Via Mike Heika of the Dallas Morning News, a reminder that we’re days away from learning if the Dallas Stars will belong to Vancouver businessman Tom Gaglardi.
Gaglardi has already bid around $267 million for the bankrupt team. Now other bidders have until Saturday to exceed Gaglardi’s bid.
Bankruptcy court is very exciting.
And what happens if somebody outbids Gaglardi? Heika explains:
Once a bidder submits himself as a person with a bid $10 million more than Gaglardi’s bid of approximately $267 million, he must then be vetted by the league and the lenders, and that process will take almost another month. The bidder would be alerted by Nov. 19 whether or not he qualifies to participate in an auction, and then the auction would take place in Texas on Nov. 23.
So…this could continue to drag on.
Dallas fans are obviously hoping this all gets sorted soon. According to capgeek.com, the Stars have the lowest cap payroll in the NHL. If they can stay in the playoff hunt, maybe a new owner would be willing to take on some salary before the trade deadline.