The St. Louis Blues announced Wednesday that Blues Chairman and Governor Tom Stillman and his local ownership group has purchased the remaining outside stake in the team.
Stillman’s ownership group acquired the minority interest that Sports Capital Holdings LLC (SCH), the holding company of the previous Blues ownership group, still held. Terms of the transaction were not disclosed. The deal represents SCH’s full exit from the Blues, meaning Stillman’s group now owns 100% of the team.
The National Hockey League approved the purchase Wednesday at its Board of Governors meeting. The Blues said Wednesday that the current ownership group’s membership will remain the same, with Stillman to continue as the team’s chairman and governor.
“I think having an all local group ensures that the direction of the club is set with St. Louis top of mind, and with an understanding of what’s important to St. Louis and to St. Louis Blues fans," Stillman said Wednesday. "As I’ve said before, several members of our ownership were motivated at least as much by doing something good for St. Louis as they were for owning a piece of a hockey. I think maintaining it all within this local family helps ensure that we maintain those values.”
Stillman’s ownership group purchased the Blues in 2012 from SCH, which was led by former Blues President Dave Checketts and backed by private equity firm TowerBrook Capital Partners. Checketts' group had ownership of the Blues from 2006 to 2012, purchasing the team from Bill and Nancy Laurie.