Checketts owns 20 percent of the team and said he got financing to buy TowerBrook Capital Partners LP’s 70 percent stake, although the sides couldn’t settle on a price, the newspaper said.
“I’ve been unable to make a deal with them,” Checketts, who owns investment company SCP Worldwide, told the newspaper. “As a result, I’ve got to turn from being a buyer to a seller.”
Game Plan LLC has been hired to sell the team and the lease for the Scottrade Center, the newspaper said. TowerBrook backs the sale, the report said.
The team, last in the Western Conference’s five-team Central Division, was valued at $165 million in December by Forbes magazine, with revenue of $79 million and an operating loss of $6.2 million.
Checketts, who bought his stake in 2006, didn’t return voice mails left at his home and at his office after hours.
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