SBD/November 10, 2010/Franchises

Stars Lenders Reportedly Considering Hiring Interim President

Stars Have Been Operating Without A President Since August
The group of lenders serving as owner of the Stars is "seriously considering naming an interim president to help guide the team," according to a source cited by Mike Heika of the DALLAS MORNING NEWS. A decision "could come by the end of the week," and the source said that the potential move "could be seen as a sign that the lenders are content to run the team for the remainder of the season." The Stars "have been operating without a president and have been run by" three Exec VPs since former President Jeff Cogen left the team in August. There has been "input from the executive committee of the lenders, as well as the NHL." Meanwhile, an NHL source said that "three people have been approved by the league to look at the Stars' books and study a possible offer to buy the team," though they "have not come close to meeting the price that would satisfy the lenders." A Stars source said that the team has been "running on the monies collected in the summer through ticket sales, advertising and television revenue, but those monies could run out in December." The Stars "have talked to the NHL about getting an advance on future money that is normally collected by teams after the season, but the lenders may have to be prepared to start covering potential losses" (DALLAS MORNING NEWS, 11/10). ESPN.com's Pierre LeBrun wrote it is "interesting that it's taken so long to find a buyer." LeBrun: "But this team will sell. It's a good market and a good purchase in my mind" (ESPN.com, 11/9).
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