Dallas Stars: Tom Gaglardi

Q&A with Tom Gaglardi

April, 8, 2012
4/08/12
10:42
PM CT
Here’s a brief question and answer with Stars owner Tom Gaglardi on the team’s season.

Thoughts on the season

“You have ups and downs and right now it is a down. I think to properly comment on it you need to take some time because the highs are too high and the lows are too low. Seven or ten days ago, we were really proud of what the guys had done in terms of we were the second hottest team in the league since the All-Star break. We put ourselves from kind of out of it into being in it, and feeling like we’re pretty certain we’re going to be in the playoffs. Then a stretch of games where we lost our mojo, kind of forgot how to win. For the most part, even with the rough ending, most of the guys worked pretty hard and tried hard, but the X-factor wasn’t there as far as figuring out how to win games. A lot of that could be the power play, I don’t know. It’s disappointing. I think we’re as good or better than teams that are in the playoffs, so it is a tough pill to swallow.”

On making decisions moving forward

“I’ve been owner half a season, so this is a new experience. I’ve been involved in the mini-NHL in terms of the Western Hockey League; you just can’t make big decisions right now. Everybody is disappointed. To properly reflect on it the best thing I can do is go away and find a beach for a couple of weeks. We can all do that and then make proper, pragmatic and sound decisions on where we’re going.

“The rhetoric hasn’t changed. We have a pretty good idea of where we’re at as far as the competition, and we know we need to get better. This is a short-term setback for us. It would have been nice to get some guys some experience in the playoffs and that’s the most disappointing thing, but that doesn’t change where we were a month, two weeks ago or anything. We’ve got to get better and we’ll continue to do that.”

Do you expect to be active in free agency?

Yes.

On what he sees as the team’s needs

“I don’t see a position that we don’t need to get better at. We need more scoring depth, clearly. Secondary scoring wasn’t there when we needed it. Our top line carried us there for a while, but once it stopped we weren’t able to muster up enough offense.

I think we’ve got to look at our power play, finished last in the league and broke a record for fewest goals as a franchise on the power play. That’s a real concern. A lot of the power play starts at the backend.

“I love our goalie. We’ve got good depth there with the kid that came up, (Richard) Bachman. I think he did a marvelous job this year. There’s also Jack Campbell in Texas, so we’re in solid shape there and these guys are all on contract, so we don’t have to worry about that position.

“But I think we have to look at everything – our scoring lines, our power play and our defense. We want to get better. I don’t think it is any one thing. We’ve got to be a deeper team. I don’t think anything has changed. We were saying that at the deadline, we’ve been saying that ever since I’ve been here.”

On the attendance over the final part of the season

“I think what we accomplished attendance-wise was beyond my expectations for sure. That’s why it’s a sad day. In any hockey organization the worst day of the season is when you realize you are not in the postseason. That’s what we are going through since (Thursday night) and to some extent after the San Jose game (on Tuesday). That was really our opportunity. It’s really a sad week.

But the leadership group upstairs – the nice thing is you walk in and Jim Lites and the guys are pumped and jacked because you can feel the momentum about changing the organization overall. Attendance is part of that, and we have a lot of great things happening. That’s what happens when you put together a great team of people, because management is everything. Management is underrated, it is everything. With good management will come success both on and off the ice. We’ll be doing that. But it feels good attendance-wise. It’s a nice surprise.

And in terms of the playoffs, the nature of the Western Conference is that we can say that our fans didn’t see playoff hockey this year, but the last 20 games we’re playoff hockey. Anyone who was at the San Jose game Tuesday night can’t say that wasn’t a playoff environment. The last 20 games have been like that. There’s no more gravity for a playoff game than what we faced the last several games and we got the fan base emotionally attached for a desperate attempt at the playoffs. We fell short, but at least we we’re in it. I guess this season we have one somewhat meaningless home game, and that’s not the end of the world. It is what it is and we’ll move on.”
Here’s a quote from Stars Tom Gaglardi on what he sees as the team’s needs as the Dallas Stars prepare to head off into the offseason.
“I don’t see a position that we don’t need to get better at. We need more scoring depth, clearly. Secondary scoring wasn’t there when we needed it. Our top line carried us there for a while, but once it stopped we weren’t able to muster up enough offense.

