Dallas Stars Get Approval to Sell Hockey Team to Gaglardi

The Dallas Stars, the bankrupt National Hockey League team, won court approval to sell itself to hotelier Tom Gaglardi for about $50 million in cash and $100 million in new debt.

U.S. Bankruptcy Judge Peter Walsh said today at a hearing in Wilmington, Delaware, that he will approve the sale as part of the Stars’ prepackaged restructuring plan. The plan was negotiated with creditors before the hockey team sought bankruptcy protection about two months ago.