He Shoots, He Scores: NHL Approves Sale Of Wild To Leipold

NHL Formally Approves Sale Of Wild To Group Headed By Craig Leipold

The NHL BOG Thursday approved former Predators Owner Craig Leipold's purchase of the Wild and its related entities. Additionally, Harbinger Capital Partners Senior Managing Dir Philip Falcone will serve as General Partner of the team (Wild). In Minneapolis, Kent Youngblood reports Leipold, who purchased the Wild from former Owner Bob Naegele for about $260M, will own 51% of the franchise. Leipold would not indicate how much of a stake Falcone owns, but "it is believed to be about 40[%]." Leipold denied reports that Falcone "would have the option to become the majority owner in five years." Naegele retained a minority partnership in the franchise. Leipold said that he "expects to be active in the community but will leave the hockey decisions to his front-office staff." Leipold wants to "promote the team and keep it on the path Naegele ... put it on." Leipold: "This organization is well-prepared and well-positioned for the future. And I really do believe in the saying ... if it ain't broke, don't fix it. This is not a broken franchise" (Minneapolis STAR TRIBUNE, 4/11). Leipold: "It's the marquee NHL franchise" (ST. PAUL PIONEER PRESS, 4/11).