New owner will inherit a stable of enterprises

Craig Leipold isn't just taking on the Wild's business interests, he's taking on the entire Minnesota Sports & Entertainment operation.

By JUDD ZULGAD, Star Tribune

Last update: January 10, 2008 - 10:10 PM

The Wild might be the centerpiece, but Craig Leipold entered into an agreement to purchase far more than an NHL team from Bob Naegele on Thursday.

Leipold, a Wisconsin resident and former owner of the Nashville Predators, will be taking over the Minnesota Sports & Entertainment company (MSE). The Wild makes up just a piece of that pie.

Other MSE businesses include the Houston Aeros, the Wild's top minor league affiliate; the Minnesota Swarm of the National Lacrosse League; the St. Paul Arena Company, which manages the Xcel Energy Center and the attached RiverCentre; and Wildside Caterers, which provides food service for the suite and club levels in the Xcel.

Pamela Wheelock, executive vice president and chief financial officer of MSE, said the sale won't change any of the current agreements. MSE, for instance, is in the midst of a 25-year lease with the city of St. Paul to manage and operate the Xcel Energy Center. Wheelock said this year MSE will pay $6.8 million in rent for that right.

The company also manages RiverCentre and Roy Wilkins Auditorium, but in those cases MSE gets a fee for providing the service.

It remains to be seen how Leipold's business approach might differ from Naegele's, but there is little doubt that Leipold will bring in some of the ideas he learned as owner of the Predators. Leipold, a resident of Racine, Wis., made it clear during his introductory news conference that he plans to be involved and will buy a residence in downtown St. Paul.

Doug Risebrough, president of MSE and general manager of the Wild, will welcome Leipold's input.

"I think it's going to be really good," Risebrough said. "It's going to be very valuable and I think it's going to be very balanced. He might be thinking he doesn't need to offer that much and we might be asking more because we want to get better. ... I think it's going to be a really healthy discussion over the next three months of how we can be better. I'm very confident that he knows how to help us."

The Wild's majority owner might be different once final approval of the sale comes from the NHL, but the other parts of the ownership group could very well remain the same. Leipold asked MSE's 19 investors to remain involved -- "I believe most of them, if not all of them will," he said -- and also said Naegele agreed to stay on board in that capacity. It's uncertain what type of percentage Naegele might keep.

"I see this as a very stable, stable decision today," Risebrough said. "I think the company is stable. Not just because of its performance but because of some of the things we've been doing to keep continuity and to keep motivation within the group. This will add to it."

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