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The Blues sale is finally complete!

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Old
04-10-2012, 12:22 PM
  #676
jimmykay
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Quote:
Originally Posted by kimzey59 View Post
More likely you're talking a specific number of games rather than a set number of rounds.
You're probably talking 1.5-2 mil in revenue per PO home game, meaning 5-6 home games would get us over the ~9 mil in losses we've had the last few years. That could be done in as little as 2 rounds. Checkett's already paid off almost all of the Franchise's debt, so anything over that 9 mil mark would be straight profit.

Say what you will about Checkett's dragging out the sale, but he did a heck of a lot for this team in terms of putting us on solid footing(both financially and in terms of talent) going forward.
I was under the impression that getting into the black meant this year only. I wasn't thinking about it as a total of the losses since they took ownership. If that is the case, then yes. Making it a few rounds deep into the playoffs every 5 years or so is a much more reasonable way to balance out finances. I initially thought that they meant that we needed a few playoff rounds to just break even for that year. thats why i said it was a terrible way to run a business.

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04-10-2012, 02:27 PM
  #677
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Originally Posted by Crumblin Erb Brooks View Post
Its completely legal, and it will likely be taken into consideration when determining the final sale price. Stillman isnt stupid, he knows it is a revenue stream that he wont have any control over for a decade.

It does make you wonder how close Checketts was to bankruptcy if he had to do something like this. It probably meant that he was incredibly low on liquid assets.
The big fall out that I see is that now the new owners can't dictate prices and benefit from them. Whoever made that deal has all the power and ticket prices will have to reflect it if they decide to increase concession prices even more.

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04-10-2012, 05:44 PM
  #678
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Quote:
Originally Posted by jimmykay View Post
I was under the impression that getting into the black meant this year only. I wasn't thinking about it as a total of the losses since they took ownership. If that is the case, then yes. Making it a few rounds deep into the playoffs every 5 years or so is a much more reasonable way to balance out finances. I initially thought that they meant that we needed a few playoff rounds to just break even for that year. thats why i said it was a terrible way to run a business.
We're pretty well on the same page.
What I think you're forgetting is that when Checkett's bought the team, he also purchased 6 years worth of debt from Bill Laurie(easily over 200 mil in total) which he could have easily let build up even more. One of Checkett's first moves when he took over was to pay off that debt and get the books balanced. We've been spending over our budget the last 2 years; but we don't have that massive debt cloud over our heads anymore, meaning each year's finances affect only that year.

As I said, say what you will about him dragging on the sale process but he deserves all kinds of credit for clearing off that debt for us.

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04-10-2012, 09:20 PM
  #679
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Every time I see a new post in this thread, I get a little excited. And then I come in and there's no update

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04-11-2012, 09:07 AM
  #680
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Kimzey, your latest take is a head scratcher. How did Checketts pay down debt and balance the books when the Blues have lost money every year? How much is the note he defaulted on?

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04-11-2012, 11:10 AM
  #681
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Originally Posted by The Inglorious One View Post
Every time I see a new post in this thread, I get a little excited. And then I come in and there's no update
I do the same thing.

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Old
04-19-2012, 06:58 PM
  #682
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Any progress? I haven't heard anything in weeks.

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04-20-2012, 04:50 PM
  #683
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Quote:
NEW YORK • NHL commissioner Gary Bettman said Friday that the sale of the Blues to club minority owner Tom Stillman could be completed "soon."

Bettman said he met with Stillman recently and when the "lawyers are done doing their things," the process will move forward.

The next, and final step, will be for Stillman to meet with the NHL Board of Governors for final approval.

Bettman spoke to the Post-Dispatch at a New York meeting of sports editors with commissioners of the four major sports.
Read more: http://www.stltoday.com/sports/hocke...#ixzz1scF3zh3C

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04-20-2012, 05:29 PM
  #684
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Hurry up and finalize that thing before the Finals, so you can get your name on the Cup!

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04-20-2012, 05:40 PM
  #685
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I was ready to tell everyone to stop posting in this thread until there is some actual news. But this is great news!

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04-20-2012, 05:41 PM
  #686
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What what the new budget will be

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04-20-2012, 05:53 PM
  #687
CarvinSigX
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Thank you! I really love that it's a bunch of St. Louis owners that will actually care about the team. As long as they don't get rid of Army, I'm all in with them.

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04-20-2012, 07:23 PM
  #688
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Quote:
Originally Posted by jimmykay View Post
I was ready to tell everyone to stop posting in this thread until there is some actual news. But this is great news!
New news? Not really. Bettman said "if" Not "when"

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04-24-2012, 09:21 PM
  #689
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Andy Strickland
Source close to #stlblues sale says a few last-min adjustments to legal docs which are normal as closing approaches are taking place.

Andy Strickland
May still be a few days before we hear of a closing date...these last-minute refinements are typical as closing approaches #stlblues

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Old
04-24-2012, 09:26 PM
  #690
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Has any other sports franchised been sold while they were participating in the post-season?

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04-24-2012, 09:26 PM
  #691
bleedblue1223
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Great news, but I'm more interested in what our budget will be.

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Old
05-01-2012, 08:45 PM
  #692
Guy Legend
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Looks like it's anytime now...

Quote:
Sale of St. Louis Blues nears completion

The sale of the St. Louis Blues to a group headed by minority owner Tom Stillman is finally ready to be announced.

According to an NHL source, Stillman has his financing and legal work in place and is just waiting for the right moment – probably when the Blues are finished in the NHL playoffs – to make the announcement. The final step will be the stamp of approval from the league’s board of governors, although that is not going to be a problem since Stillman is NHL commissioner Gary Bettman’s preferred buyer.
http://www.theglobeandmail.com/sport...rticle2419343/

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Old
05-01-2012, 11:13 PM
  #693
BigB
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Good to hear and see... now open your wallets st louis and stack us well

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05-01-2012, 11:34 PM
  #694
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Good to get the sale done and have a fresh start in October.

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Old
05-02-2012, 10:48 AM
  #695
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Great news. Will be nice to have this cloud cleared away from our team.

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Old
05-02-2012, 12:29 PM
  #696
jimmykay
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This is the best thing i've heard since the 3rd period buzzer Monday night.

I'll do what I can to support this ownership group, but I don't know if my liver can take it supporting all of these beer and liquor distributors.

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Old
05-02-2012, 02:12 PM
  #697
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You guys think they will start selling Schlafely's in the stadium now?

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05-02-2012, 04:14 PM
  #698
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Tom Schlafly distanced himself from the whackadoodles and his aunt's Moral Majority craziness. Otherwise, I'd tell him to go drown in a vat of fermented mash.

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05-03-2012, 06:18 PM
  #699
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Quote:
Originally Posted by ChicagoBlues View Post
I'd also rather have local owners, but Stillman is not the right fit unless he can partner with someone with money.

If Stillman can't come up with $160m minimum, then he won't be able to take the Blues to the next level.
He has since partnered with real money. Tom Stillman has done a great job to assemble a workable group of investors.

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05-03-2012, 11:33 PM
  #700
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Now to sign Zach Parise and Shea Weber in the offseason!

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