Thursday, February 11, 2010
Modano seeks to join Cuban in venture
By Richard Durrett
DALLAS -- Mike Modano said Thursday that he has interest in becoming a minority owner in the Dallas Stars.
"I'd like to be involved with anyone interested in buying," Modano said via text from Calgary on Thursday, where the Stars are preparing to face the Flames.
Modano introduced Mavericks owner Mark Cuban to a prospective ownership group and Cuban has said he is interested in becoming a minority owner in the club. That would give him greater control of American Airlines Center, which would be part of any deal. Hicks Sports Group has hired an investment adviser to look at the possibility of selling majority stake in the Stars, which would include 50 percent of the AAC.
Modano, 39, said he's interested in becoming an owner because he'd like to keep hockey interest in Dallas at a high level. He's played his entire career in the Stars organization since he was drafted first overall in the 1988 draft. He then moved with the organization from Minnesota to Dallas in 1993 and has been the face of the franchise. Modano is the highest-scoring American player in NHL history, has played in seven All-Star games and hoisted the Stanley Cup in 1999.
Cuban expressed his interest to ESPN 103.3 FM's Galloway & Company on Wednesday.
"I'm not looking to outright buy the team," Cuban said. "I have talked to somebody who is interested in buying the team and I told them I would try to help them get a deal done. From my end, I like hockey, I'm a fan, but I'm not a hockey guy. l'm not going to lie and pretend I can come in and bring the energy that I try to bring to the Mavs.
"But because they are a partner in the American Airlines Center, they are going to be a business partner no matter what. If I can help facilitate the right deal and a deal that is going to help the AAC, or help get what I think is a good deal done, I will."
Tom Hicks said earlier this week that HSG would like to have the situation with the Stars completed by the end of the summer, in time for next season. HSG defaulted on $525 million in loans last March and is in the process of selling the Rangers to a group headed by Pittsburgh attorney Chuck Greenberg and Rangers president Nolan Ryan. Once that sale is completed, they'll turn their attention to the Stars in hopes of paying down the debts.
Richard Durrett covers the Stars for ESPN Dallas. You can follow him on Twitter or leave a question for his weekly mailbag.