NHL Board of Governors OKs sale of St. Louis Blues
The NHL Board of Governors has approved the sale of the St.
Louis Blues to a group headed by St. Louis beer distributor Tom
Stillman, the league announced Wednesday.
The sale price was not disclosed, but is believed to be about
The Stillman group will become the eighth owner of the Blues
since the franchise came into existence in 1966. The group is
buying the team from a group headed by Dave Checketts and his
Sports Capital Partners Worldwide.
Stillman is chairman and chief executive officer of Summit
Distributing in St. Louis and has owned a minority share in the
Blues since 2007.
Spokesmen for the Blues and the NHL declined comment beyond a
one-sentence news release from the league announcing approval of
the sale. A news conference is expected on Thursday in St. Louis
and may include NHL Commissioner Gary Bettman.
Other members of the group have not been announced. The $130
million price is well below the $157 million that Forbes had valued
the Blues in December, which was 27th among the 30 NHL teams
according to the magazine. It is also less than the $150 million
price that the team sold for in 2006.
Stillman’s group is getting what appears to be one of the
up-and-coming teams in the NHL. After nearly a decade of struggles,
the youthful Blues had the second-best record in the Western
Conference this past season. They advanced to the second round of
the playoffs before being swept by the Los Angeles Kings in four
games in a series that ended Sunday.
Checketts announced two years ago that the team was going up for
sale. Checketts and his group owned 20 percent of the team,
Towerbrook Capital Partners owned 70 percent and Stillman 10
Checketts, whose investment company also owns Real Salt Lake of
Major League Soccer, had tried for months to put together a group
of local investors to buy out Towerbrook but couldn’t come to an