The NHL’s Board of Governors unanimously approved a bid by a group of St. Louis investors led by Tom Stillman. The closing of the sale takes place on Wednesday and the the announcement should be made official in a press conference on Thursday.
Stillman is a minority owner of the Blues and has been since 2007. Stillman’s group will become the eighth owner of the Blues since the franchise’s inception, following Dave Checketts/SCP Worldwide (2006-present), Bill Laurie (1999-2006), Kiel Center Partners (1991-1999), Mike Shanahan (1986-1991), Harry Ornest (1983-1986), Ralston Purina (1977-1983) and the Salomon family (1966-1977).
Stillman is CEO of Summit Distributing in St. Louis, and will pay an estimated $130 million for the Blues, the Peoria Rivermen of the American Hockey League and ‘significant interest” in the Peabody Opera House. Forbes values the Blues at $157 million, 27th among 30 NHL teams. The team was purchased in 2006 by Dave Checketts for $150 million.