St. Louis' status as mid-level market possible factor in Blues sale
The St. Louis Blues are for sale for the second time in six years, and a local economics professor says St. Louis' status as a mid-level market may have contributed to the move.
Team chairman Dave Checketts put the team up for sale Wednesday night when he could not reach a deal to purchase the 70 percent owned by an investment management firm.
The team is financially more stable then when Checketts took over. But Webster University economics professor Patrick Rishe says Checketts may have gotten frustrated with the lack of revenue the team generated.
"Mr. Checketts, having previously worked with Madison Square Garden, I think is used to a different kind of cash flow, a different kind of local media revenue and a little bit different sponsorship revenue and corporate involvement," Rishe said.
Rishe says he expects the team will sell for between $150 million and $175 million. He says no buyers jump to mind immediately.