“I think we’ve got to look at our power play, finished last in the league and broke a record for fewest goals as a franchise on the power play. That’s a real concern. A lot of the power play starts at the backend.

“I love our goalie. We’ve got good depth there with the kid that came up, (Richard) Bachman. I think he did a marvelous job this year. There’s also Jack Campbell in Texas, so we’re in solid shape there and these guys are all on contract, so we don’t have to worry about that position.

“But I think we have to look at everything – our scoring lines, our power play and our defense. We want to get better. I don’t think it is any one thing. We’ve got to be a deeper team. I don’t think anything has changed. We were saying that at the deadline, we’ve been saying that ever since I’ve been here.”

Gaglardi: 'A tough pill to swallow'

April, 6, 2012
4/06/12
11:11
PM CT
Here’s a quote from Stars owner Tom Gaglardi on the team’s season, mostly on the end and missing the playoffs. Gaglardi was in Frisco on Friday as the Stars held their final practice of the season.
“You have ups and downs and right now it is a down. I think to properly comment on it you need to take some time because the highs are too high and the lows are too low. Seven or ten days ago, we were really proud of what the guys had done in terms of we were the second hottest team in the league since the All-Star break. We put ourselves from kind of out of it into being in it, and feeling like we’re pretty certain we’re going to be in the playoffs. Then a stretch of games where we lost our mojo, kind of forgot how to win. For the most part, even with the rough ending, most of the guys worked pretty hard and tried hard, but the X-factor wasn’t there as far as figuring out how to win games. A lot of that could be the power play, I don’t know. It’s disappointing. I think we’re as good or better than teams that are in the playoffs, so it is a tough pill to swallow.”

Tom Gaglardi's big hit

February, 29, 2012
2/29/12
2:37
PM CT
Dallas Stars owner Tom Gaglardi was making the media rounds in the area earlier this week, pumping up the team and the sport. D Magazine's FrontBurner blog ran this little video item on Gaglardi, which shows him as a man more interested in action than talk. The victim here is D Magazine editor Tim Rogers.

Q & A with Stars owner Tom Gaglardi

February, 11, 2012
2/11/12
11:43
PM CT
Here are some excerpts from a recent interview with Dallas Stars owner Tom Gaglardi, who shared his thoughts on the team and the upcoming trade deadline.

On his assessment of the team’s play so far this season (Note: interview was done day after the Phoenix game and prior to the back-to-back games with Columbus and Buffalo)

“We’re inconsistent. I think we have a playoff caliber team. I think we’ve proven that through different stages of the year. Clearly, there are some hallmarks of a young team with the inconsistency. We’ve had some puzzling nights, but mostly we work hard. It’s not a team that I would say I am regularly upset about being outworked. I can’t stand being outworked. I think we all know the caliber of our roster vis--vis the other clubs, and where we sit. The thing we can’t accept is being outworked. But that’s not something that has troubled me a lot this season.

And our back-to-back record has been woeful. That’s something that has got to stop. We’ve played in some tough buildings against some tough teams, but I am getting tired of the excuse there.”

On the importance of making the playoffs this season

“I think it is pretty important. I think it is important in terms of building your season ticket base. I don’t think it’s as important as the media has written because, in the long term, we want to be a competitive team for the longer term more than we necessarily care about this year.

“If we make moves at the deadline and if we make moves in the summer, they are more likely moves about being better longer than being better now. Having said that, we’re not going to do a deal that makes us worse now. I don’t see that happening because Joe (Nieuwendyk) still thinks we can make the playoffs, and we don’t want to jeopardize that.

“It is important to make the playoffs, but if we are going to look to improve our team then it won’t be something that makes us less competitive the next three to five years. There’s a balance there, I think.

“We’ve got some nice pieces in place with Jamie Benn, Loui Eriksson, Alex Goligoski, Trevor Daley – we’ve got five, six or seven pieces that teams would like to have. I think if we can build around that then that is probably we’re going to try to do.”

On how much where the Stars are in the standings will dictate what happens at the deadline

“We have a lot of games in February. We’re going to have a clearer picture, or not, by the deadline of where we are in the standings. We still might be in the same spot, we might be in better shape or we might be in worse shape. I honestly don’t think that is going to change a whole lot with what we are going to do. It might a little bit, but we’re not a franchise that is going to trade its best older player for three first round draft picks. I don’t see us doing that deal.

