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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.

Allen’s mental reset continues, as Blues will start Hutton in Pittsburgh

St. Louis Blues goalie Jake Allen is slow to get up after giving up a goal to Washington Capitals' T.J. Oshie during the second period of an NHL hockey game Thursday, Jan. 19, 2017, in St. Louis. (AP Photo/Jeff Roberson)
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St. Louis is giving Jake Allen more time to sort out his struggles.

Today, the club announced backup Carter Hutton will start tomorrow in Pittsburgh, while Pheonix Copley — the AHL call-up that allowed five goals in Saturdays’ loss in Winnipeg — will serve as the No. 2.

Allen, who didn’t even travel to Winnipeg so he could ‘reset’ mentally, will start on Thursday in Minnesota, which will be St. Louis’ last game prior to the All-Star break. Copley will again serve as the backup.

The decision to go back to Allen comes after a horrific stretch in which he was yanked from three straight games, and four of his past six.

It is noteworthy, though, that Allen isn’t getting the Pittsburgh game. Part of that could be the opponent — the Pens are a force offensively, and lead the NHL in goals per game — but it could also be that Allen needs additional time to sort out his issues.

Whatever the case, the plan may have changed. In explaining why he left Allen behind while the team went to Winnipeg, Blues GM Doug Armstrong suggested Allen could get right back in.

“I think taking a day way, getting a total reset — he could reset traveling with the team, but I wanted a complete reset — and then we come back on Sunday, he’s back in the net and he’s ready to go,” Armstrong said, per the Post-Dispatch. “To me, it’s not a huge story; he’s going to take a day to get a reset with his family — he just had a young baby — but the play needs to improve and I want to give him a fresh start.”

Allen’s struggles this year are well-documented (see here, here, here and here). Per the Post-Dispatch, his .897 save percentage ranks 43rd among 47 goalies who have appeared in 14 or more games this season.

Oshie’s contract status underscores urgency in Washington

Washington Capitals' Matt Niskanen (2) and T.J. Oshie (77) celebrate with Alex Ovechkin (8) after Ovechkin scored against the Dallas Stars during the third period an NHL hockey game, Saturday, Jan. 21, 2017, in Dallas. Stars' Jamie Benn (14) skates back to the bench. (AP Photo/Tony Gutierrez)
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The way he keeps scoring, T.J. Oshie‘s next contract isn’t getting any smaller.

The 30-year-old winger was today named the NHL’s third star of the week, after racking up six points (3G, 3A) in three games for the red-hot Washington Capitals.

Oshie now has 31 points (17G, 14A) in 38 games. A pending unrestricted free agent, he’ll no doubt be looking for a raise beyond his current cap hit of $4.175 million.

One comparable contract is Andrew Ladd‘s seven-year, $38.5 million deal with the Islanders.

Loui Eriksson‘s six-year, $36 million deal with the Canucks is another.

And one more for good measure: David Backes‘ five-year, $30 million deal with the Bruins.

All three of those contracts have a cap hit of around, or exactly, $6 million. Ladd and Eriksson are a year older than Oshie, while Backes is two years older. They’re all reliable veteran wingers, just like Oshie.

Now, the Caps could always try and convince Oshie to take a home-town discount. They may even be able to keep him without a discount.

That being said, their No. 1 priority has to be getting Evgeny Kuznetsov, a pending restricted free agent, locked up. And they also need to keep in mind John Carlson, their No. 1 defenseman who can become unrestricted in the summer of 2018.

“We’re going to have some decisions to make as far as veteran players, and our young guys are going to be due for some pay raises,” Caps GM Brian MacLellan said last season.

When he said it, MacLellan saw his team in a “two-year window.”

Alas, only one year of that window remains. Hence, the urgency to finally win the Stanley Cup this spring.

Like Oshie, Justin Williams and Karl Alzner are pending UFAs.

And like Kuznetsov, Andre Burakovsky, Brett ConnollyDmitry Orlov, Nate Schmidt, and Philipp Grubauer are pending RFAs.

The Caps host Carolina tonight.

Related: Kuznetsov sets table for Jakub Vrana’s first NHL goal

Galchenyuk re-injures knee, but not believed to be serious

MONTREAL, QC - NOVEMBER 08:  Alex Galchenyuk #27 of the Montreal Canadiens looks on during the warmup prior to the NHL game against the Boston Bruins at the Bell Centre on November 8, 2016 in Montreal, Quebec, Canada.  The Montreal Canadiens defeated the Boston Bruins 3-2.  (Photo by Minas Panagiotakis/Getty Images)
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Given that Montreal center Alex Galchenyuk‘s already missed 18 games this season to a knee injury, there was some consternation on Monday as head coach Michel Therrien said Galchenyuk had aggravated the ailment, and would miss Tuesday’s game against Calgary.

Thankfully for the Habs, it doesn’t sound like a serious issue.

Therrien said Galchenyuk “slightly injured” his knee, and is listed as day-to-day. This falls in line with what occurred during Saturday’s OT loss to Buffalo — even though Galchenyuk suffered the ailment during the game, he was able to play through it and finish with 16:36 TOI.

It’s unfortunate this knee issue has lingered, as the fifth-year pro is having a great season. Galchenyuk has 11 goals and 27 points through 30 games and, had he been healthy, probably would’ve eclipsed last year’s production, when he scored 30 goals and 56 points.

Looking ahead, it’ll be interesting to see when the Habs opt to get Galchenyuk back in the lineup. After tomorrow’s game against Calgary, they have just one game left until the All-Star break, on Thursday in Brooklyn.

After that, they don’t play again until Jan. 31.

Rangers’ Hayes out 2-3 weeks with lower-body injury

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Kevin Hayes, who sits third on the Rangers with 35 points, will miss the next couple of weeks with a lower-body ailment, the club announced on Monday.

The news comes one day after Hayes exited New York’s 1-0 OT win over Detroit after playing just 8:41. Per Newsday, it’s a left leg ailment.

It’s a tough blow for a guy that had been playing well lately. Hayes had been a point-per-game producer in January, with two goals and five assists through seven games, developing chemistry on a line with Michael Grabner and J.T. Miller.

If there’s a silver lining here, it’s the schedule. Hayes’ absence will coincide with the All-Star break, so he won’t miss as many games as he would’ve under usual circumstances.

Still, if he’s shelved for the full three weeks, that puts his return around Feb. 13 — meaning he could miss up to eight contests.

In related news, the Blueshirts activated Matt Puempel off IR today. He’d been out since December with a concussion.