Report: Stars officially file bankruptcy plan to sell the franchise


The next step in the Dallas Stars sale process is complete. The team announced on Thursday that they have filed a prepackaged chapter 11 plan in United States Bankruptcy Court to aid in the team’s sale. Lenders have worked with the team to put together the plan that would sell the team to Vancouver businessman Tom Gaglardi for an estimated $230 million—yet the sale is still subject to higher bids within the context of the bankruptcy proceedings.

Straight from the Dallas Stars’ press release:

To facilitate the sale, Dallas Stars, L.P. has commenced a voluntary chapter 11 bankruptcy case in the United States Bankruptcy Court for the District of Delaware in Wilmington, including the filing of a “prepackaged” chapter 11 plan. The chapter 11 process has the support of the National Hockey League and the Dallas Stars’ lenders, who voted to accept the prepackaged plan prior to filing. The prepackaged plan provides for a court-supervised auction of the Dallas Stars Club and other hockey-related assets. The purpose of the sale is to allow for a smooth transition in ownership, while ensuring that the Dallas Stars continue to play at the American Airlines Center in Dallas. The Plan provides that the Dallas Stars will pay and perform all of its obligations to its fans, players, employees, and vendors.”

It’s important to note that this is merely a procedural step in this particular sale. People will see the word “bankruptcy” and automatically assume that the Stars are yet another NHL team that is in financial dire straits. That’s not the case. In the Stars circumstance, there are various lenders who are owed debts that were incurred under the previous regime. In order to handle the debts within the context of the settlement, a prepackaged plan in Bankruptcy court is a viable solution to address all necessary parties. Still, there will be those outside the hockey world who will see “bankruptcy” and make the leap toward financial instability within the sport. That may or may not be true in other markets—but not in Dallas.

The news comes as the Dallas Stars’ players and coaches look to start the 2011-12 season on the right foot. Fortunately, the team’s sale should not affect the players on the ice or the inhibit GM Joe Nieuwendyk from doing his job. President Tony Tavares explained that it will be business as usual for the players starting training camp this week:

“This is a significant step toward completing the transition in ownership. We are pleased that our lenders have shown substantial support for the plan and the sale process, but the Dallas Stars are focused on one thing: hockey. The players and coaches begin Training Camp on Friday and we are all excited to start the new season.”

This season is shaping up to be a year of renewal for the Stars. Between the sale and a new coaching staff led by Glen Gulutzan, the team will look to create a new identity and get back to the playoffs for the first time in three seasons. A young coach leading the young players on the ice will help—but solidifying stable ownership will be the most important thing the team accomplishes this season.

Maybe the Stars will be able to start spending money once again? We should find out in late November.

Report: Islanders cut first-rounder Barzal from camp

Mathew Barzal
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It seems Mathew Barzal has played in his last game in a New York Islanders’ uniform for a little while.

Barzal took part in the Islanders’ preseason finale against the Washington Capitals on Sunday, but after that contest the Islanders decided to return him to WHL Seattle, per Newsday’s Arthur Staple.

He was taken with the 16th overall pick in 2015 NHL Entry Draft. That selection was well-traveled as it originally belonged to the Pittsburgh Penguins, but was involved in the David Perron trade and then moved to the Islanders as part of Edmonton’s deal to get Griffin Reinhart.

Barzal is noteworthy for his skill and speed, but he may have slipped in the draft due to a knee injury he sustained during the 2014-15 campaign.

The Islanders also reassigned Kirill Petrov, Kevin Czuczman, Scott Mayfield, and Adam Pelech to the AHL’s Bridgeport Sound Tigers.

Torres offered in-person hearing, potentially setting up long suspension

Torres hit

What will Raffi Torres get this time?

The 33-year-old forward that has become known primarily for his controversial hits has once again put himself in the sights of the NHL’s Department of Players Safety. They confirmed that he was offered an in-person hearing following his hit on Jakub Silfverberg Saturday night. He declined the opportunity to meet with them face-to-face, but the offer itself is an important detail because it gives the league the option to suspend him for more than five games.

It certainly seems like the stage is set for a lengthy suspension. While Torres is not considered a repeat offender as his last suspension came more than 18 months ago, the NHL still retains the right to consider his history when deciding on this matter.

Among other incidents, he was once was banned from 25 games for his hit on Marian Hossa in 2012, although it was later reduced to 21 contests after an appeal. The NHL found that Torres was guilty of breaking three rules for that hit; namely interference, charging, and illegally hitting the head. The NHL is reviewing Torres’ latest incident for the same three violations.

You can see the hit below:

And here it is slowed down:

Torres got a match penalty and Silfverberg left the game. Fortunately, Ducks coach Bruce Boudreau said that Silfverberg could have returned, but was kept out for precautionary reasons.