SBD/October 6, 2011/NHL Season Preview

Matthew Hulsizer Reportedly Has Reached A Verbal Deal To Purchase Blues

Hulsizer had previously been interested in purchasing the Coyotes
Blues Chair Dave Checketts has a "verbal agreement to sell a majority stake in the Blues to Chicago businessman Matthew Hulsizer in a deal in which Checketts would remain with the club in some capacity," according to sources cited by Jeremy Rutherford of the ST. LOUIS POST-DISPATCH. Two sources said that Checketts has "signed a letter of intent with Hulsizer, although one source indicated that it's a verbal agreement and is far from being completed." The deal is "not considered binding and would not become official until the two sides enter a purchase agreement and it's approved" by the NHL. Rutherford notes there "continues to be some pressure to get a sale finalized soon." The deadline for Checketts' "extension on his $120 million loan with Citigroup was Sept. 30, but a source says the bank is working with Checketts until a sale can be completed" (ST. LOUIS POST-DISPATCH, 10/6). ESPN.com's Scott Burnside cited a source as saying that the sale price "could go as high as $190 million if the Peabody Opera House, adjacent to Scottrade Center in downtown St. Louis, is included among the assets." Burnside noted Hulsizer previously bid to purchase the NHL-owned Coyotes, but "withdrew his bid weeks ago and began exploring other opportunities" (ESPN.com, 10/5).
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