Court Approves Sale of NHL's Dallas Stars and American Airlines Center to Tom Gaglardi
Deal Announcement
18 November 2011
Dallas, Texas, 18 November 2011 – The US Federal Bankruptcy Court in Delaware today approved the sale of the National Hockey League's Dallas Stars franchise and 50% interest in the American Airlines Center (Dallas) to Baker & McKenzie client Tom Gaglardi.
"Tom loves hockey and loves the Dallas Stars," said Mr. Gaglardi's attorney David Parham in an interview after the hearing. "This is a great day for hockey in Dallas."
"Dallas hockey fans have been waiting a long time for today," said veteran sports dealmaker Jim Rossiter who led Mr. Gaglardi's acquisition team. "The excitement on the ground of having a new owner who knows and loves the sport is palpable."
Mr. Gaglardi is owner and President of Northland Properties, a leader in the Canadian hospitality business with a stable of well-known Canadian brands including Sandman Hotels, Moxie’s Restaurants, Chop Steakhouse, Denny’s Restaurants and Shark Club. Mr. Gaglardi is also controlling owner of the Kamloops Blazers of the Western Hockey League.
In addition to Mr. Rossiter (M&A – Toronto) and Mr. Parham (Bankruptcy – Dallas), the Baker & McKenzie team included Kevin Maher (M&A - Dallas), Ata Dinlenc (Banking & Finance - New York), Dick Lipton (Federal Tax - Chicago), Brook Mestre (M&A - Dallas), Christopher Besant (Corporate & Finance – Toronto), Olumide Owoo (Banking & Finance - New York) and Jeff Slade (State Tax - Dallas).
Baker & McKenzie congratulates Mr. Gaglardi and wish him and the Dallas Stars every success.