SBD/August 10, 2011/Franchises

Prospective Blues Buyers Have Until Aug. 22 To Submit Non-binding Bids

Blues purchase agreement could be in place by mid-September
Prospective buyers of the Blues have until Aug. 22 to "present a nonbinding bid" to Game Plan LLC, a step that "could have a purchase agreement in place by mid-September," according to Jeremy Rutherford of the ST. LOUIS POST-DISPATCH. Game Plan, the firm hired by Blues Chair Dave Checketts to conduct the sale of the team, recently "sent out letters to 10 'interested parties' requesting offers" for the Blues, the Scottrade Center lease, the AHL Peoria Rivermen and the Peabody Opera House. Rutherford notes the fact that 10 groups received the letters "doesn't mean there are 10 groups that have serious interest in buying the Blues." It "simply means those groups have had dialogue with Game Plan at some point in the process." A group led by Blues Minority Owner Tom Stillman "remains in the mix," and a source said that Chicago businessman Matthew Hulsizer "is still involved." Game Plan Founder & Chair Robert Caporale yesterday said that two groups that are attempting to purchase the Stars are "planning to 'move quickly on the Blues' if they are unsuccessful in landing Dallas." Rutherford notes "quick completion of the Dallas deal also could help define the market price for the Blues." Observers have estimated that the Stars "could be sold for as much as $230 million." Caporale believes that the Blues "could fetch $200 million" if the Dallas estimate is correct. Caporale maintains that a sale is "possible before the Blues' season opener" Oct. 8 against the Predators (ST. LOUIS POST-DISPATCH, 8/10).

DESERT DISH: Coyotes COO Mike Nealy on Monday said that two parties "have been communicating" with the NHL and Glendale since Hulsizer in June pulled his bid to purchase the team. Nealy said that the "latest hopefuls aren't new to the sporting world, but they don't want their names out there as they work out details" (AZCENTRAL.com, 8/8).
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