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.

Eddie Lack expects to be released from hospital on Monday night

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As scary as the situation was for Carolina Hurricanes goalie Eddie Lack, the good news continues to pour in.

First, the Hurricanes provided an update that he had “full feeling in his extremities” while under observation at a hospital. This followed the promising sign that he was able to give a “thumbs up” gesture while being taken off the ice on a stretcher after the Hurricanes’ 4-3 overtime loss to the Detroit Red Wings.

The best news came late on Monday night, however, as Lack himself tweeted that he expects to head back home as early as this late evening/early morning:

That’s fantastic news. Video of that scary collision with Andreas Athanasiou can be seen in the video above this post’s headline.

Blues, Flames take care of business (Islanders … do not)

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For a while there, it seemed like the idle Boston Bruins and Toronto Maple Leafs would be Monday’s “winners.” That changed when the Carolina Hurricanes salvaged a standings point and the Tampa Bay Lightning stormed back to beat the Blackhawks.

Still, there were some teams who came through (beyond the Lightning) and those who fell flat, so let’s cover some of the results in short.

West teams get it done

Unlike their counterparts out East, West teams jockeying for position avoided “unforced errors” in losing to non-playoff teams.

The St. Louis Blues beat the Arizona Coyotes 4-1 while the Calgary Flames topped the Colorado Avalanche 4-2. Johnny Gaudreau generated his 200th point (and 201st) in Calgary’s win, while Alex Steen generated four assists. (Vladimir Tarasenko also enjoyed a three-point night.)

This keeps the Blues and Flames in position to advance. St. Louis is one point behind the Nashville Predators for third in the Central while the Flames are a point behind both the Sharks and Oilers for second and third in the Pacific (while remaining in shouting distance of the division title).

East teams stumble, some get over it

Again, the Lightning fought through hurdles to win and the Hurricanes managed that “charity point.”

Overall, East teams struggled. The New York Islanders fell to the Predators by a score of 3-1. Your mileage may vary on the Florida Panthers’ chances, especially after they fell 4-2 to the Buffalo Sabres.

Brian Gionta scored in his 1,000th game as Buffalo won, by the way.

Here’s what the race for the final spot in the East looks like after tonight:

Final wild card: Bruins – 84 points in 75 games played

Lightning – 83 points in 75 GP
Islanders – 82 points in 75 GP
Hurricanes – 80 points in 74 GP

Victor Hedman might just force his way into the Norris argument

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For quite some time this season, the Norris Trophy race felt a bit like “Brent Burns, Erik Karlsson and [insert token finalist].” As it turns out, Victor Hedman is making it a pretty interesting three-horse race.

With Burns and Karlsson idle on Monday, Hedman continued to go on the best offensive tear of his already-impressive career, contributing three assists to the Tampa Bay Lightning’s 5-4 overtime win against the Chicago Blackhawks.

As much credit as forwards Nikita Kucherov and Jonathan Drouin deserve in pushing Tampa Bay in Steven Stamkos‘ absence, Hedman has been an all-world blueliner for a Lightning team with a defense that isn’t really surrounding him with great talent.

He’s serving as a workhorse when his team needs him the most:

Now, when you look at the numbers, it’s probably fair to say that Hedman comes in third among the likely finalists in simple categories:

Brent Burns: 27 goals (!), 72 points in 75 games, +16 rating, 24:52 time-on-ice average

Erik Karlsson: 14 goals, 67 points in 74 games, +7, 26:53 minutes per game (fourth highest average in the NHL)

Victor Hedman: 15 goals, 65 points in 72 games, +2 rating, came into Monday with average of 24:15 minutes per game.

Looking at those breakdowns, you might wonder why someone wouldn’t just flippantly hand Hedman the “bronze medal” and a pat on the back … but things get more interesting if you ponder the all-around impact of those three.

Now, traditional-thinkers who slam risky defensemen for their mistakes often overstate such arguments. Both Burns and Karlsson tilt the ice in their teams’ favors, usually to profound degrees.

Still … Hedman locks opponents down to a truly elite degree and scores at a similar rate. Hedman could very well own the “two-way” argument; you could perhaps see his case most clearly when you compare his “HERO” chart to those of Burns and Karlsson, especially from the perspective of conceding shots.

Again, Burns remains the likely winner, and he would be a deserving one. You could make a solid Hart Trophy argument for Burns, in addition to tabbing him as the Norris frontrunner.

Even so, voters would be wise to take Hedman’s case seriously, especially as the Lightning continue their improbable playoff push.

Lightning storm back against Blackhawks, finish one point out of playoffs

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Who would have thought that the Tampa Bay Lightning would rally back from a 4-1 deficit tonight? Then again, who expected them to be so close to a playoff spot mere weeks ago, when they were sellers at the trade deadline?

The Lightning continue to show that they won’t just roll over and die, scoring four unanswered goals to beat the Chicago Blackhawks 5-4 in overtime on Monday.

While Jonathan Drouin was a catalyst for the second-period rally, it was an unlikely scorer who clinched the victory, as Yanni Gourde ended a thrilling run of 3-on-3 chances with the overtime-winner.

Really, it might have been fitting. Things looked glum when Tomas Jurco scored his first goal of the season against the Lightning, then the mood was totally flipped when Gourde’s second tally of 2016-17 grabbed a huge win.

With the Islanders losing to the Predators, the Hurricanes only managing a “loser point” against the Red Wings and the Bruins idle, Tampa Bay is a breath away from a playoff berth:

Final wild card: Bruins – 84 points in 75 games played

Lightning – 83 points in 75 GP
Islanders – 82 points in 75 GP
Hurricanes – 80 points in 74 GP

Yes, all of a sudden, a long-shot postseason run seems quite attainable.

Maybe the Lightning would prefer it if we kept counting them out, though?