At Long Last, It's Official: Dallas Stars Have New Owner (Gaglardi) And Old President (Lites)

As expected Tom Gaglardi was awarded ownership of the Dallas Stars in a Delaware bankruptcy court this morning; and, as expected, the Canadian has brought back the great Jim Lites, the one-time team president and CEO moved in '07 to run Hicks Sports Marketing Group, poor fella. And it didn't take long, either: Lites's bio is back on the Stars' website, where it has the note that "Lites is very familiar with the position having held it twice previously under prior owners Norm Green and Tom Hicks."

Gaglardi and Lites won't be formally introduced (or reintroduced, as the case may be) till a Monday press conference, details forthcoming. But Your Dallas Stars have sent out a short note concerning the transfer of ownership, in which Gaglardi says of the decision to rehire the man in charge when the Stars won the Stanley Cup in '99: "Jim Lites is the right guy at the right time to reposition and lead the franchise forward. I like his vision, resilience, marketing expertise and his total energy for this job, and he and I share a huge love of this game. "

The whole note from the team follows.

New owner to be introduced Monday; Jim Lites Returns As President/CEO

FRISCO, Texas (November 18, 2011) - Tom Gaglardi, President of Northland Properties Corporation, today purchased the National Hockey League Dallas Stars. The new owner will be introduced Monday at a news conference at American Airlines Center.

Gaglardi (pronounced guh-lar-dee) announced that he has named Jim Lites as the President and CEO of the Dallas Stars. Gaglardi said he believes that Lites will give a huge jump-start to the team as it works to recharge the Dallas Stars and fan experience.

"Jim Lites is the right guy at the right time to reposition and lead the franchise forward," said Gaglardi. "I like his vision, resilience, marketing expertise and his total energy for this job," said Gaglardi, "and he and I share a huge love of this game."

The 43-year-old Gaglardi is the President of Northland Properties Corporation, the largest family-owned hospitality company in Canada. He has played hockey since he was five years old, and, in fact, he continues to play hockey on a Canadian competitive team. Gaglardi has noteworthy Texas roots; his mother is a Longview native, and he has "serious UT relatives" who live west of Fort Worth.

"I know the fans and the organization are relieved that this period of uncertainty is over," said Gaglardi. "The team has established a solid foundation, and I am looking forward to working with Jim Lites and Joe Nieuwendyk, who I have always admired and think is doing a superb job, to reignite fan enthusiasm for this club."

Lites, 58, is very familiar with his position having held it twice previously. Lites returns to the Stars with a reputation as one the finest administrators in professional sports. Over the course of his two prior stints with the Stars (1993-2002; 2003-2007), the team won seven Division Championships, two Western Conference Championships, two Presidents' Trophies, and the 1999 Stanley Cup. Lites also served 11 years as COO of the Detroit Red Wings from 1982-1993. Since 2007, he managed the New York Football Giants' Personal Seat license program at its new stadium in East Rutherford, New Jersey. In addition, he has been a consultant to Worldplay Networks, a highly successful technology company in Calgary.

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