Dallas Stars sale takes next step in bankruptcy court

While the team itself wraps up work at Prince Edward Island, the Dallas Stars’ most important battles will take place in the courtroom rather than along the boards.

Today marked another key step in that process, as the bankruptcy court proceedings began with a rather important thing determined: the Stars will, in fact, be able to function as normal even as they go through the bankruptcy process. It will be business as usual, with the Dallas Morning News confirming that 12 motions were passed that permit the team to keep the lights on (both literally and figuratively).

That’s a crucial part of the process after the team officially filed for bankruptcy last week as part of a plan to sell the franchise, which is currently being controlled by creditors who took over once Tom Hicks’ financial issues eliminated his ability to run the team.

The next step is an even bigger one: a hearing involving the bidding process for the team will take place on Thursday. That will give bidders a 30-day deadline to make their attempts to own the Stars, which means that they must submit their bids by Oct. 22. Katie Hairopoulos explains that the the proposed auction date would then be Nov. 21, which would make the goal of changing ownership before 2012 seem fairly reasonable. (Keep in mind that the new owner(s) would need to be approved by the NHL Board of Governors, along with other steps that might delay or even halt the process.)

While there are certainly some elements that are still in the air, it’s hard to deny the feeling of optimism permeating the potential deal. Frontrunner Tom Gaglardi already announced the legal team that will represent him in the bidding, while Business Week reveals that former Texas Rangers co-owner Chuck Greenberg may indeed get involved in the process (which has been rumored for some time). Check out this post for some speculation regarding other possible owners, including Doug Miller, who owns the CHL’s Allen Americans.

Again, though, Gaglardi seems like the top contender. Dave Shoalts of the Globe & Mail elaborates on why he might not face very serious opposition.

The offer will also serve as a stalking-horse bid for the bankruptcy court, which means other parties can file a higher bid with the court. However, Stars insiders do not expect any competing bids and Gaglardi may take control of the team in the next two months if he gets the expected approval from the NHL’s board of governors.

Once Gaglardi is in charge, Stars fans can expect a strong marketing push to win them back, as the team’s ticket sales eroded badly in Hicks’ final years. There may also be a new president on the way, since current president Tony Tavares, a veteran NHL executive, was appointed by the banks to look after the team during the bankruptcy and sale.

While GM Joe Nieuwendyk claims that the team wasn’t affected by ownership issues, it clearly made it that much easier for Brad Richards to decide to leave town. (I’d actually argue that the Stars might be better off in the long run because of Richards’ age and the fact that they missed the playoffs for three straight seasons with him on their roster, but that’s a debate for another day.)

Nieuwendyk can say all the right things about the team’s health without an owner, but with the specter of budding star Jamie Benn’s pending restricted free agency and the team’s struggles at the box office, a deep-pocketed new owner would be a huge boost for the Stars. While a lot can change in the next week and months, it’s starting to look like the Stars will get their new owner and a steadied direction in the near future.

Colin White makes Senators playoff debut, Penguins lineup the same

Getty
Leave a comment

The Stanley Cup Playoffs often feel like a battle of attrition, which only makes the introduction of fresh faces that much more compelling.

Try this on for size: with their playoff lives on the line, the Ottawa Senators will see the playoff debut of 2015 first-rounder* Colin White against the Pittsburgh Penguins on Tuesday. It’s also just his third game at the NHL level, overall.

After rolling with seven defensemen in Game 5, Guy Boucher is opting for a traditional alignment of 12 forwards and six defensemen.

White has that high-level pedigree and possibly fresh legs – even just relatively speaking – so it’s not out of the question for the 20-year-old center to make an impact.

Check out the full roster report here (note: Pittsburgh’s going with the same group as Game 5). Scott Wilson is good to go for the Penguins.

* – 21st overall.

Boucher on Senators’ resiliency: ‘We’ve always chosen to fight’

2 Comments

It’s almost always intriguing to see how a team responds to a tough playoff loss, but that fascination spikes even more if said team fell by an especially lopsided score.

We’ve seen the Pittsburgh Penguins respond to some blowouts with big wins, but now the shoe is on the other foot; how will the Ottawa Senators rebound from the 7-0 shellacking they suffered in Game 5?

Well, if you ask Guy Boucher, they’ve developed a track record that shows they’re willing to fight with their backs against the wall.

Great stuff, right? It’s honestly too bad that Boucher’s defensive system isn’t always as entertaining as his quotes.

Speaking of how Game 5 feeds into tonight’s Game 6, the video above this post’s headline discusses how Ottawa’s goaltenders might be feeling heading into Tuesday.

CLICK HERE TO WATCH LIVE COVERAGE FOR GAME 6

WATCH LIVE: Pittsburgh Penguins at Ottawa Senators – Game 6

Getty
2 Comments

Last night, the Nashville Predators demoralized the Ducks and advanced to their first-ever Stanley Cup Final. Will we learn their opponent tonight or on Thursday?

That’s up to how the Pittsburgh Penguins and Ottawa Senators perform in Game 6 of the Eastern Conference Final.

Will Sidney Crosby and the Penguins follow that 7-0 rout with a close-out performance, or will Erik Karlsson and the Senators avenge that embarrassing loss to send this series to a decisive Game 7?

Find out on NBCSN at tonight. You can also watch the game online and via the NBC Sports App.

Here’s what you need to know:

Pittsburgh Penguins vs. Ottawa Senators (Pens lead 3-2)

Time: 8:00 p.m. ET

Network: NBCSN (Stream online here)

Check out the highlights from Pittsburgh’s 7-0 win in Game 5

Related:

Pens redefining defense by committee

Four things the Pens need to do to eliminate the Sens

Swedish League champ sees another sign in NHL

Leave a comment

It’s an offseason of change for SHL champion HV71.

In the days following the league title, HV71 saw No. 1 goalie Linus Soderstrom sign his ELC with the Isles and d-man Andreas Borgman — the league’s rookie of the year — ink with the Leafs.

Earlier today, HV71 winger Filip Sandberg signed a two-year deal with San Jose. Shortly after that, Columbus announced it inked Sandberg’s running mate up front, Kevin Stenlund, to a three-year, entry-level deal.

Stenlund, 20, was the Blue Jackets’ second-round pick (58th overall) at the 2015 draft. He’s coming off a good year, setting career highs in goals, assists, points and games played during the regular season, then adding 10 points in 16 playoff appearances.

And he might have a chance to build on that campaign.

Per the Dispatch, the Blue Jackets expect Stenlund to play next year in Sweden, rather than try to make the move overseas. It’s possible the Isles could make the same decision with Soderstrom — meaning it’s not all bad for HV71.