Forbes report: Dallas Stars close to being sold for $275-$300 million

dallas_stars.gifThe saga surrounding the sale of the Dallas Stars may finally be coming to an end. Mike Ozanian of Forbes Magazine is reporting that the team is on the brink of being sold for an amount in the range of $275-$300 million. He goes on to add this tidbit:

The sale of the Stars  tells me two things: creditors of Hicks Sports Group will recoup some $200 million on top of what they will receive from the sale of the Texas Rangers and that despite the troubles of the Phoenix Coyotes, Atlanta Thrashers and Nashville Predators hockey can sell in the right southern market. Even the lower enterprise value for the Stars works out to  a rich 2.8 times revenue and 23 times operating income. Those are NBA-like multiples.

Considering that Hicks was able to recently get rid of the Texas Rangers in a messy litigation wrestling match that involved Nolan Ryan (who along with Chuck Greenberg ultimately bought the team for $590 million), Tom Hicks’ escape from the burden of professional sports is nearly complete. Liverpool soccer fans will be disheartened to know he’s still involved with them.

Ozanian fails to note, however, that hockey in Dallas is an enterprise unto itself and one that’s vastly different than the issues in Phoenix, Atlanta or Nashville. In Dallas, hockey has been a roaring success. Attendance is never an issue, the team has generally always been successful there and it’s grown the game in Texas by leaps and bounds. After all, do you think the AHL would have three franchises there without it going over well with the locals? I think not. The Stars are without a doubt a successful NHL franchise and their location in Texas just shows that if you bring a winner to town it can do well.

With Hicks out of the picture, whether the new owner is Bill Gallacher or Tom Gaglardi remains to be seen, but so long as they’re in place, you have to think that the shackles will come off of the finances of the Stars. This summer has seen the Stars rein things in a bit in regards to spending money, leading to trade rumors involving Mike Ribeiro being shipped out so the team could lose his contract. The Stars, as it sits now, have the sixth lowest payroll in the NHL. That may jump up a bit once they sign restricted free agents Niklas Grossman and James Neal. Getting Hicks’ toxic-of-late presence out of Dallas and the NHL should do both a world of good.

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    Flames’ Jokipakka (hip) might not play for Finns at World Cup

    CALGARY, AB - APRIL 5: Jyrki Jokipakka #3 of the Calgary Flames in action against the Los Angeles Kings during an NHL game at Scotiabank Saddledome on April 5, 2016 in Calgary, Alberta, Canada. (Photo by Derek Leung/Getty Images)
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    Jyrki Jokipakka was one of the three Finnish d-men added to the World Cup roster last week but, according to Calgary president Brian Burke, Jokipakka isn’t a lock to play this fall.

    “He had hip surgery after the season, and it’s not 100 percent that he’s going to be able to compete in this tournament,” Burke told Sportsnet’s Fan 960. “But the fact he was named recognizes his accomplishments to date, and we’re very proud of [him].”

    Jokipakka, acquired in the Kris Russell-to-Dallas deadline trade, appeared in 58 games last year — 18 for the Flames, 40 for the Stars. He finished with two goals and 12 points.

    Still only 24 years old, Jokipakka could be a nice piece for the Flames moving forward. He’s 6-foot-3, 215 pounds and was rated highly enough to crack the Finnish roster (granted, the country isn’t overwhelmingly deep on the blueline).

    So it’s understandable why the club might be wary of letting him play in the World Cup. In addition to coming off major surgery, Jokipakka is headed into the last of a two-year, $1.8 million deal with a $900,000 average annual cap hit.

    Once that expires, he’ll become a restricted free agent.

    ‘Yep,’ Letang will play tonight

    TAMPA, FL - MAY 24:  Kris Letang #58 of the Pittsburgh Penguins celebrates with his teammates Sidney Crosby #87 after scoring a goal against Andrei Vasilevskiy #88 of the Tampa Bay Lightning during the second period in Game Six of the Eastern Conference Final during the 2016 NHL Stanley Cup Playoffs at Amalie Arena on May 24, 2016 in Tampa, Florida.  (Photo by Jason Behnken/Getty Images)
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    PITTSBURGH — Kris Letang will play tonight. He confirmed it this morning, albeit in rather unusual circumstances.

    Letang did not participate in yesterday’s Media Day at the Stanley Cup Final. He didn’t practice either. The Penguins said it was simply a “maintenance day” for their best defensemen, but when it was learned he would hold a press conference this morning, all of a sudden people started to wonder about his status for Game 1 against the Sharks.

    He was asked if he was playing.

    “Yep.”

    So, no problems?

    “Nope.”

    And that was that.

    No explanation was provided about yesterday, but Penguins head coach Mike Sullivan said a few minutes later that he was confident that Letang would be able to log his usual amount of minutes.

    “Very confident,” said Sullivan.

    Penguins center Nick Bonino also confirmed that he’ll be able to go tonight. He didn’t skate Saturday or Sunday, but was on the ice this morning.

    Former NHLer Bulis calls it a career

    WASHINGTON - DECEMBER 23:  Center Jan Bulis #38 of the Montreal Canadiens looks on against the Washington Capitals on December 23, 2005 at the MCI Center in Washington D.C. The Capitals won 4-2.  (Photo by Mitchell Layton/Getty Images)
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    Jan Bulis, who appeared in 552 games with the Capitals, Canadiens and Canucks, announced his retirement from professional hockey today, per Czech news outlet Ceske Noviny.

    Bulis, 38, last played in North America with Vancouver during the 2006-07 campaign, and has since carved out a pretty lengthy career in the KHL, playing for both Mytishchi Atlant and Chelyabinsk Traktor.

    Picked 43rd overall by Washington at the 1996 draft, Bulis’ best years came with the Habs. He posted a career-high 20 goals and 40 points in 2005-06 — that year, he also represented the Czechs at the Winter Olympics in Turin (capturing bronze) and at the World Hockey Championships (capturing silver).

    Report: Semin will stay in KHL for 2016-17

    OTTAWA, ON - OCTOBER 11:  Alexander Semin #13 of the Montreal Canadiens skates during the NHL game against the Ottawa Senators at Canadian Tire Centre on October 11, 2015 in Ottawa, Ontario, Canada.  The Montreal Canadiens defeated the Ottawa Senators 3-1.  (Photo by Minas Panagiotakis/Getty Images)
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    It seems there will be no NHL comeback attempt by Alex Semin. At least not in 2016-17.

    Instead, Semin has inked a one-year extension with Magnitogorsk Metallurg, according to Sport-Express writer Igor Eronko.

    At 32 years old, Semin still could have a lot of years left in him as a professional hockey player, but at this point it wouldn’t be surprising if he has played in his last NHL game. Early in his career his talent was clear and demonstrated by some great showings offensively, but he was plagued by inconsistency. In recent years though, he wasn’t so much inconsistent as he was underwhelming.

    After being limited to six goals and 19 points in 57 games with Carolina in 2014-15, the one-time 40-goal scorer was bought out of his five-year, $35 million contract just two seasons into it. Montreal took a chance on him for 2015-16, but he only appeared in 15 games with the Canadiens before they put him on unconditional waivers on Dec. 9.

    He’s fared better in the KHL though, with five goals and 14 points in 20 regular season games followed by another seven markers and 15 points in 23 playoff contests.