St. Louis Blues put on the auction block Lauries sell out
The storied hockey franchise of the St. Louis Blues is up for sale again. Nancy and Bill Laurie, the current owners, are being bled dry by the team and have pulled the plug.
Blues President Mark Sauer said:
The Lauries made the decision to sell the team and the Savvis Center because they can no longer justify remaining active in a business which has lost more than $60 million in the past two years and is certain to continue to lose millions annually in the years ahead
Substantial future losses are projected even if you take into account what we believe will be a very successful resolution to NHL collective bargaining,” Sauer continued. “Those projected losses result from the current high sales and amusement taxes and the absence of city, county and state financial support of the debt service and operations of Savvis Center.
There are two main reasons the Lauries are selling the St. Louis Blues:
- NBA Franchise: They were unable to find an NBA franchise to move to St. Louis. They were rebuffed by the NBA when they tried to get the Vancouver Grizzlies.
- State and city support: The tax burden the St. Louis Blues face is the highest in the NHL.