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Economic Sluggishness Impacting Eagerness Of Prospective St. Louis Blues Buyers

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In what could be filed away in the "no duh" category of news, the economic uncertainty following the debt downgrade and the stock market's roller-coaster ride might be making investors a bit hesitant about plunking down cash. Specifically, it is making them hesitant to plunk down the $120 million required to cover the bank debt on the team, according to the Globe and Mail.

Does this mean that the team won't get sold? Of course not. Estimates are still on for a deal to be completed to sell the team to someone - anyone - by the start of or slightly after the start of this season. It just means that it'll take a bit longer, or possibly a bit more bargaining, to get the deal done. In a market where any big purchase is a Herculean effort, selling a house is next to impossible. Selling two hockey teams, leasing rights, and an opera house isn't going to be a walk in the park. What is separating the Blues from the rest of the pack is that there is no municipal drama (Phoenix) no impending threats of bankruptcy (Dallas), and a ton of interested buyers who can legitimately afford the team (Atlanta). The struggles to sell might sound like a bad thing, but out of the teams for sale, the Blues are possibly in the best position to be sold.

 

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