Skip to main content

NHL approves sales of Dallas Stars to Vancouver businessman Tom Gaglardi

NEW YORK CITY, - Tom Gaglardi, the Vancouver businessman who once wanted to purchase the NHL Canucks, is the new owner of the Dallas Stars.

The NHL board of governors announced Friday the sale has been completed. That came after a U.S. Bankruptcy Court in Delaware approved the deal.

A spokesman for Gaglardi said he won't comment on the sale. It's estimated he bid US$265 million for the Stars. Heading into Friday night, Dallas had a record of 11-6-0.

Gaglardi is president of Northland Properties Corp., which owns and operates businesses like Sandman Hotels, Denny's Restaurants and Moxie's Restaurants.

He also leads the ownership group of the Kamloops Blazers of the Western Hockey League.

Gaglardi's mother is from Longview, Texas.

According to court documents the Stars lost US$37.9 million last year and US$91.5 million the last three seasons. Projected losses for this year are over US$30 million.

In November of 2003 Gaglardi was part of a group along with Ryan Beedie and Francesco Aquilini that were interested in purchasing the Canucks.

Aquilini left the group and eventually purchased the franchise in 2004. That resulted in Gaglardi and Beedie filing a lawsuit against Aquilini, saying he had gone behind their back.

The courts ruled in Aquilini's favour.

TOP HEADLINES

Mark Giordano

Giordano's Impact Not Ignored by Maple Leafs

Giordano isn’t at the peak he was at when he won the James Norris Trophy in 2019, but his importance to Toronto's blueline – aided by a very cap-friendly deal – is notable for a variety of reasons.

2022 IIHF World Championship
Play

Men's World Championship Roundup: GB, Italy Relegated; Denmark Wins Major Upset

Italy and Great Britain have been relegated from the men's World Hockey Championship, while Denmark pulled off a historic upset over Canada and Czechia shut out USA with one day remaining in round-robin play.

USATSI_18305450

The Lightning are Beating the Panthers at their Own Game

The Florida Panthers won a Presidents' Trophy thanks to their offensive depth. Now, the Tampa Bay Lightning have turned it against them at the worst possible time.