The St. Louis Blues’ largest investor after the purchase by the Checketts Group, TowerBrook, has decided to sell its share in the team. According to the News-Democrat’s Norm Sanders, this absolutely does not mean that the Blues are for sale, or will be moved, or will face a Phoenix style donnybrook every time there’s a full moon. We’re fine. What it does mean, however, is that the team is going to need some financial advice as to how to proceed and how to acquire investors to replace TowerBrook.
TowerBrook is an equities firm, and apparently it was expected that this day would come, which is why they are remaining as an investor for the time being until a smooth transition can take place – this is not an emergency sell off, and TowerBrook would rather not hurt the team for personal gain (novel concept). There is no timetable yet for finding a new investor, which basically says “Keep Calm and Carry On.”
“Dave Checketts and SCP Worldwide have done a remarkable job of restoring the pride and passion of the St. Louis Blues. We joined this investment group because of the many past investment successes we have had with Dave. We knew that he, along with his partners, would help revive this franchise and they have delivered since day one. It now sits on a very solid foundation, one that we have been very proud to help rebuild.”
More will be posted here as it is learned – stay tuned, but don’t go shopping for homes in Hamilton just yet. Or, well, ever.