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Tom Gaglardi submits bid to NHL to purchase Dallas Stars

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Vancouver businessman Tom Gaglardi has been the front-runner to purchase the Dallas Stars for quite some time. Friday, Gaglardi took the next step in his quest to buy the Stars from a group of lenders led by Monarch Investments by submitting his proposal to the NHL for approval. By no means does this mean the sale is a done deal—but it’s a necessary step in the process for Gaglardi to finally acquire the team. If no news is good news, then this is great news.

Unfortunately, the sale isn’t as simple as a seller and buyer agreeing to terms and exchanging cash. If it were that easy, the deal would have been done in April when he first acquired the exclusive negotiating rights for the Stars. As Mike Heika of the Dallas Morning News explains, there are plenty of people who are owed money and want a piece of the pie:

“With more than 40 lenders who have legal rights to the Stars, one of the key contentions of the sale will be who gets paid what, as well as who gets paid first. The sale price is not expected to cover the debt, so some lenders will not get paid back.”

“’In a traditional sale, you have a seller who is trying to negotiate with a buyer, and you have traditional sale practices. But this isn’t a traditional sale,’ said one source. ‘You have a group of sellers who have different opinions, and that really means you don’t have a seller, per se. Into that vacuum has stepped a lot of lawyers, and that has made the process very complicated.’”

First, let’s reiterate that this is good news for people who want to see a deal get done. Once the Stars’ sale is behind the organization, they’ll be able to look to the future, set a realistic payroll budget, and once again focus on winning games on the ice. Over the last season, assembling the best team possible has taken a backseat to the ownership issues that have dictated the team’s direction (most notably with Brad Richards). This is a small step forward in the right direction.

At the same time, the situation is looking at a bunch of attorneys and debtors looking to get as much money as possible and a proposal that does not plan on paying all of previous debts. If the NHL approves the proposal, the next step is for the 40 lenders (and their lawyers) to fight in bankruptcy court to receive the best return on their previous investment possible. If the Phoenix Coyotes situation taught us anything, any time “NHL” and “bankruptcy court” are mentioned in the same sentence, it’s best to proceed with caution. Obviously, this is a very different situation—but there are still plenty of moving parts and interested parties for the NHL to appease.

Another point to consider within the context of the bankruptcy hearings is that all other potential ownership groups will be able to submit bids over the course of the proceedings. No matter what figure Gaglardi’s proposal includes, whenever there are names like Texas Rangers CEO Chuck Greenberg and Dallas Mavericks owner Mark Cuban involved (among others), there are bound to be a few fireworks if they’re still interested in the NHL franchise.

Just what the NHL needs: more court cases and legal actions surrounding one of their teams. For the sake of every Stars fan alive, hopefully today’s announcement is the beginning of the end of this drawn-out sale.

Bolts avoid arbitration with Namestnikov — two years, $3.875M

Vladislav Namestnikov
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Tampa Bay has avoided Friday’s scheduled arbitration hearing with forward Vladislav Namestnikov, agreeing to a two-year, $3.875M deal on Tuesday evening, per ESPN.

Namestnikov, 23, had a breakout campaign last year, scoring 14 goals and 35 points in 80 games — all career highs. The former first-round pick also appeared in 17 playoff games for the Bolts, scoring a goal and three points while helping the club to the Eastern Conference Final.

Coming off a one-year deal in which he made $874,125, the diminutive Russian gets a nice pay bump with this latest contract, and a bit of security with the two-year term. He should play a fairly integral role next season, coming off a year in which he finished tied for fourth on the team in goals, with Tyler Johnson.

But while tonight may be about Namestnikov, it’s another Russian forward in Tampa Bay that everybody now has their eyes on — Nikita Kucherov, the playoff scoring sensation that declined to file for arbitration, but still requires a new deal.

Given some of the big-money contracts GM Steve Yzerman has handed out this summer — namely those to Steve Stamkos, Victor Hedman and Alex Killorn — the Kucherov negotiations are definitely ones to keep an eye on.

Talks ongoing between Wild and Dumba, meeting expected soon

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There’s just one piece of business left for Minnesota this summer — a new contract for RFA defenseman Matt Dumba.