“We want to get better for the longer term and not just for the shorter blip. I think that might take the Stars out of the running for certain players you might see available at the trade deadline, those older guys. We think there are things we can do and there are players that we have identified that would fit what we want. “

Could those things cost a lot?

“They might. I don’t know. We’ll see. The theme, as I see it, is we want to get deeper where we are weak, but not at the expense of where we are today. And I think there are things that we can do. There are transactions that may or may not be available to accomplish that. I think if you ask Joe, he’ll tell you the same thing.”

On what he sees as the team’s needs

“We have quite a bit of depth at defense. The Hockey News had us in the middle of the league (ranked 15th recently). I think we’re a bit better than that. We lack that big No. 1 guy, but then so do a lot of teams. You get into that No. 2 and No. 3 three spot with (Alex) Goligoski and (Trevor) Daley – those are the guys you’d have at No. 2 and No.3 – and those are pretty good players.

“I like our D, we’ve got a lot of depth. Some of the guys that haven’t been playing regularly would be playing regularly on other teams, I think. And it’s nice to see guys like (Philip) Larsen step up and grab a pretty regular spot. I don’t think anybody saw that coming at the beginning of the year.

“Would we like to have a Zdeno Chara or a Nick Lidstrom? Yeah, but so would 20-odd other teams. But I think we’re in pretty good shape there.

“On the farm we’ve got some kids coming with (Patrik) Nemeth and (Jamie) Oleksiak and guys we think can play. We’re in pretty good shape there.

“I think we struggle on offense. A lot of times we don’t score enough goals. And our power play has been awfully inconsistent as well. I think our role players, we’re in pretty good shape there. As a glaring weakness on our team, in my mind, it’s top six. We’re young and we’re not deep enough.”
Dallas Stars owner Tom Gaglardi said the NHL's new four conference realignment is a big victory for his club.

"I'm not sure we're not the biggest winner in the whole league," Gaglardi said in a phone interview. "I feel pretty wonderful. It's something I've chased ever since I started to chase ownership of the Stars. It's a great day for Dallas."

The Stars, who have played in the Pacific Division with Anaheim, Los Angeles, San Jose and Phoenix since 1998, will now play in a more time zone friendly conference with Chicago, Columbus, Detroit, Minnesota, Nashville, St. Louis and Winnipeg.

"For our players it's going to be less travel. We're not going to get stuck on the West Coast where we can't get home from games as often," Gaglardi said. "We're going to play in a conference where everyone is in our own time zone, except for Detroit and Columbus which are an hour ahead of us. That's much more palatable than the alternative. We'd rather play an hour early than two hours late."

The Stars will benefit from having road games start and end at a more reasonable time as far as television, an important part of selling the team to fans.

"If you want to watch us on the road, with three of the four divisional teams those games don't end until midnight," said Gaglardi. "We are going to minimize that number now."

The new format also calls for a more balanced schedule. The Stars will play 38 games within their conference and a home-and-home series against the other 22 teams in the league.

"I think the fans win because you are going to have every team in every building every year," Gaglardi said. "I think that is worth a lot."

That means Original Six teams from the East like Boston, Toronto, Montreal and the New York Rangers will visit Dallas every year. The Stars also have two Original Six teams - Detroit and Chicago - in their conference, which is a big boost as well. The league's big name players will be in the building every year, so next season players like Sidney Crosby and Alex Ovechkin will be scheduled to play at the AAC. All of that selling points to get people buying tickets.

"I talked to other owners that are here and they feel the same way, every team in their building is great for the league," Gaglardi said. "It will mean a little more travel for a lot of teams. That was the negative with what happened today. But I think it is the right thing to do."

And Gaglardi said the realignment plan that shifts the Stars to a more time zone friendly setting was the right thing to do as well.

“It’s the right decision for the league, in my opinion. I’m happy were a team that benefits as much as anyone,” he said. “It’s a great day for the Dallas Stars, and it rights an inequity that’s existed for far too long. I can’t tell you how thrilled I am.”
DALLAS – Before he was formally introduced at a press conference Monday afternoon, new Dallas Stars owner Tom Gaglardi introduced himself to the team prior to its morning skate at the American Airlines Center.

The players had heard the name, and Monday morning they got to meet the man in person.

“You get to put a face to the name,” said Stars defenseman Nicklas Grossman. “You wonder how he’s going to be and then he walks in there and he’s a nice guy with a passion for the game. It was good, positive. We’re excited to have him.”

