Report: Douglas Miller bids on Stars
Douglas Miller, owner of the CHL's Allen Americans, has made an offer to buy the Dallas Stars, The Hockey News reported on Tuesday.
Miller is the CEO and chairman of the board of Exco Resources, and oil and gas business in Dallas. Besides owning the Americans, Miller has also provided financial support for the Dallas Stars Triple-A Midget Hockey Club for several years.
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Last month NHL commissioner Gary Bettman said there were a "half-dozen interested parties" in the Stars. One of the names that has come up is Dallas Mavericks owner Mark Cuban.
The Hockey News reported that Miller's bid is believed to be in the $225 million range -- $110 million in cash, $20 million in assumed debt and another four years of built-in losses at about $25 million per season.
A source told the publication that the Stars have lost between $26 million and $28 million over the past 12 months. Hockey News sources also said the Stars have used advances from television and revenue sharing to pay operating expenses as a new owner to replace Tom Hicks is found.
ESPNDallas.com's Mark Stepneski contributed to this report.
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