And it sounds like that piece of business will soon be attended to.

From the Star-Tribune:

There have been ongoing talks between Wild assistant GM Brent Flahr and [Dumba’s] agent Craig Oster.

The two are expected to meet face to face in Calgary at the Hockey Canada camp.

Dumba, the former No. 7 overall pick, just wrapped his entry-level deal, coming off a campaign in which he set career highs in games played (81), goals (10) and points (26).

He also notched a pair of assists in the Wild’s six-game loss to Dallas in the playoffs.

Dumba, 22, did see his name surface in trade talks this season. There was a report in late January that he was the return piece in a potential swap for Tampa Bay’s Jonathan Drouin, and he’s been tied to teams looking for a blueline upgrade.

A good puck mover with offensive skills — and a right-handed shot — Dumba is definitely a commodity. What’s more, logic suggests the Wild could opt to move him, given the long-term financial commitments to fellow defensemen Ryan Suter (signed through 2025 at $7.53 million), Jonas Brodin (2021 at $4.16M), Jared Spurgeon (2020, $5.18M) and Marco Scandella (2020, $4M).

Minnesota has some other young defensive prospects in the system, too.

There’s former Gophers standout Mike Reilly, Miami of Ohio product Louis Belpedio and Gustav Olofsson, the 46th overall pick in ’13 that’s been honing his game in AHL Iowa (and made his NHL debut last season).

The Wild are in control of the Dumba situation and can slow play negotiations, possibly while re-exploring trade scenarios. Don’t forget the Bruins are still in search of the “transitional” defenseman they desperately want.

But should things go the expected way and Dumba re-signs in Minnesota, the Star-Tribune said a bridge deal is the “likeliest” outcome.

Journeyman enforcer Rosehill signs with Scottish team

Paul Bissonnette, Jay Rosehill
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Noted pugilist Jay Rosehill has followed in the footsteps of his fellow tough guys, and will try his hand overseas.

Specifically, in the United Kingdom.

On Tuesday, the EIHL’s Scottish-based outfit in Braehead — the Clan — announced it had signed Rosehill for the upcoming campaign. The move comes after the 31-year-old spent each of the last two seasons with Philly’s AHL affiliate in Lehigh Valley.

Though he’s slowed down in recent years, Rosehill has long been known as an extremely active fighter. At no time was this more evident than during the ’08-09 campaign, when he fought a staggering 33 times (yeah, thirty-three) while playing for AHL Norfolk.

Rosehill last played in the NHL during the ’13-14 campaign, scoring two goals in 34 games for the Flyers — while racking up 90 PIM.

Here’s an example of some of his most famous handiwork:

As mentioned above, the EIHL has landed a few notable ex-NHL fighters. Cam Janssen, Kevin Westgarth, Paul Bissonnette and Tom Sestito have all played there.

 

 

Veteran d-man Foster retires, moves into coaching

UNIONDALE, NY - DECEMBER 13:  Kurtis Foster #26 of the Minnesota Wild looks on during their NHL game against the New York Islanders on December 13, 2005 at Nassau Coliseum in Uniondale, New York.  The Wild defeated the Islanders 4-3.  (Photo by Jim McIsaac/Getty Images)
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Kurtis Foster, who appeared in over 400 games during a 10-year NHL career, is hanging up his skates to enter the next phase of his hockey life — coaching.

Foster, 34, has rejoined his former junior team in OHL Peterborough as an assistant coach, per the Examiner. The decision comes after Foster spent the last three years playing overseas in the KHL and, most recently, in the German League.

The 40th overall pick in 2000, Foster is often remembered for a horrific leg break while playing for Minnesota during the 2007-08 campaign, in which his femur was shattered by Torrey Mitchell after Mitchell tried to prevent an icing call.

The severity of the collision and Foster’s injury — he underwent emergency surgery, nearly bled out and almost lost his leg — prompted an immediate rule tweak from the NHL, and has since been viewed as a catalyst for the league’s adoption of no-touch icing.

Impressively, Foster recovered from the broken femur to post a career-high 42 points in 74 games with the Lightning in ’09-10.

In addition to the Wild and Bolts, Foster spent time with the Thrashers, Oilers, Ducks, Devils and Flyers.