St. Louis Blues officially for sale (1/12 NHL "very involved" in finances)

[bluemandan]

Thanks for clarifying the St Lou county situation -I just meant that WHATEVER county Hulz would be dealing with, how they won't play the "give me money to buy a franchise" game.

Your right.

But to elaborate the point, St. Louis city is not in ANY county. It stands alone. Much like the cheese.

 

[Stang]

Jeremy Rutherford
Hearing that Blues are now attracting more interest from potential buyers. Stay tuned to stltoday.com or @WWDOD
just now from Twitter for Android

 

[Stang]

In addition...
http://www.tsn.ca/nhl/story/?id=371618

If Matthew Hulsizer wants to become owner of the NHL's St. Louis Blues, it appears he is going to have some competition.

Interest in the Blues has picked up, according to a source close to the sale, with three new bidders submitting offers for the team over the past several weeks.

Those bids join one from Hulsizer and as well as from Tom Stillman, who is the minority partner of current owner Dave Checketts.

It is believed some of the recent interest has come from prospective buyers who were interested in the Dallas Stars franchise, which is expected to be sold to Vancouver businessman Tom Gaglardi.

While the three additional bidders for the Blues remain anonymous, the source said the sale is expected to fetch in excess of the US$190 million paid by Terry Pegula for the Buffalo Sabres this past season.

The sale of the Blues franchise, which was purchased by Checketts for $150 million in 2006, could be completed over the next several weeks.

Checketts confirmed last week that he has been given an extension on a $120 million load used to finance his purchase of the team, in order to complete a sale before the start of the coming season.

The Blues, which were valued by Forbes Magazine last fall at US$165 million, have missed the playoffs in all but one of six seasons since the lockout that wiped-out the 2004-05 season.

 

[MissouriBlues2008]

I'm glad to hear the Blues have bidders who want to keep the team here. An owner with the capital to keep the team competitive is also important.

 

[The Note]

This is the first encouraging news on the Blues ownership situation in quite a while.

 

[therealkoho]

Just a few guesses on my part

1.Economy
2. Is owning an NHL a smart business investment? I never met anyone who likes to lose money.

.....apparently there's this feller by the name of Vinik or sumpin like that......

 

[Stang]

"Things are definitely heating up," said Caporale, who said he expects the sale to take place before the start of the season.

Read more: http://www.stltoday.com/sports/hock...77b-5d3d-aaad-afac331e518c.html#ixzz1Rzwm4jPu

 

[Free Edler]

"Things are definitely heating up," said Caporale, who said he expects the sale to take place before the start of the season.

Read more: http://www.stltoday.com/sports/hock...77b-5d3d-aaad-afac331e518c.html#ixzz1Rzwm4jPu

Awesome. Blues fans don't deserve to be left in limbo.

 

[MissouriBlues2008]

5 potential owners now
http://espn.go.com/blog/nhl/post/_/...allout-from-hulsizer-and-heatley-havlat-trade

 

[Overkamp]

5 potential owners now
http://espn.go.com/blog/nhl/post/_/...allout-from-hulsizer-and-heatley-havlat-trade

I can only hope Cuban is one of them..

 

[Chojin]

http://www.nypost.com/p/news/business/checketts_can_shop_the_blues_oXpy1v3DmPuYpI9XREyU1N

Looks like Checkett's extension was only about 60 days, so something is likely to happen before the season starts.

 

[LadyStanley]

http://www.stltoday.com/sports/hockey/professional/article_f7e69e77-4ca3-5e6c-a833-3d98b4e1db61.html

And soon there will be one.

