Chicago Blackhawks owner Andrew Barroway said Thursday he plans to sell the team in the coming weeks.
The franchise was sold for $1.4 billion to a consortium of banks, investors and media companies that include a group led by the Chicago Bulls owner, Jerry Reinsdorf.
Barroways group also owns the NHL’s Chicago Blackhawks, which won the Stanley Cup last season and the Chicago Fire, which is owned by the same group.
Barrows group also is negotiating a deal to buy the Chicago White Sox, a team Barrowas group helped found in 1998.
He said he would sell the Blackhawks by June 15.
The sale was made public Thursday and confirmed by the White Sox in a statement.
“We continue to work on an agreement to acquire a new arena and the team is committed to bringing a championship to Chicago and the state of Illinois,” the White Sts.
said in a release.
“The ownership group has made significant progress toward that goal and is focused on finding a new home for the team as soon as possible.”
Barrowes group has had its share of struggles, including a disappointing showing in the 2014 Stanley Cup Final and an early exit from the playoffs in 2015.
Chicago is not expected to be a playoff team again this season, but Barrowaws group has shown signs of improving its fortunes in recent years.
The group’s revenue grew from $3.9 billion to $8.6 billion in 2017-18.
That helped the group meet a $2 billion debt payment to the state and help it avoid bankruptcy.