Stars coach Glen Gulutzan said Gaglardi’s arrival is a big positive for the Stars, who have needed a definitive authority at the top of the organizational chart.

“It’s very positive. We’ve had Joe (Nieuwendyk) that’s led us, but Joe’s had a lot of questions he can’t answer. Now we have somebody that can actually answer every question that the organization may have,” Gulutzan said. “And you listen to Tom and Jim (Lites) speak to players before we came out on the ice and the air was nice and clear. I think it picked everybody up a little bit and now as you move forward you feel like a complete group.

"I know lots of people who know Tom from back in the Western Hockey League and they speak volumes of him. He’s a great guy, a hockey guy that likes to win. I think it’s going to be real good that we have a face to our franchise.”
Here are some quotes from new Dallas Stars owner Tom Gaglardi on a variety of topics, including his philosophy on spending, being involved in personnel decisions, bringing Mike Modano into the organization and his love of the Dallas Cowboys.

On his optimism about where the Stars are as he takes over

“The great thing about Dallas is this isn’t a rebuild. We’ve got fabulous pieces in place here. Some of our best great players are young. We’ve got so much flexibility going forward with where we sit in payroll. I know that I’ve talked with enough people around the NHL who have said that most teams would love to be in our position with where we sit today.”

On his philosophy on spending money on players

“I learned in the Western Hockey League that they only way you win is you build from within. You build, draft, develop and coach. That’s the philosophy I come with. I think there have been enough cases around the NHL to know that you cannot buy a winner, so I believe in the old fashioned way of building teams. Having said that, we’re here to win. This isn’t about anything other than becoming a great team and pursuing championships. If Joe (Nieuwendyk) and his staff think that is something we can do in terms of stepping up and doing more in that regard, then we’re going to do it.”

On being involved in personnel decisions

“If any owner tells you he doesn’t want to be involved in a conversation about who your personnel are, I think they are lying to you. I am not going to make those decisions. I hope that I have an opportunity to have a seat at the table when we discuss people and I’ll have a chance to impart what I know of them. In some cases I know that we have players in the organization that were drafted that I know very well. I watched them play four years of junior in the Western Hockey League. I just want to have a say, and I know I’ll get that. At the end of the day it’s Joe’s team and Joe is going to make those decisions. That’s what general managers do and that’s what I’ll expect him to do.”

On bringing former Dallas Star Mike Modano into the organization

“The guy is the most important player I think to ever have worn a Stars jersey. In my opinion, he’s the best American-born hockey player to ever play in the NHL. I’ve gotten to know Mike in the last little while and enjoyed my time with him. I’ve expressed an interest that I’d like to have him involved in some capacity with the Dallas Stars and Mike has expressed the same thing to me, and more recently to Jim Lites. Those are discussions I expect to have with Mike to figure out what he wants to do and where he might be able to fit. It’s my intention to include Mike Modano with the Dallas Stars organization.”

On his experience as owner of the Kamloops Blazers of the Western Hockey League

“I’ve learned so much the last four years. I’m fortunate to be partnered with four pretty successful NHL players (Shane Doan, Jarome Iginla, Mark Recchi and Darryl Sydor). I spent plenty of time with those guys, getting to know them, how they’re wired and what made them what they are. They attribute so much of what they are to what they experienced in Kamloops because they all four played for the Blazers and they’ve gone on to be fantastic NHLers. I’ve learned so much, and I come here with some knowledge. I’ve got lots to learn, I’m a good listener and I drive people nuts asking questions. That’s not going to end anytime soon.”

On being a Dallas Cowboys fan

“Absolute fanatic. If you go to my closet at home, most of my casual clothes – t-shirts and sweats I wear around the house – are Dallas Cowboys stuff. I’ve been crazy for the team ever since I can remember. I got that from my dad. He went to college here and brought the Cowboy love back and I was raised in it.”

Lites: Gaglardi 'committed, a hockey guy'

November, 18, 2011
11/18/11
4:12
PM CT
Dallas Stars president Jim Lites says that the team’s new owner, Tom Gaglardi, will bring commitment and a passion for hockey.

The Vancouver businessman officially became the team’s owner today after getting approval from a bankruptcy court in Delaware and closing the sale.

