Hull interested in joining Stillman group in bid to buy Blue

[DaDitka]

Hull interested in joining Stillman group in bid to buy Blues
BY JEREMY RUTHERFORD • jrutherford@post-dispatch.com > 314-444-7135 | Posted: Sunday, November 27, 2011 12:20 am | (13) Comments

December 15, 2009 -- Brett Hull , honored last year following his induction into the Hockey Hall of Fame, will be the third Blues player to have a statue in front of Scottrade Center when the team unveils Hull's likeness prior to the club's season opener Oct. 9. Chris Lee clee@post-dispatch.com
Former Blues great Brett Hull has expressed interest in being part of Tom Stillman's investment group that is seeking to buy the hockey team, NHL sources have told the Post-Dispatch.

Hull is not officially part of the group, but his intent has been communicated to the league and to Stillman, who is currently the Blues' minority owner.

Sources believe that Hull, 47, has a desire to become more than an investor in Stillman's group, and in fact, could have a role within the organization, a marriage that some Blues fans have supported since No. 16 retired from the NHL in 2005.

When reached late Saturday night, Hull wrote via text message that he had "no comment." Stillman also declined to comment.

The Blues were officially put on the market by club chairman Dave Checketts last March. On Oct. 28, sources told the Post-Dispatch that Checketts signed a purchase agreement to sell the team to Chicago businessman Matthew Hulsizer, but four weeks later, neither side has formally announced the agreement. The reason for the holdup in the announcement is unclear.

The deal, according to sources, plans for Hulsizer to be the majority owner and control a 70 percent stake in the club, with Checketts holding nearly 30 percent. The sale price for the package, which includes the Blues, the Scottrade Center lease, the team's top minor-league affiliate and the Peabody Opera House, is about $130 million.
Sources have said that Checketts' investment would be $20 million. If half of the $130 million sale price is financed, which is common, Hulsizer's investment would be $45 million.

Meanwhile, sources say that Stillman, who has been the Blues' minority owner since 2007, appears to be watching and waiting to see what happens with the Hulsizer bid.
Stillman has made at least two offers to buy the Blues, but both were rejected. After he submitted an initial offer of $110 million, sources said the second bid was higher, perhaps as much as $120 million to $130 million.

The addition of Hull would add significant star power to what is already a well-known group of local investors, including former U.S. Sen. Jack Danforth, who is Stillman's father-in-law; Steve Maritz, CEO of Maritz Inc., a sales and marketing services company based in Fenton; Donn Lux, CEO of Luxco, a liquor producer based in St. Louis; and the Taylor family, owners of St. Louis-based Enterprise Holdings, which ranks No. 16 on Forbes' "500 Largest Private Companies in America" with $14.1 billion in revenue.

Hull played 11 seasons with the Blues from 1988-98. He finished as the franchise's all-time leader in goals scored (527) and is second behind Bernie Federko in assists (409) and points (936).

In 1998, Hull signed with the Dallas Stars, for whom he scored the Stanley Cup-clinching goal in 1999. He won his second Cup in 2002 with the Detroit Red Wings before wrapping up his career with Phoenix in 2005. He closed his career with 741 goals, which ranks third in NHL history.

In 2006, the Blues retired Hull's No. 16, making him one of six players in franchise history to receive that honor. In 2009, he was inducted into the Hockey Hall of Fame.
Hull has been involved in the Stars' organization since retiring.


Read more: http://www.stltoday.com/sports/hockey/p ... z1evHK2MeJ

[DaDitka]

The sale price for the package, which includes the Blues, the Scottrade Center lease, the team's top minor-league affiliate and the Peabody Opera House, is about $130 million.

That's a long way form the 190 mill first reported...oh, and actually very close to the price we all predicted four months ago.

I'm actually fine with either group, as both would be fully committed to keeping the team a part of this community for the foreseeable future, but I keep hearing that the league is not comfortable with Hulsizer's finances.

Of course, we've kind of got two forces working against us here. The league and Hulsizer's relationship appears to be a bit on the 'cold' side and it's been speculated that Dave does not want to see Stillman getting controlling interest in the team (for what ever reason). Egos always seem to muck up whats best for both sides often when you'd dealing with such powerful and rich men...oh and Dave Checketts too.

