Vancouver Businessman Tom Gaglardi in final stages of purchasing Dallas Stars –NHL offseason Update
Dallas Stars have faced a major setback due to not finding and completing the transfer of ownership with a competent person, which includes not only having ended a brutal season in which they faces elimination prior to playoffs, but also losing star player,
Brad Richards.
Tom Gaglardi, a Vancouver, British Columbia, Canada, based businessman is committed to grabbing the opportunity and entered into the final stages of making the highly important transaction as he submitted his bid to the National Hockey League (NHL) on Friday,
July 29.
Most are baffled to why the deal and handing over of ownership has taken so long since the process officially went underway in April. According to sources, buying the Dallas team is not the regular buying type of deal. Since the team faces massive amounts
of debt, dealing with those either before or after the transaction is a major hurdle in the way.
“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”, says Mike Heika, a Dallas local media news writer.
Gaglardi might not have it so easy, since there are other aspirants looking to also make the same purchase. Doug Miller, owner of the Allen American along with National Basketball Association (NBA) team owner Mark Cuban and Detroit based businessman, Christopher
T. Charlton.
The new owner would not only face huge debts which the team must give back, but also would need to rejuvenate and renew the franchise marketing plan, due to which the team has lost millions in losses because of slow ticket sales and other financial problems.
Tom Gaglardi has obviously become the frontrunner for reaching a deal to purchase Dallas Stars, but it does not exactly mean that the process is over. There is still a long road towards reenergizing the franchise, which could mean a slow but gradual trend
upwards, once all formalities are done and over with.
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