Sale of Texas Stars to Northland Properties to be finalized this week

The sale of the Texas Stars from Hicks Cedar Park LLC to Northland Properties, the parent holding company of the Dallas Stars, is expected to be finalized this week.

“The timing of your question is pretty good,” AHL president and CEO Dave Andrews said in a phone interview Monday morning when asked about the sale. “There’s likely going to be an announcement soon.”

Officials from both the Texas Stars and Dallas Stars declined to comment Monday before the deal was officially closed.

Purchasing the minor-league hockey franchise has been part of Tom Gaglardi and Northland Properties’ long-term plan since acquiring the NHL club from Hicks Sports Group in 2011.

Hicks Cedar Park LLC is an offshoot of the Hicks Sports Group, and the deal would also include operation and management of the Cedar Park Center, which is owned by the City of Cedar Park. The Cedar Park City Council approved of the sale to Northland Properties in a meeting on Dec. 11.

The agreement will also reportedly add 10 years to the Texas Stars current lease of the Cedar Park Center, essentially guaranteeing at least 15 more years of minor league hockey in Central Texas.

The timing of the sale also allows ample time for Texas’ re-branding effort to victory green before next season. Something Jim Lites said would happen when the intention to purchase was announced.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s