[cprice12]

I'd love to have Hull back in this organization.

Just sayin'.

[cardsfan04]

I was wondering why it was taking so long for the sale to Hulsizer to be finalized. And, I'd love to have Hull back in the organization. It'd be great to have the greatest Blue ever as the owner of the team.

[SteveO]

So the league was all cool with Hulsizer buying the 'Yotes but have apparently soured on him with the Blues?

I just wish this fiasco would get over so we can move on.

(Wasn't Hulsizer consulted on the Hitchcock hiring too??)

[xbleed83bluex]

The sale price for the package, which includes the Blues, the Scottrade Center lease, the team's top minor-league affiliate and the Peabody Opera House, is about $130 million.

Why doesn't everyone on this forum just pull our money together and buy the Blues ourselves?

[philco_3]

The sale price for the package, which includes the Blues, the Scottrade Center lease, the team's top minor-league affiliate and the Peabody Opera House, is about $130 million.

Why doesn't everyone on this forum just pull our money together and buy the Blues ourselves?

My bank would have no problems lending me that money.

[cardsfan04]

The sale price for the package, which includes the Blues, the Scottrade Center lease, the team's top minor-league affiliate and the Peabody Opera House, is about $130 million.

Why doesn't everyone on this forum just pull our money together and buy the Blues ourselves?

My bank would have no problems lending me that money.

Better yet, why don't we start our own bank. I'm sure the fed is good for a few billion. Hell, they lent banks $8 trillion during the debt crisis.

[cprice12]

Wasn't Hulsizer consulted on the Hitchcock hiring too??

They said he was told about it and he gave his blessing.
But surely he wasn't given veto rights on that move as he hadn't bought anything yet (still hasn't).

Can you imagine the bad PR if Hulsizer had vetoed the Hitchcock hiring and then he ended up not buying the Blues? Wow.

[DaDitka]

andystrickland Andy Strickland
Sources..Matt Hulsizer not expected to close this week #NHL #Blues

Looks like the ball is now in Stillman's court. The commish already stated that if Hulsizer didn't close the window before the end of the year, that Stilman would receive exclusive negotiating rights for 75 days I believe.

[kodos]

Oh for ****'s sake...

[thedoc]

I just wish this fiasco would get over so we can move on.

I couldn't agree with you more.

[glen a richter]

this bullshit needs to be solved now so they can get onto the business of running an annual postseason disappointment contender again.

[DaDitka]

All i know is that I personally now have reservations about the Hulsizer idea.

The reports are that the hold-up was between him and the league. This is a guy that has been dealing with the league for over a year now and they seem quite intent on at the very least no making things easy for him. If 29 other wealthy business men don't really want him as part of their group, I imagine they know better then I.

[DaDitka]

Blues' sale talks are in crunch time

By JR

The NHL-imposed deadline for the sale of the Blues to Matthew Hulsizer is less than 48 hours away and it's unlikely, but still possible, that a deal will be completed in time according to multiple sources with knowledge of the process.

"It could go either way," one source said.

Almost two months ago, the league gave Hulsizer until Dec. 31 to finalize the purchase. And despite sources' claims that a closing had been imminent in recent weeks, nothing has materialized. The hang-up appears to be the ability of Hulsizer and Dave Checketts to provide sufficient equity and perhaps secure the necessary bank financing to guarantee the viability of the ownership group.

Hulsizer, who signed a purchase agreement in October, is required to bring $40 million and Checketts $20 million to the closing, and the group is expected to finance as much as $70 million of the $130 million deal, according to sources. Hulsizer would own 70 percent of the Blues, while Checketts would control nearly 30 percent, although Checketts is not expected to remain involved in the hockey operations.

Neither side has commented publicly on the sale process and both have declined recent interview requests.

The question now is how firm is Saturday's deadline and what exactly qualifies as meeting the deadline. Some sources believe Hulsizer would need to have the approval of the league's Board of Governors, a step that could take place via conference call or even by fax, to satisfy the agreement.

A league official declined comment via email this week when asked several questions regarding the sale process, including the enforcement of the deadline.

If Hulsizer fails to meet the deadline, his purchase agreement would be inherited by Blues minority owner Tom Stillman.

