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Largest investor in St. Louis Blues seeking to sell share of team

Wednesday, 05.12.2010 / 2:08 AM / News

The Canadian Press

ST. LOUIS - A private equity firm that is the largest investor in the St. Louis Blues is seeking to sell its share of the team.

Team spokesman Eric Gelfand said Tuesday there will be no loss of funding while TowerBrook Capital Partners seeks a new investor after four seasons. TowerBrook and SCP were primary investors when the team was purchased from Bill and Nancy Laurie in 2006. Blues chairman Dave Checketts is a member of TowerBrook's management advisory board.

"Dave Checketts and SCP Worldwide have done a remarkable job of restoring the pride and passion of the St. Louis Blues," TowerBrook said in a statement. "We joined this investment group because of the many past investment successes we have had with Dave. We knew that he, along with his partners, would help revive this franchise and they have delivered since day one. It now sits on a very solid foundation, one that we have been very proud to help rebuild."

SCP Worldwide said in a statement that it had retained the sports agency group at Citibank to help find new investors.

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