St. Louis Blues expect new ownership by the start of the new season

7/27/11 in NHL   |   GabrielGray   |   44 respect

The St. Louis Blues are expected to be under new ownership by the start of the new season, with current owner David Checketts putting the NHL Franchise for sale before the start of the new season.

There are, however, no solid offers for the club yet and many of the offers put forward are not of the right price, according to the club Chairperson.  The franchise has been put up for sale for nearly three months, but Checketts believes that he would be able to sell-off the club by the start of the new season in October.

"We expect to have something done by the start of the season. ... We expect to have an orderly sale process. It'll be done by the start of the season," stated the chairman while talking to reporters.

 

The major risks associated while transferring a club to a new owner are the changes and management style of the new bosses. Dallas Stars are yet to be stable following their sell-out and have already lost top player Brad Richards, owing to the disruptive changes.  However, owners of St. Louis want to have the transition similar to that of Buffalo Sabres.

The worth of the club according the Forbes Magazine is $165 million, which is just $10 million more than what David Checketts paid for the club back in 2006. However, keeping in mind all of the club’s assets, including their agreement to lease Scottrade Centre and their American Hockey League club Peoria, it is believed that the club is worth over $200 Million.

Putting the club up for sale has raised a lot of eye brows, as to why the current owners want to sell the business off. Since the takeover, the club has not made significant progress and has never made it into the playoffs. The selling of the club would therefore be seen as a negative by the fans and that the future of the club seems unstable.

The owner, however, reiterated the confidence of the fans, stating the team is strong and solid.

"If fans had a reason to be worried, it would be we hadn't signed T.J. (Oshie), we did nothing at the free agent (signing period). That would be a cause of concern. We went out and kept our whole team together. The young talent is back. I think we're solid everywhere,” stated the owner of the franchise.

Despite finishing off in the bottom half of the Western Conference last season, the side was still better than the likes of Colorado Avalanche, Columbus Blue Jackets, and Edmonton Oilers among others.

It would be a highly pessimist approach to believe that having a new owner would take the Blues down but the current owners should ensure that a situation like Buffalo should’nt be repeated. Since the arrival of billionaire owner Terry Pegula at the club, the side has not been stable and has gone downhill.  

 

Notify me by email about comments that follow mine. Preview

7/27/11   |   Scott   |   52615 respect

 I'll believe it when I see it.  Checketts told Blues fans last year on more then one occasion there would be new ownership and we are almost 8 months into the new year and nothing.  Because of that, the Blues are limited in what they can do in terms of free agency