SBD/October 8, 2012/Franchises

Davidson, Stillman Come To Terms On Buyout Of Remaining Three Years Of Blues Contract

Davidson had three years remaining on an $8M contract as Blues President
Former Blues President John Davidson has “agreed to an undisclosed buyout” from Owner Tom Stillman to leave the organization, according to Jeremy Rutherford of the ST. LOUIS POST-DISPATCH. Davidson said, "Tom has stuck his neck out to purchase this team with a lot of the local ownership folks. He's looking at the bottom line and I understand that. With that being said, the two of us decided it would be better to help the franchise financially and for myself to be put in a situation where I can take the buyout and just move on. There's no animosity, really. It's business. It's just what it is -- business.” Davidson had three years remaining on an $8M contract, and Stillman said that Davidson's departure was “necessary for a new ownership group attempting to trim costs.” He added Davidson has “done a great job here, so it’s certainly nothing about his work." But Stillman noted team execs are "working to get our business, our financial house in order." Stillman: "We feel the organization was bloated and our expenses were way out of line. And we have to marshal our resources so that we can focus on continuing to put a winning, contending team on the ice” (ST. LOUIS POST-DISPATCH, 10/6). Davidson said, “Whenever there's new ownership, you always know there's the possibility of change and I knew right away, I could tell. It's hard to explain, but you just know” (ST. LOUIS POST-DISPATCH, 10/6).
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