Blues Ownership Becoming a Hot Commodity

It seems the sale of the Blues may go a lot quicker than originally expected.

It was announced in mid-March by Blues chairman and CEO Dave Checketts that the club was put up for sale. Checketts had been searching for a new investor since May of 2010 after the former investor, Towerbrook Capital Partners, pulled out their roughly 70 percent of ownership. Towerbrook and Checketts could not agree on the value of their shares, so Checketts and his firm, SCP Worldwide, decided to put their shares up for sale as well, which equaled close to 20 percent. The other 10 percent is controlled by minority owners, such as local businessman Tom Stillman. There has been little talk since about the sale of the team.

Oh, how things can change so quickly.

Heading into free-agency, the Blues were well-below the NHL salary floor. After securing RFA T.J. Oshie and bringing back winger Matt D’Agostini, the Blues dove right in to free-agency, signing goaltender Brian Elliott, defenseman Kent Huskins and forwards Scott Nichol, Jamie Langenbrunner and Jason Arnott. These signings added approximately $7.20 million to the Blues’ salary totals, making everyone wonder where all of this money suddenly came from.

Last week, the same day that Langenbrunner and Arnott signed one-year contracts with the Blues, rumors leaked that the Blues had a few potential-owners bidding for the Blues’ rights.

Today, TSN.ca made those rumors become more of a reality.

TSN is reporting that Matthew Hulsizer, along with three other unknown bidders, is inquiring about taking over control of the Blues. Hulsizer, who recently dropped out of the Phoenix Coyotes sweepstakes, is one of two managing members of PEAK6, LLC, a financial investment firm. Hulsizer was seen at Coyotes home games last season, sporting a Phoenix jersey and cheering with fans. He is well known for being a huge sports fan as well as a crafty businessman.

One of the other bidders is believed to be Tom Stillman and a group of investors from the St. Louis area. The other bids are more of a mystery, but some of the interest is believed to be a group that was interested in purchasing the Dallas Stars.

This information was broken by TSN.ca. Read the original article here.

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