Saturday, October 29, 2011

Hulsizer signs purchase agreement to buy Blues

Chicago businessman would get
majority stake to become team's new owner

By LOUIE KORAC
ST. LOUIS -- The sale of the St. Louis Blues appears to be heading into the home stretch.

It has been learned that Matthew Hulsizer has signed a purchase agreement to buy the Blues, which also includes the lease to Scottrade Center, the American Hockey League's Peoria Rivermen and also Peabody Opera House, according to multiple sources.

The agreement still needs league approval but that would not be an issue since Hulziser, the co-founder and CEO of PEAK6 Investments, had already received league approval to purchase the Phoenix Coyotes in 2010.

Its unknown the purchase percentage Hulsizer would buy from current owner Dave Checketts but its expected to be a majority stake.

Sources indicated previously that the price range is in the neighborhood of $190 million.

Checketts, who is the chairman of SCP Worldwide, officially put the Blues up for sale in March when the principal investment group, TowerBrook Capital Partners, decided to divest its 70 percent ownership interest in the franchise. Checketts' group owns 20 percent of the team while minority owner Tom Stillman, who is chairman and CEO of Summit Distributing, Inc., owns 10 percent of the club.

Checketts and TowerBrook bought the Blues from Bill and Nancy Laurie for a price tag in the neighborhood of $153 million in 2006.

Hulsizer's bio: (http://www.peak6.com/leaders/founders/matthew-hulsizer/).

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