Vancouver businessman Tom Gaglardi, president of Northland Properties Corp., has signed an agreement to buy the Dallas Stars National Hockey League Club.
The club’s current owner, Dallas Stars, L.P., announced the deal yesterday.
To facilitate the sale, L.P. has filed a voluntary Chapter 11 bankruptcy application in the United States Bankruptcy Court. The sale is expected to be finalized in 60 to 75 days.
Gaglardi, who could not be reached for comment by press deadline, previously attempted to acquire the Vancouver Canucks, together with Beedie Group president Ryan Beedie and Francesco Aquilini, managing director of Aquilini Investment Group Inc. and, as of 2004, Canucks owner.
After Aquilini acquired the franchise, Gaglardi and Beedie sued him for allegedly double-crossing them and using inside tactics to scoop the team. The B.C. Supreme Court and Supreme Court of Canada affirmed Aquilini’s ownership of the team. (See “Aquilini’s empire” – Business in Vancouver, issue 1057; January 26 – February 1, 2010.)
Jenny Wagler
Twitter: JennyWagler_BIV