“Committed, really committed,” Lites said of Gaglardi Friday afternoon. “He is a true hockey guy. Everybody is different, but he is more like (Detroit Red Wings owner) Mike Ilitch to me than any other owner I’ve worked with, and that includes (New York Giants owner) John Mara.”

Lites is returning to the post of Stars president, a job he held from 1993 to 2007, except for a brief period in 2002 when was the president and CEO of the Phoenix Coyotes. Since leaving the Stars, he’s worked for Hicks Sports Marketing Group, the New York Giants of the NFL and a tech company in Calgary.

The talks with Gaglardi about rejoining the Stars began on opening night of the hockey season and wrapped up just a few weeks ago.

“It was pretty rocky,” Lites said of the first meeting with Gaglardi. “He was pretty rough on me, as he should. I remember telling my wife that we shouldn’t quit our day jobs. But the feedback was really good and I spent a lot of hours communicating with Tom via text and email, and then he brought me to Vancouver two or three weeks ago and we spent a couple days together.”

Lites said said the 43-year-old Gaglardi’s business background will serve him well as the owner of an NHL franchise.

“He’s self-made. He made his money in the hospitality industry, much like Mr. Ilitch had,” Lites said. “The hotel business and the restaurant business is more like what we do. You are taking care of customers all the time. That’s his background.”

And another plus is Gaglardi’s passion for the game. He’s a life-long hockey fan and is part of the leadership group of the Kamloops Blazers of the Western Hockey League.

“He is a true hockey guy in the sense that he loves the sport, understands it, knows who the general managers are through the entire league and knows who everybody has drafted,” Lites said. “He’s a student of other franchises and he’s owned a junior team at the highest level. He will tell you that he’s made mistakes in that business and learned from them.”

Lites said there is a lot of work to do quickly on rebuilding the business side of the franchise. A lot of key players on that side of the equation have left – Jeff Cogen, Geoff Moore, Colin Faulkner to name a few.

Attendance at the games, which has lagged this season, is a big issue. Getting people in seats at American Airlines Center is a priority. Lites also said there is an adjustment for ticket prices in the works.

As far as what is happening on the ice, things seem to be going pretty well under GM Joe Nieuwendyk.

“On the hockey side of the business, Joe has done a fabulous job and Tom appreciates it,” Lites said. “I am sure there will be no changes on what the hockey team is doing. They are doing a great job.”

Dallas Stars announce Gaglardi as new owner

November, 18, 2011
11/18/11
3:53
PM CT
The Dallas Stars have made the announcement that Vancouver businessman Tom Gaglardi is the team's new owner. Here is the release from the Stars:
Tom Gagliardi, President of Northland Properties Corporation, today purchased the National Hockey League Dallas Stars. The new owner will be introduced Monday at a news conference at American Airlines Center.

Gaglardi (pronounced guh-lar-dee) announced that he has named Jim Lites as the President and CEO of the Dallas Stars. Gaglardi said he believes that Lites will give a huge jump-start to the team as it works to recharge the Dallas Stars and fan experience.

“Jim Lites is the right guy at the right time to reposition and lead the franchise forward,” said Gaglardi. “I like his vision, resilience, marketing expertise and his total energy for this job,” said Gaglardi, “and he and I share a huge love of this game. “

The 43-year-old Gaglardi is the President of Northland Properties Corporation, the largest family-owned hospitality company in Canada. He has played hockey since he was five years old, and, in fact, he continues to play hockey on a Canadian competitive team. Gaglardi has noteworthy Texas roots; his mother is a Longview native, and he has “serious UT relatives” who live west of Fort Worth.

“I know the fans and the organization are relieved that this period of uncertainty is over,” said Gaglardi. “The team has established a solid foundation, and I am looking forward to working with Jim Lites and Joe Nieuwendyk, who I have always admired and think is doing a superb job, to reignite fan enthusiasm for this club.”

Lites, 58, is very familiar with his position having held it twice previously. Lites returns to the Stars with a reputation as one the finest administrators in professional sports. Over the course of his two prior stints with the Stars (1993-2002; 2003-2007), the team won seven Division Championships, two Western Conference Championships, two Presidents’ Trophies, and the 1999 Stanley Cup. Lites also served 11 years as COO of the Detroit Red Wings from 1982-1993. Since 2007, he managed the New York Football Giants’ Personal Seat license program at its new stadium in East Rutherford, New Jersey. In addition, he has been a consultant to Worldplay Networks, a highly successful technology company in Calgary.