In the coming weeks, Blues chairman Dave Checketts plans to have the number of parties interested in purchasing the team narrowed to one potential buyer.
"It's too early for that (now), but we'll be there shortly," Checketts said Wednesday. "You get to the point where you say, 'There's a highest bidder and most capable bidder' and you focus your energy. It's not there yet, but we will get there shortly ... We expect to have an orderly sale process and it'll be done by the start of the season" in October.
...
According to the Toronto Globe & Mail, Hulsizer, who toured Scottrade Center with Checketts a few weeks ago, could be preparing to offer $165 million. But there are questions about whether that would meet Checketts' number, which could be as much as $200 million.
Not naming a price, Checketts did say Wednesday, "It's a healthy price because we have a healthy franchise. I don't want to spend my time justifying the sale price. It is what it is."
Checketts does not plan to stay on board when the Blues are sold. The report in the Globe & Mail indicated that Checketts could remain a partner if Hulsizer bought the team.

 

[David Dennison]

http://www.stltoday.com/sports/hockey/professional/article_f7e69e77-4ca3-5e6c-a833-3d98b4e1db61.html

And soon there will be one.

The loan extension was only for 60 days (from July 1), so I expect to have the deal probably figured out by the end of August.

 

[LadyStanley]

The loan extension was only for 60 days (from July 1), so I expect to have the deal probably figured out by the end of August.

Perhaps they'll have a (single) owner(ship group) figured out before the end of August, but I'd expect another loan extension, if needed (during "escrow").

It does take at least a month or so for NHL owner vetting and BOG EC/full voting. (Hulsizer probably has pretty much a rubber stamp on his character, so it's just the financial set up that needs to be confirmed.)

 

[LadyStanley]

http://www.truehockey.com/articles/...ers?utm_source=twitterfeed&utm_medium=twitter

Well, don't think things will be settled by the end of the month.

Checketts sets August 22 as the deadline to submit formal offers.

Process letters were recently sent to nine individuals/groups who have expressed interest in purchasing the Blues. All interested buyers must have their formal offers in by August 22nd.

The process letter lays out everything each group must submit along with their formal offer to buy the hockey club. For example each group will need to show their primary source of capital as well as the members involved in their group among other things. Game Plan LLC, Dave Checketts, and the NHL will review all of this before they reach an agreement with a new Owner.

Hulsizer may have moved on (too expensive).

 

[Prussian_Blue]

http://www.truehockey.com/articles/...ers?utm_source=twitterfeed&utm_medium=twitter

Well, don't think things will be settled by the end of the month.

Checketts sets August 22 as the deadline to submit formal offers.

Hulsizer may have moved on (too expensive).

Please don't accept the word of Andy Strickland as definitive in any matter regarding the Blues... Strickland likes to paint himself as an "insider," but he doesn't know anything more than what he's told, and more than once has been used by the Blues' front office to float rumors just to see how the public reacts to them.

If you hear it from Jeremy Rutherford and Norm Sanders along with Strickland, then you can take it to the bank re: the Blues. If Stickland's the only one saying something about the Blues, it's probably not 100% credible.

All I'm saying is, with Strickland, use the old Russian proverb: "Trust, but verify."

 

[MissouriBlues2008]

I just want the team sold to a good owner with the passion and the resources to make and keep the Blues competitive in the NHL with their home being Scottrade Center in St. Louis.

 

[Megalodan]

and more than once has been used by the Blues' front office to float rumors just to see how the public reacts to them.

Do you know any specific instances of this?

 

[TheLegend]

"Multiple" bids received.

http://stlouis.sbnation.com/2011/8/23/2379143/st-louis-blues-recieve-multiple-bids-according-to-scp-worldwide

http://www.stltoday.com/sports/hockey/professional/morning-skate/article_69fd101a-ccf6-11e0-8730-0019bb30f31a.html

 

[LadyStanley]

Yesterday was the deadline, so makes some sense. Now to select "best".

From STLPD article

While today is the deadline for accepting bids, many observers of the process believe that Game Plan would take offers beyond today if the targeted selling price is reached. One source indicated that the deadline was installed to give "structure" to the process.
...
"We'll review (the offers), make judgments, make comparisons and then we'll go back to everyone and give them a reaction to their proposal," he said. "We don't want to slow down the process, but until we get these detailed proposals, it's hard to predict how long it will take to get a binding contract with a buyer. But we hope that we could get it done within a couple of weeks."

