Dallas Stars sold to Canadian businessman

Dallas Stars sold to Canadian businessman

Dallas Stars sold to Canadian businessman

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Associated Press

Posted on November 18, 2011 at 5:57 PM

Updated Friday, Nov 18 at 8:43 PM

FRISCO, Texas (AP) — A Canadian businessman has purchased the Dallas Stars.

The Stars said Friday that Tom Gaglardi, president of Northland Properties Corp., will be introduced Monday at a news conference as the team's new owner. Terms were not disclosed. The Stars signed an agreement in September to sell the team to the Vancouver businessman and filed a prepackaged bankruptcy plan to help facilitate the transaction.

Gaglardi said Jim Lites will return as the team's president and CEO. He has held the position twice previously.

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