It's official: Stars sold to Gaglardi

November, 18, 2011
11/18/11
9:57
AM CT
The Dallas Stars officially have a new owner. A bankruptcy court in Delaware on Friday approved the sale of the team to Vancouver businessman Tom Gaglardi and confirmed the Stars’ prepackaged bankruptcy plan.

The NHL Board of Governors approved Gaglardi earlier this week by a fax vote, and the sale closed Friday afternoon.

Today’s events bring to a close a tough chapter in Stars’ history that began when Hicks Sports Group ran into hard financial times, 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 the President of Northland Properties Corporation, which he and his family run. The company owns and operates hotels and restaurants Canada and employs more than 10,000 people.

Gaglardi leads the ownership group of the Kamloops Blazers of the Western Hockey League. The ownership group includes Shane Doan, Mark Recchi, Jarome Iginla and Darryl Sydor.

Gaglardi, a life-long hockey fan, has strong Texas ties. His mother is from Longview and he has family in the Dallas-Fort Worth area.

He’ll take over a team that, according to court documents, lost $37.9 million in the last fiscal year and $91.5 million over the last three seasons. The Stars are expected to lose $31 million this season.

Court documents state that Gaglardi is “committed to keeping the Stars in Dallas and rebuilding the franchise both in terms of on-ice success and the fan experience.”

Gaglardi, whose bid for the team has been estimated at $265 million, has hired former Stars president Jim Lites to return as the team’s president. That’s a job Lites held from 1993 to 2007, except for a brief period in 2002 when he was the president and CEO of the Phoenix Coyotes.

Gaglardi will be introduced at a news conference in Dallas on Monday. He will drop the puck at the Stars-Oilers game on Monday night.
It looks like new ownership will bring back a familiar face to the Dallas Stars front office.

Multiple sources confirm that former Stars president Jim Lites will return as the team’s president when Vancouver businessman Tom Gaglardi takes over as the team’s new owner.

Lites served as Stars president from 1993 to 2007, except for a short period in 2002 when he was president and CEO of the Phoenix Coyotes.

Gaglardi could be announced as the team’s new owner as early as Friday. A court hearing is scheduled for Friday morning in Delaware, where a judge is expected to approve the sale of the team to Gaglardi and approve the club’s prepackaged bankruptcy plan.

Meanwhile, another part of the process is complete. A source confirmed Wednesday evening that the NHL's Board of Governors already has voted to approve Gaglardi as the new owner of the Stars. The vote was done via fax, and that requires a unanimous vote.

Gaglardi is the President of Northland Properties Corporation, which he and his family run. The company owns and operates hotels and restaurants throughout Canada.

Gaglardi also leads the ownership group of the Kamloops Blazers of the Western Hockey League. The ownership group includes Shane Doan, Mark Recchi, Jarome Iginla and Darryl Sydor.

The Stars are expected to formally introduce Gaglardi at a press conference early next week, possibly on Monday.

No other bidders for Stars

October, 24, 2011
10/24/11
12:34
PM CT
No bids for the Dallas Stars were filed by this past weekend’s deadline, which now clears the way for stalking horse bidder Tom Gaglardi of Vancouver to complete the purchase of the Stars.

The next step in the process is a November 23 hearing in a Delaware bankruptcy court, where the court will consider “approval of the Sale, and confirmation of the Debtors’ Prepackaged Plan and any objections thereto and to consider any other matter that may properly come before the Bankruptcy Court.”

Approval of the NHL Board of Governors and closing of the sale also are needed for the deal to be finalized.

NHL Deputy Commissioner Bill Daly issued a statement on the Stars sale Monday.

"Now that the bidding deadline has been reached, we will continue our due diligence process and will proceed with the Board's ownership transaction review process," Daly said. "We also will work with the courts in the continued hope of bringing this matter to a successful and expeditious resolution."

Gaglardi is the President of Northland Properties Corporation, which he and his family run. The company owns and operates Sandman Hotels, Inns and Suites, Denny’s Restaurants of Canada, Moxie’s Restaurants, Shark Clubs and . Northland owns 45 hotels with 6,400 rooms, owns more than 100 restaurants, and employs more than 10,000 employees.

