Thursday, August 11, 2011
Tom Gaglardi talks Dallas Stars sale
By Mark Stepneski
Vancouver businessman Tom Gaglardi, who is trying to buy the Dallas Stars, appeared on a Kamloops, British Columbia Radio station today and talked about his bid to buy the club.
Gaglardi is currently trying to finalize an offer for the Stars which would serve as a stalking horse bid. That would be a first step in the process, which would include a trip through bankruptcy court and other suitors getting a chance to top Gaglardi’s bid.
Here are Gaglardi’s comments about the sale from his interview on CHNL 610 AM in Kamloops.
On his efforts to buy the Dallas Stars
“That’s a work in progress. It’s been going for well over a year. It’s a team that I have great interest in and hopefully close to concluding the agreement to acquire the team. But still it will be subject to a long, lengthy court process given the history of the Stars and Rangers credit facilities. Although we might get something done here quickly, it is still a few months away in terms of where we know where this thing lands and who ends up owning the club.”
When asked if his deal would include the club, taking over some debt and a half interest in the American Airlines Center
“My mother is from there, so I have half my family living in the Dallas/Fort Worth area. I used to go there every summer to visit grandparents and aunts and uncles until I got too old to keep doing that. There’s a huge familiarity with me being in that marketplace. Other than most of the Canadian teams and some original six teams, Dallas, to me, would be in the top six teams personally for me to be involved with. It’s now the fourth largest market in America. Huge growth potential and the most valuable franchise in the world in headquartered there, the Dallas Cowboys. I think it is a marvelous opportunity in a market that is second to none, and a market that used to lead the NHL in revenue. “
When asked when it will be known if something falls together for him
“I would think two to four months is the window to get through a court process and those things. That would be the time frame we are looking at.”