Andy Strickland reported on Friday that Chicago Businessman Matthew Hulsizer has signed a purchase agreement to buy the Blues.
Matthew Hulsizer is well known for his attempts to purchase the Phoenix Coyotes less than a year ago. Hulsizer turned his back on Phoenix when he got tired of the political scene. It was said that Hulsizer still wanted to buy and NHL team, but the question was which one?
Hulsizer was speculated to have interest in the Blues, but nothing was really confirmed (Did submit offer later that was rejected).
Blues fans were very concerned with the sale, because there was nobody that seemed to really "stand out" as wanting to purchase the Blues.
This news took me by surprise, because it came out of nowhere. Blues fans had been waiting for weeks without any "new info" about the sale, and it seemed to be at a standstill, so this news was really big.
There was controversy about whether or not a verbal agreement had been reached, but it was later confirmed.
Then on Friday a purchase agreement was finally reached.......
Details
It was reported Hulsizer was looking for investors before he reached the purchase agreement, so it is my view that he must have found some. When Hulsizer was looking to buy Phoenix, it was said that he was able to pay most of the $160 million for the Coyotes himself, so he must have a large amount of money and is willing to spend it. Andy Strickland expects the Blues' price tag to be in the $175-$180 million range, but it is not confirmed yet.
Meet Hulsizer
Matthew Hulsizer is currently the co-founder and CEO of Peak6 investment which is a money management firm, but he has an interesting background with the sport of hockey. Hulsizer grew up in New Jersey and considered himself a hockey fan. Hulsizer played division 3 hockey at Amherst College and is a registered USA hockey coach in Winnetka Illinois. Hulsizer is the perfect owner in my opinion because of his knowledge and love for hockey.
Final Thoughts
Though there is no timetable as to when the deal will be complete, I would expect it to be a fluid process from this point on. Now that Hulsizer has reached an agreement with the Blues he will have to be approved by the board of governors which may just be a formality considering he went through this process in Phoenix. Obviously the deal is not 100% complete, but unless something changes drastically, Hulsizer will be the new owner of the Blues.
Good or Bad?
I really like the idea of having someone that not only has the financial support to make changes, but also contains knowledge of the game and what needs to be done to win. I am really fascinated that Hulsizer chose the Blues.
Final Thoughts
Though there is no timetable as to when the deal will be complete, I would expect it to be a fluid process from this point on. Now that Hulsizer has reached an agreement with the Blues he will have to be approved by the board of governors which may just be a formality considering he went through this process in Phoenix. Obviously the deal is not 100% complete, but unless something changes drastically, Hulsizer will be the new owner of the Blues.
Good or Bad?
I really like the idea of having someone that not only has the financial support to make changes, but also contains knowledge of the game and what needs to be done to win. I am really fascinated that Hulsizer chose the Blues.