Stillman heads a group of local investors that includes his father-in-law, former U.S. Sen. Jack Danforth; Steve Maritz, CEO of Maritz Inc.; Donn Lux, CEO of Luxco; and the Taylor family, owners of St. Louis-based Enterprise Holdings.

The Post-Dispatch reported last month that former Blues player Brett Hull has also inquired about joining Stillman's investment group.

Sources say Stillman's group believes Saturday's deadline is a "hard" deadline and the group will be ready to proceed with the purchase if Hulsizer can't complete a deal.
Stillman, who Checketts has said owns 10 percent of the Blues, has twice had offers rejected by the club and the NHL. The second offer was between $120-$130 million, according to sources.

There are personal incentives for Checketts to sell the Blues to Hulsizer. In addition to his private-equity fund being a 30 percent investor, Checketts would receive $1 million at closing and an additional $650,000 per year in his new contract, according to sources.

Checketts is also close to finalizing talks to become the CEO of Legends, a concessions, merchandising and management-services company owned by the New York Yankees, Dallas Cowboys and Goldman Sachs Group Inc.


Read more: http://www.stltoday.com/sports/hockey/p ... z1i2KIM0Fp

Get this dude out of the way. If they can't come up with enough coin to purchase a team that the current owner claims is operating at break even or a loss, how they hell do they think things will get better? I think Dave is simply trying to cash in while trying to spite Stillman as well. Just take Stillman's money and take your ass back to New York.

[Cavallinis]

The sale price for the package, which includes the Blues, the Scottrade Center lease, the team's top minor-league affiliate and the Peabody Opera House, is about $130 million.

Why doesn't everyone on this forum just pull our money together and buy the Blues ourselves?

$130M/1676 users = $77,565.64 for each of us.

I've got a ten-spot, an envelope, and a stamp to send it. Consider it earnest money. I'm good for the rest, really. Trust me.

All kidding aside, the buyer seems to be getting a lot for the money, at least from my middle-class vantage point. The Blues don't leave many seats empty these days. I admit I know little of what it takes to buy a pro sports franchise, but it seems to me that if you didn't know for sure whether or not you could come up with the cash/resources to close the deal, why get into the game?

[DaDitka]

Hulsizer Out, Stillman In
Andy Strickland | TrueHockey.com | Archive | Contact JAN
3
Multiple sources Confirm Chicago Businessman Matt Hulsizer's purchase agreement to buy the St. Louis Blues has been terminated.

The NHL now focuses their attention on Blues Minority Owner Tom Stillman who sources say will begin the process of negotiating a purchase agreement with Blues Chairman Dave Checketts immediately.

The framework for the agreement is already completed as Stillman is expected to negotiate one nearly identical to Hulsizer's. One obvious omission will be Checketts having no role with the franchise moving forward. Under the Hulsizer agreement Checketts would have kept approximately 25-30 percent of the Blues.

Hulsizer was given a December 31st deadline to complete the sale following a recent meeting involving Stillman and Checketts in which NHL Commissioner Gary Bettman served as the mediator.

Sources close to Hulsizer say he was unable to come to terms on multiple league agreements required by the NHL. The same source indicates Hulsizer remains interested, in the event Stillman is unable to close, which is targeted forin mid-March.

Hulsizer indicates he will not turn his attention to any other NHL teams currently looking for a buyer. "It's the St. Louis Blues or nothing" according to a source close to Hulsizer.

More to come after the game,

Andy Strickland

Strickland.Andy@gmail.com

[glen a richter]

Jesus Mary and Joseph when will this mess end?

[DaDitka]

Jesus Mary and Joseph when will this mess end?

Everything I read says now. As long as Stillman will come close to the same numbers......the note is due and the lenders are leaning on Dave.

[cprice12]

Part of me is sad because Hulsizer talked a good game about spending money and there were less hands in the ownership pot.
But part of me is happy with Stillman because Hull is a potential part-owner. Having him back in the fold here would be awesome...and where he belongs...if he joins the group. But I am not a fan of the seemingly 15 different members of the ownership group...too many hands in the pot...too many people to get approval from for adding payroll and whatnot.

Whatever...
Wake me up when it's officially signed, done and official. This roller coaster ride sucks.