St. Louis Blues Chairman Tom Stillman announced today that Sports Capital Holdings (St. Louis) LLC (“SCH”), which has held a minority interest in the Blues since 2012, will soon market that interest for sale. SCH is the holding company of the previous Blues ownership group (which was in place from 2006 to 2012).
A sale of this minority stake will result in a complete exit of SCH and the Blues’ former majority owners from any interest in the Blues, as contemplated in the original acquisition by the current, Stillman-led ownership group. The current ownership group will remain in place, with Stillman, as Chairman and Governor, retaining control of the Blues.
Stillman’s ownership group purchased the Blues from the previous group in May 2012. In that transaction, the previous group received a continuing minority interest in the franchise. The 2012 agreements contemplated a sale of that interest at a point in the future, and today’s announcement grew out of those agreements.
“It is important to understand that the Blues are not for sale,” said Stillman. “Only a minority interest in the club will be sold, and the new investors will become part of our ownership group. Control of the Blues will remain in local hands, and it will be business as usual, both on and off the ice. We are committed to finding investors who share our passion for the Blues, for our community, and for bringing a Stanley Cup to St. Louis.”
Stillman and Blues management will work jointly with SCH on the sales effort. Galatioto Sports Partners will serve as financial advisor. Any sale will require the approval of the Blues and the National Hockey League.