When the Blues find the bid they like, the club will enter a purchase agreement with the group. Then the deal will go to the NHL's Board of Governors for approval. The next BOG meeting is Sept. 20 in New York.

(Perhaps Dallas sellers are also pushing for something concrete to be decided at 9/20 meeting as well.)

 

[cbcwpg]

A take on Hulsizer's attempt to buy the Blues

http://thehockeywriters.com/blues-receive-multiple-bids-from-potential-buyers/

Chicago businessman Matthew Hulsizer, was not planning to submit an offer by the August 22nd deadline. Hulsizer still has an interest in owning the Blues but stated that he was not submitting an offer. He mentioned that if Checketts and his group weren’t satisfied with any of the offers they received that they could call him and he’d be open to negotiating.

Sounds like Hulsizer is taking the "Call me as a last resort so I can buy the team for no money" business plan again.

 

[sh724]

A take on Hulsizer's attempt to buy the Blues

http://thehockeywriters.com/blues-receive-multiple-bids-from-potential-buyers/

Chicago businessman Matthew Hulsizer, was not planning to submit an offer by the August 22nd deadline. Hulsizer still has an interest in owning the Blues but stated that he was not submitting an offer. He mentioned that if Checketts and his group weren’t satisfied with any of the offers they received that they could call him and he’d be open to negotiating.

Sounds like Hulsizer is taking the "Call me as a last resort so I can buy the team for no money" business plan again.

To me it sounds like he is trying to figure out the highest bid offered so he can offer a little more than that. If he put in an offer at the deadline he would have no idea what his competition is bidding and could end up offering way more than what someone else is offering. He is playing the guy at an auction that waits until the bidding slows and jumps in at the last minute to take the item. If he is really serious about buying the team it is a smart business move but a little unethical.

 

[DeathToAllButMetal]

To me it sounds like he is trying to figure out the highest bid offered so he can offer a little more than that. If he put in an offer at the deadline he would have no idea what his competition is bidding and could end up offering way more than what someone else is offering. He is playing the guy at an auction that waits until the bidding slows and jumps in at the last minute to take the item. If he is really serious about buying the team it is a smart business move but a little unethical.

To me, it sounds like Hulsizer is nothing but a dilettante who either doesn't have the cash to buy a club for anything near market value, or just enjoys the attention of these "bids." Also, this isn't an auction. A lot of negotiations need to take place. It's not just a flat fee being offered up and they take the highest bidder. Every offer will be different in ways well beyond the cash. So you really need to be in the game from the very beginning, if you're at all serious of landing the team.

 

[sh724]

To me, it sounds like Hulsizer is nothing but a dilettante who either doesn't have the cash to buy a club for anything near market value, or just enjoys the attention of these "bids." Also, this isn't an auction. A lot of negotiations need to take place. It's not just a flat fee being offered up and they take the highest bidder. Every offer will be different in ways well beyond the cash. So you really need to be in the game from the very beginning, if you're at all serious of landing the team.

Hulsizer said once the offers are in to tell him the highest offer so he can determine if he wants to pay more than that amount. If he was not willing to spend money than he would not even be talking about buying the team. If he had a said amount he wanted to spend then he would have offered a number lower than that so he could work his way up. The strategy he is using is to make sure he has the highest bid that shows he is serious about buying the team. It is an auction, its a silent auction and the winner gets to negotiate to buy the team first. Obviously whoever wins the bidding is not guaranteed to get the team but they have the best chance of getting the team.

 

[AdmiralsFan24]

I can only hope Cuban is one of them..

With a hard cap it doesn't really make much sense to have Cuban as an owner since his advantage would just be spending more than everyone else.

Plus, he would probably prefer to buy the Stars.