St. Louis Blues up for sale

St. Louis Blues up for sale

Credit: AP

FILE -- This is a Jan. 19, 2008, file photo showing St. Louis Blues Owner Dave Checketts stocking up on hot dogs to hand out to fans as part of the second annual free food day before an NHL game against the Nashville Predators, in St. Louis. Published and broadcast reports say radio personality Rush Limbaugh and St. Louis Blues owner Dave Checketts are joining together in a bid to purchase the St. Louis Rams. (AP Photo/Tom Gannam, File)

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The Associated Press

Posted on March 16, 2011 at 6:58 PM

Updated Wednesday, Mar 16 at 6:58 PM

ST. LOUIS (AP) -- The St. Louis Blues are for sale.

Team chairman Dave Checketts said Wednesday night that his group, Sports Capital Partners Worldwide, and Towerbrook Capital Partners have placed the NHL franchise and the Scottrade Center on the market.

The two groups own roughly 90 percent of the franchise.

Checketts and SCP Worldwide own about 20 percent of the team, while Towerbrook Partners, a private equity firm, owns 70 percent. The other 10 percent belongs to minority owner Tom Stillman, chairman and CEO of Summit Distributing, a St. Louis-based beer distributor.

Checketts, whose investment firm also owns Utah's Real Salt Lake Major League Soccer team and the American Hockey League's Peoria Rivermen, bought the Blues in March 2006 from Bill and Nancy Laurie.

Checketts, who placed at least a pair of deadlines on the table regarding purchasing majority ownership, cited a difference in terms with TowerBrook on what the value of the franchise is. Boston-based Game Plan LLC has been brought in to conduct a search for a new owner.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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