Lauries End Exclusive Talks With Appleby On Sale Of Blues

Blues Co-Owners Re-Open Talks For Team, Savvis Center Lease

Blues co-Owners Bill and Nancy Laurie have “decided to end their exclusive negotiations” with General Sports & Entertainment CEO Andy Appleby on the purchase of the team and the Savvis Center lease, according to a source cited by Jeremy Rutherford of the ST. LOUIS POST-DISPATCH. Appleby’s window of exclusivity expired yesterday, though it is “believed that Appleby still has interest in purchasing” the Blues. Blues President Mark Sauer said, “Our investment bankers will reopen discussions with a handful of different parties.” Rutherford notes this marks the second time since the team and lease were put up for sale in June “that a prospective buyer has received a letter of intent and had it expire without a deal.” MLS Real Salt Lake Owner Dave Checketts signed a letter of intent in September, but that expired November 14 without a deal. Sources said that Checketts’ Sports Capital Partners “lacked the necessary investors to complete the deal.” Sources said that Checketts and MatlinPatterson Global Advisors CEO David Matlin “remain interested” in purchasing the team (ST. LOUIS POST-DISPATCH, 1/11).

TRENDING UPWARD: BLOOMBERG NEWS’ Curtis Eichelberger examines the increase in NHL franchise values since the lockout was settled. Societe Generale Managing Dir Randy Campbell said that the Mighty Ducks, for which Henry Samueli paid $75M last year, are now worth “only slightly less” than the $130-150M value of the Blues. CIT Group Managing Dir Gordon Saint-Denis added, “I know of one franchise that was recently offered a 60[%] premium over its pre-lockout valuation, and I’m working with several investors who are sniffing around for an opportunity.” NHL Commissioner Gary Bettman indicated that he “turned down a $250[M] offer for an expansion team soon after” the new CBA was signed. Kings President Tim Leiweke said his team is worth “at least 50[%] more than when the labor deal was finalized,” and Predators Owner Craig Leopold believes that the CBA “should account for a [40-50%] increase in valuations immediately, then level off to 8[%] annual gains in future seasons” (BLOOMBERG NEWS, 1/11).