ST. LOUIS - Matthew Hulsizer signed a letter of intent to purchase the St. Louis Blues franchise back in October, but the NHL has reportedly terminated the arrangement.
According to the Post-Dispatch, Hulsizer's deadline to reach an agreement suitable to the league came and went this past Saturday.
Dave Checketts and his group -- Sports Capital Partners -- along with majority investors TowerBrook Capital Partners have owned the Blues since March of 2006.
The club was put up for sale in March 2011 when Checketts and TCP were unable to agree on a purchase price for TCP's 70-percent stake in the franchise.
Hulsizer, based in Chicago, put together a bid to purchase the troubled Phoenix Coyotes franchise early last season, but it ultimately fell apart in a tangle of negotiations with the NHL and the City of Glendale, Arizona.
According to the paper, minority owner Tom Stillman is now the front-runner to purchase the franchise.