Dallas Stars

About

Led by long-time owner Tom Gaglardi since 2011, the Stars have capitalized on Dallas's affluent metropolitan market (top-10 U.S. DMA) and a modernized American Airlines Center to drive valuation growth from $1.1B to $1.3B, supported by $200M in annual revenue and a competitive on-ice product that reached the Stanley Cup Finals in 2020. The franchise benefits from strong local sponsorship demand, untapped regional market penetration relative to other major sports in Texas, and potential upside from NHL media rights inflation, though profitability remains compressed at $20M operating income given capital intensity in professional hockey operations.