Blues buyer Checketts backs out

Updated: November 14, 2005, 6:35 PM ET
Associated Press

ST. LOUIS -- Dave Checketts' group withdrew from negotiations to buy the St. Louis Blues, putting the team back on the open market Monday.

Blues owners Bill and Nancy Laurie had signed a letter of intent with Sports Capital Partners granting them exclusive rights to negotiate for 30 days to buy the team and the operating lease on the Savvis Center, where the Blues play.

The Blues said in a statement that the Checketts-led group has withdrawn from negotiations and talks with other interested parties can begin.

The Lauries bought the team in 1999 and put it up for sale in June.

Checketts is a former president of the NBA's Utah Jazz and New York Knicks and ran Madison Square Garden from 1994 to 2001.

Sports Capital Partners is a sports, media and live entertainment company with interests in Major League Soccer, College Sports Television Network (CSTV), Running Subway Productions and other properties.

Copyright 2005 by The Associated Press