"With Dave Checketts' efforts to replace the Blues' major investor still unresolved, an offer has been made to purchase the team outright from Checketts, multiple sources have told the Post-Dispatch. St. Louis businessman Tom Stillman, who is already a minority owner, is part of a group that presented a formal bid to Checketts' company, SCP Worldwide, to take control of the club. This is the only known offer for the team, an offer sources said was far less than the estimated value of the franchise. In 2010, Forbes Magazine valued the Blues at $165 million, approximately $15 million more than Checketts paid for the team and the lease on Scottrade Center in 2006. SCP has rejected the bid from Stillman's group and will continue seeking financial support to replace the Blues' major investor, TowerBrook Capital Partners, and maintain control of the club. It's believed by sources that Checketts would step aside if he was offered his asking price, which is not known at this time, but based on the recent bid he is not ready to sell. Stillman, who became a minority owner of the Blues in 2007, is the chairman and CEO of Summit Distributing, a St. Louis-based beer distributorship. His investment group includes a couple of "heavy hitters," according to sources, and also has strong St. Louis connections. It's unknown if a second proposal will be submitted, but multiple sources said that Stillman is committed to gaining majority ownership of the Blues. Under the current arrangement, TowerBrook possesses the largest stake in the team at 75 percent, followed by SCP at slightly more than 10 percent and Stillman at 10 percent." Read more: http://www.stltoday.com/sports/hockey/professional/article_27e1608b-8d5b-5a9d-9ea3-ce4756258c9d.html
