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NHL’s St. Louis Blues Are Sold to Group Led by Tom Stillman

May 9 (Bloomberg) -- The National Hockey League’s Board of Governors approved the sale of the St. Louis Blues to a group led by Tom Stillman, the chairman and chief executive of St. Louis-based beer distributor Summit Distributing.

Terms of the sale weren’t disclosed in an NHL statement.

The St. Louis Post-Dispatch said Stillman, who has been a minority owner of the Blues since 2007, heads a group of local investors who will pay about $130 million for the Blues, the American Hockey League’s Peoria Rivermen and a significant interest in the Peabody Opera House.

The Blues, who were swept by the Los Angeles Kings in the second round of the playoffs, had an estimated value of $157 million, 27th out of the league’s 30 teams, according to Forbes’ 2011 franchise valuations.

The Blues were sold in 2006 for $150 million to a group led by Dave Checketts, the former president of New York’s Madison Square Garden. Checketts now runs Legends Hospitality Management LLC, the concessions, merchandising and management-services company owned by the New York Yankees, Dallas Cowboys and Goldman Sachs Group Inc.

To contact the reporter on this story: Erik Matuszewski in New York at matuszewski@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net

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