Gaglardi leads the ownership group of the Kamloops Blazers of the Western Hockey League. The ownership group includes Shane Doan, Mark Recchi, Jarome Iginla and Darryl Sydor.

Gaglardi, a life-long hockey fan, has strong Texas ties. His mother is from Longview and he has family in the Dallas-Fort Worth area.

He’ll take over a team that, according to court documents, lost $37.9 million in the last fiscal year and $91.5 million over the last three seasons. The Stars are expected to lose $31 million this season.

Court documents state that Gaglardi is “committed to keeping the Stars in Dallas and rebuilding the franchise both in terms of on-ice success and the fan experience.”

Court approves bidding procedures for Stars

September, 22, 2011
9/22/11
5:18
PM CT
A bankruptcy court in Delaware today approved bidding procedures concerning the sale of the Dallas Stars.

Bids are due 30 days from today. An auction would be held November 21 in Dallas and according to court documents, a confirmation hearing to approve the sale to the winning bidder has been scheduled for November 23.

Vancouver businessman Tom Gaglardi has reached an agreement to buy the Stars, but his offer is subject to competing bids through the bankruptcy process.

Lawyers for former Texas Rangers CEO Chuck Greenberg, who has expressed an interest in bidding for the Stars, were in court for today’s hearing in Delaware.

Stars release on sale, bankruptcy

September, 15, 2011
9/15/11
6:00
PM CT
Here's the Dallas Stars release on the proposed sale to Vancouver businessman Tom Gaglardi and today's bankruptcy filing in Delaware.
The current owner of the Dallas Stars National Hockey League Club, Dallas Stars, L.P., announced today that it and certain of its affiliates have signed an agreement to sell the Stars and all hockey-related assets to entities owned by Vancouver businessman Tom Gaglardi and his family, subject to a court approved auction and NHL approval.

To facilitate the sale, Dallas Stars, L.P. has commenced a voluntary chapter 11 bankruptcy case in the United States Bankruptcy Court for the District of Delaware in Wilmington, including the filing of a “prepackaged” chapter 11 plan. The chapter 11 process has the support of the National Hockey League and the Dallas Stars’ lenders, who voted to accept the prepackaged plan prior to filing. The prepackaged plan provides for a court-supervised auction of the Dallas Stars Club and other hockey-related assets. The purpose of the sale is to allow for a smooth transition in ownership, while ensuring that the Dallas Stars continue to play at the American Airlines Center in Dallas. The Plan provides that the Dallas Stars will pay and perform all of its obligations to its fans, players, employees, and vendors.

The Dallas Stars Club is unequivocally committed to remaining in Dallas and playing its home games at the American Airlines Center. To that end, no bid submitted will be considered that contemplates moving the team from the American Airlines Center in Dallas.

The auction process and sale are subject to Bankruptcy Court and National Hockey League Board of Governors approvals.

The prepackaged plan is the result of negotiations involving input from the National Hockey League and certain of the Club’s senior secured lenders. Because the plan has already garnered substantial support from the Club’s lenders, the Club expects to move through the legal process expeditiously and has requested that the Court hold a hearing in 60-75 days to confirm the plan and proposed sale, allowing the Stars to exit bankruptcy and complete the sale of the franchise by the end of November.

“This is a significant step toward completing the transition in ownership,” said Stars President Tony Tavares. “We are pleased that our lenders have shown substantial support for the plan and the sale process, but the Dallas Stars are focused on one thing: hockey. The players and coaches begin Training Camp on Friday and we are all excited to start the new season.”

The Dallas Stars believe that the legal process will not have an impact on Dallas Stars hockey or its business operations—it is business as usual for the Dallas Stars. The Club has obtained permission from its lenders to use its available cash on hand to fund operations while in chapter 11, and believes this amount is sufficient for such purposes until the sale is finalized.

The Club filed customary motions seeking to ensure that:
  • The Stars will be able to operate within their existing budget to sign and acquire amateur, international and professional players;
  • Purchased tickets will continue to be honored;
  • The fan experience at the American Airlines Center will be unchanged, with all current amenities and promotions continuing as usual;
  • All salaries will be timely paid; and
  • Stars vendors and suppliers will be fully paid in the ordinary course of business.

The Dallas Stars expect to present all of the customary motions for approval by the Bankruptcy Court at a hearing to be held in Wilmington Monday.

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