St. Louis Blues reportedly make ownership change ahead of 2024-25 season

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Cooper Godin
July 18, 2024 (6:17 PM)

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The St. Louis Blues have reportedly made an ownership change ahead of the 2024-25 season.

In the last few years, we've seen changes in team ownership including with the Ottawa Senators, who were purchased by Michael Andlauer and the Nashville Predators, who, as of 2022, are primarily owned by former Tennessee Governor Bill Haslam.

Now, it looks as if the St. Louis Blues are latest team to make a change to their ownership group, according to David Pagnotta of The Fourth Period.

In a post on social media on Thursday morning, David Pagnotta reported that the St. Louis Blues have sold a partial ownership interest to Michael W. Rinley, who founded and is the Managing Director of QRM Capital, an investment firm.

"Earlier this morning, the St. Louis Blues announced a change in their ownership group: David Steward's partial ownership stake has been sold to Michael W. Riney, keeping the team's all-local ownership structure intact." Pagnotta said.

"We are pleased to welcome Michael Riney to our ownership group. Like all members of the group, Michael has a passion for the Blues and a strong commitment to St. Louis. The rest of the group will remain the same as we work toward a successful 2024-25 season." The Blues said.

Despite the Blues' lack of success on the ice in recent years, they've still managed to fill the seats on a nightly basis, which is a big positive for the team's ownership given ticket sales are such a big revenue source. Last season, the Blues had an average attendance of 18,084, which was their highest since the 2019-20 campaign.

The Blues' ownership group is hoping that the team will be able to turn things around on the ice relatively quickly after missing the Stanley Cup Playoffs in back-to-back seasons for the first time since 2009-10 and 2010-11.

Source: St. Louis Blues
Blues announce transfer of partial ownership interest