I talked to a source close to the Stars sale today, and he said that the negotiations are going at a methodical pace, and that he does not expect a sale any time soon.
He said that many of the parties who are involved in negotiations are in the middle of family vacations, and that talks should pick up after Labor Day. When I asked about the Forbes report that the sale of the team could go for $275 million to $300 million, he said that there is no limit on what the final price might be, and that there are a lot of variables in what the final price might be. But he said that they are not in the final stage by any means of finding out what that price might be.
He said there are still two primary bidders but would not name them (they are believed to be Tom Gaglardi and Bill Gallacher), and said that they still are seeking additional bidders. News Corp. is out, and in an e-mail I sent to Mark Cuban, he declined comment on any talk of the Stars sale, so I'm not sure who could be getting in on the bidding. I think Gaglardi and Gallacher are the primary bidders and both are being cautious about establishing what they believe might be a fair price for the Stars.
Everyone is being quiet and patient in trying to get this done. The sellers obviously want a bidding war. The buyers are trying to be coy with what they want to pay. It's status quo, basically, at least that's what he said.