TSN report Stars filing for bankruptcy today.....

Of course this means the Stars are a failure and should be relocated and no one cares about the teams blablabla....or so the comments would have you believe.

Why this is a surprise to anyone makes me wonder how many people really follow hockey outside of their own team as the number of assumptions make me laugh.

The fact is this is the news Stars fans have been waiting for. For anyone who has been following this whole mess that Tom Hicks created (that's right Tom Hicks, not the lack of fans) then they will know that the sale process was always going to involve filing for bankruptcy. Tom Hicks defaulted on millions of dollars in loans well over a year ago. This is merely the next step in Gaglardi's offer. Bankruptcy proceedings simply mean the process is being moved forward.

I saw some comments on TSN mention that even though the Stars won a cup and have been one of the more competitive teams of the last 10-15 years this proves they are a failure. This short sightedness seems to forget that during a lot of that time the Stars were among the top ten of the league in terms of revenue. Hicks messed up in part because of the market crash and this has had a knock on effect. The lack of attendance in the last couple of years is also an effect of the recent recession and a case of many fans feeling like they don't want to give their money to the mess that Hicks created.

I am very hopeful that once this sale has been processed and Gaglardi has had some time to sort out this whole thing that the Stars will return to being a profitable franchise and will prove the naysayers wrong. Sure we will never be on the level of the Leafs, Habs, Wings and Rangers etc but to lump the Stars in the same group as the Coyotes, Panthers and Islanders simply because the word bankruptcy has been mentioned is a joke.

At least some of the people who commented on there understand what is going on it is just a shame that it is the people who don't know what they are talking about have the loudest voices. /rant.

I never listen to a word that comes out of fan boys mouths on the tsn boards. Most of them couldnt spot a bust in hooters let alone in hockey.

Anyways, congratulations on your bankruptcy

Ha true enough Buff. It just frustrates me but still I am happy things are finally moving forward. I hate the fact the team is going through this but I hate the fact its taken this long even more. I used to like Hicks but his business decisions, not only for the Stars but for the others as well, have screwed over a lot of people.

Sounds like Liverpool FC have had a lucky escape!

Congrats on things moving forwards mate - trust a Vancouver businessman to bail you out

I hear the city of Atlanta are looking for a new franchise. Third time's a charm!

http://stars.nhl.com/club/news.htm?id=588526&navid=DL|DAL|home

Finally!

For anyone who may be interested (don't expect there are many! ) here is an excellent breakdown on the sale by Brandon Worley of Defending Big D.

http://www.defendingbigd.com/2011/9/16/2429078/dallas-stars-sale-bankruptcy-details-tom-gaglardi-chuck-greenberg-plan-bankrupcty

He has gone through all the documents in pain staking detail and spelled out exactly what this bankruptcy hearing has in store and the processes for any further bids.

Oh and may I point out....

**The plan specifically states that that the purpose of the sale is "to allow for a transition in ownership of the NHL Stars, while ensuring that the team continues to play professional ice hockey at the AAC in Dallas.

http://espn.go.com/blog/dallas/stars/post/_/id/12458/court-approves-bidding-procedures-for-stars

Next step completed. Two month countdown now begins