Monday, June 14, 2010
Source: Stars sale down to two potential buyers
A source confirmed to ESPN.com’s Pierre LeBrun that the sale of the Dallas Stars is down to two main potential buyers, Calgary oil mogul Bill Gallacher and Vancouver businessman Tom Gaglardi.
The Globe and Mail first reported the story.
The source also tells ESPN.com there is a third potential buyer considering making a bid for the NHL franchise.
The Globe and Mail reports, according to two sources, that a third group headed by former team president Jim Lites and Dallas businessman Billy Quinn -- with minority partner Mike Modano -- have dropped out of the negotiations.
Gallacher owns the Portland Winter Hawks of the Western Hockey League; Gaglardi is the majority partner of the Kamloops Blazers of the WHL.
Sources told the Globe and Mail that the sale price will be announced between $200 million and $240 million, depending on how the team’s debt under current owner Tom Hicks is handled.