbers on that.

 

[sh724]

Thanks for the clarification. Whats with Oznians' report in Forbes?. Based my numbers on that.

What report was that? The link in the first post does not talk about Checketes or towerbrooke

 

[Killion]

http://blogs.forbes.com/mikeozanian/2011/05/11/st-louis-blues-have-same-problem-as-new-york-mets/

What report was that? The link in the first post does not talk about Checketts or TowerBrooke

cbcwpg's posted link. Factually incorrect?....

 

[sh724]

cbcwpg's posted link. Factually incorrect?....

No the article is correct, i think you misread it. The article says Checketts had 95% of the money needed to buy the portion of towerbrooke that was for sale. The numbers the article talks about for the sale price I have no idea if they are correct Checketts does a good job of keeping things quiet, but it would not surprise me if 'the source' was connected to Stillman and if thats the case those numbers are probably correct. Also at the time Checketts was still looking for investors Towerbrooke was not selling all 75% of their investment they were going to keep atleast 25% of what they owned. But since Checketts took so long to come up with the money needed Towerbrooke decided to sell all 75% which is when Checketts and friends decided to sell their 15%.

 

[Overkamp]

So are the Blues in Hulsizer's sights now?

Given the report that he has pulled his bid for the Coyotes does this mean the Blues are the next venture/attemp for the Chicagoan?

 

[Stang]

A man from Chicago owning our Blues would be tough to accept but if he would be a dedicated owner who can spend above the cap floor while still keeping the team in STL...then why not?
That said...I don't know much at all about Hulsizer to know if he fits that description.

 

[Chojin]

Is Hulsizer interested in owning any NHL team, or just the Coyotes? If it's the former, maybe he'd join forces with the Stilman group to purchase the Blues.

 

[Overkamp]

A man from Chicago owning our Blues would be tough to accept but if he would be a dedicated owner who can spend above the cap floor while still keeping the team in STL...then why not?
That said...I don't know much at all about Hulsizer to know if he fits that description.

Long as he's a White Sox fan, then it doesn't matter

In all honesty what teams are currently for sale?

Dallas and Buffalo are done or nearly finished. Thrashers moved. He can't afford the Leafs (very few can).

Am I missing something?

 

[sh724]

Long as he's a White Sox fan, then it doesn't matter

In all honesty what teams are currently for sale?

Dallas and Buffalo are done or nearly finished. Thrashers moved. He can't afford the Leafs (very few can).

Am I missing something?

Leafs are for sale I believe.

 

[Stang]

Leafs are for sale I believe.

VVV

Dallas and Buffalo are done or nearly finished. Thrashers moved. He can't afford the Leafs (very few can).

 

[GKJ]

Where is this report? What am I missing?

 

[GKJ]

Here's a couple links:
http://sports.espn.go.com/nhl/news/story?id=6710294

Hulsizer's departure leaves the team's already tenuous future in Arizona even less certain than before. It's believed Chicago Bulls and White Sox owner Jerry Reinsdorf, an on again off again suitor for the team in the past two years, is back in the picture as a potential owner as well as another group, the source said.

Another source told ESPN.com on Monday the Hulsizer withdrawal doesn't necessarily jeopardize the Coyotes' prospects and that there remains optimism a new owner will be in place by the end of August.

Right.

http://www.bizjournals.com/phoenix/news/2011/06/27/matthew-hulsizer-ends-bid-to-buy.html

Hulsizer is still interested in buying another National Hockey League franchise but is not longer trying to buy the Coyotes, according an official familiar with the situation.
The official, who asked not to be identified, said the Hulsizer ownership group did not want to go through another several-month process of Glendale trying to sell the Coyotes to their group or other potential owners.

 

[Overkamp]

http://www.bizjournals.com/phoenix/news/2011/06/27/matthew-hulsizer-ends-bid-to-buy.html?ana=twt

 

[Guy Legend]

Whoever buys the St. Louis Blues will get a passionate fan base that sells out the arena and a franchise with a strong core and promising future in place.

If Hulsizer is truly still interested in owning an NHL team, you'd think he would have to be interested in the St. Louis Blues.

There's absolutely nothing wrong with a guy from Chicago owning the team. If he's passionate about hockey, he will want to win. That would be welcome news to Blues fans.