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.

Calgary mayor: ‘Errors of omission’ in Flames arena proposal

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On Thursday, the Calgary Flames released a report claiming they were prepared to contribute $275 million for a new arena, with additional funding — in the ball park of $225 million — from a Community Revitalization Levy.

On Friday, Calgary Mayor Naheed Nenshi responded to the proposal and the events of yesterday.

“I wouldn’t say dishonesty. I would, however, say that there are perhaps some errors of omission,” Nenshi told reporters, according to Global Calgary, when asked if there had been a level of dishonesty from the Flames with their proposal.

The Flames not only released a report with financial details to their website, but they also took out ads in local newspapers. Nenshi took issue with the details the Flames released yesterday.

“What was in that ad was not actually what the last deal on the table with the city was,” he said.

“For example, yesterday you saw that the Flames’ owners are claiming that they’re putting $275 million up front. Makes it sound like a (check) is being put on the table. Certainly that has not been discussed. That would’ve really changed things had that been the discussion.

“The discussion, the last I saw, was the Flames were putting $100 million in and the rest would be a ticket tax, which they wanted the city to take out, to get for and to front. I’m not quite sure how that equals the Flames putting in money up front.”

Yesterday, the Flames added in their report that, after two years of discussions with the city about a new arena, they will no longer pursue a new arena in Calgary.

The Flames currently play at the Saddledome, which is now 34 years old.

Report: Skinner among leading candidates for Hurricanes captaincy

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The Carolina Hurricanes went last season without a captain. That will change once training camp is over, and, according to a recent report, Jeff Skinner is one of the prime candidates to possibly wear the ‘C’ for this season.

The Hurricanes selected Skinner seventh overall in 2010. He made an instant impact on the NHL club, scoring 31 goals and 63 points in his rookie season as a teenager. He’s been a valuable offensive weapon for Carolina ever since.

This past season, he scored 37 goals — a career best. Although the consideration to potentially make him the next captain goes beyond his skills around the opposing net.

From NHL.com:

“He’s a passionate guy and he’s a passionate player,” Peters said. “He’s a real good pro in the fact that he looks after himself, he trains properly and the guys have unreal respect for the way he looks after his body. The maturity shows. I know guys bring it up quite a bit.”

To that end, Peters said he was at a staff golf outing prior to the start of training camp with about 16 people, including members of the Hurricanes’ medical and strength training staffs, and he polled as many people about the captaincy candidates as he could.

“[Skinner’s] name came up in the conversation quite a bit, and they bring up that type of stuff, the way he looks after himself and the way he prepares,” Peters said. “He’s passionate about it and he’s hungry to win.”

The Hurricanes have, over the past few years, done a nice job of building a talented young roster that has shown signs of being able to compete in the Eastern Conference. They do, however, play in a difficult Metropolitan Division, which features the Blue Jackets, Penguins, Capitals and Rangers.

The biggest change in Carolina this offseason was in net, with the addition of Scott Darling, who was the capable back-up in Chicago but is now taking over the No. 1 role with the Hurricanes.

Another change is still upcoming. Eric Staal was the captain in Carolina for six years, but the team is expected to soon name a replacement. There are other candidates for the Hurricanes captaincy, as well, like Justin Faulk and Jordan Staal.

“Someone is going to wear one, for sure,” said Peters earlier this month, per TSN. “Our leadership group is fine and we’ve got real good candidates. They’ll all provide leadership whether they wear a letter or not.”

Islanders sign 2016 first-round pick Bellows to entry-level deal

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The New York Islanders made a few roster moves Friday. That included sending 2016 first-round pick Kieffer Bellows back to the Portland Winterhawks in the Western Hockey League.

Shortly after that, it was announced that Bellows and the Islanders agreed to terms on a three-year entry-level contract.

The Islanders originally selected Bellows with the 19th overall pick in the 2016 NHL Draft.

The 19-year-old left winger played one year at Boston University, tallying seven goals and 14 points before deciding to leave school to play this season in the WHL, which has a completely different schedule from college.

“Play more games,” Bellows told NHL.com in July. “I think just the 72 games in the [WHL] regular season is the biggest thing. I can’t thank [Boston University coach David] Quinn enough and all the guys on the team. I had an unbelievable first year at Boston University, but I just felt it was best for me to go and play more games.”

Stamkos to make preseason debut tonight vs. Predators

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For the first time since Nov. 15, 2016, Steven Stamkos will be in the Tampa Bay Lightning lineup.

Per Joe Smith of the Tampa Bay Times, the prolific scorer will play tonight for the Bolts, as they continue the preseason against the Nashville Predators.

Stamkos suffered a knee injury last November. He underwent surgery but didn’t make it back to the lineup for the remainder of the year, marking the second time in four years his regular season was derailed by a significant injury.

“Listen, I snapped my leg in half and came back and was playing the best hockey of my career,” Stamkos told the Tampa Bay Times, referring to his broken leg suffered during the 2013-14 season.

“So this is another hurdle. I’m confident that when you put in the work, you’re going to find ways. It may be different ways. You may have to adjust certain parts of your game. But we’ll handle that when I see how it feels in a game situation. We’ll know more tonight.”

Given such a lengthy time away from game action, it might be wise — at least early on — to temper expectations of Stamkos.

He is one of the league’s most dangerous scorers. But he also hasn’t played a game in 10 months. In a conversation with the Tampa Bay Times, Minnesota Wild forward Zach Parise, who had the same surgery in 2010, said it “took probably a year and a half to get back to feeling back to normal.”

It appears Stamkos will center a line tonight with Brayden Point and Nikita Kucherov, who should certainly be pleased to be playing alongside No. 91.