ST. LOUIS — David Steward, founder and chairman of Maryland Heights-based World Wide Technology, has departed the St. Louis Blues’ ownership group.
Blues’ Chairman Tom Stillman said Thursday in a news release that Steward has transferred his partial ownership stake in the National Hockey League franchise to Michael Riney, founder and managing director of investment firm QRM Capital.
Financial terms of the transaction were not disclosed. Steward was believed to have an ownership stake of less than 5% in the Blues, according to sources close to the league.
Steward was a member of the local ownership group that purchased a majority stake in the Blues in 2012 from Sports Capital Holdings LLC. That group in 2019 acquired the remaining minority stake from Sports Capital Holdings.
“Dave Steward was a key member of the St. Louis-based ownership group that we assembled in 2012,” said Stillman in Thursday's release. “His support has been steadfast ever since, and we are grateful for Dave’s commitment to the Blues and to St. Louis.”
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