Blues new ownership group in place

Blues new ownership group in place

Credit: Getty Images

(Photo by Thearon W. Henderson/Getty Images)

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by Andrew Allsman, HockeyStL

KMOV.com

Posted on May 7, 2012 at 6:40 PM

Updated Thursday, Oct 17 at 2:58 PM

(HockeyStL) -- The hunt for a new owner for the St. Louis Blues is now complete. Former Blues minority owner Tom Stillman has finalized a deal with the NHL for the purchase of the St. Louis Blues, their AHL affiliate the Peoria Rivermen, and a significant share of The Peabody Opera House. The purchase price is expected to be approximately $130 million.

The search for a new owner has been ongoing for two years, ever since Dave Checketts was forced to put the Blues on the market after TowerBrook Capital Partners divested its stake in the team. Checketts looked for other investors to support the team, but did so unsuccessfully forcing him to sell his and SCP Worldwide’s shares of the team.

Tom Stillman expressed interest in purchasing the team from the get go, and after several failed attempts, has finally succeeded.

Stillman, a lifelong hockey fan, is the chairman and CEO of the St. Louis beer distributing company: Summit Distributing. He has been a Blues’ minority owner since 2007.

Stillman has been working diligently the past few months to finalize a deal after the NHL terminated prospective buyer Matthew Hulsizer’s purchase agreement.

According to Jeremy Rutherford of the Post Dispatch, Tom Stillman’s group includes several local investors including the Taylor family, owners of Enterprise Rent-A-Car; Don Lux, CEO of Luxco; and Stillman’s father-in-law John Danforth.

The sale will be voted on by the NHL’s Board of Governors on Tuesday, and barring any unseen complications, will close on Wednesday.

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