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A competing bid by a former associate of both Gaglardi and Beedie, Francesco Aquilini, was accepted by McCaw; Aquilini would get complete possession of the Canucks in 2006, however a high profile legal fight would ensue between the previous business associates on the possession of the group, together with the Supreme Court of Canada ruling in Aquilini’s favour in July 2009. In April 2010, Gaglardi proposed buying the Atlanta Thrashers and relocating the team to Hamilton, Ontario. This possible move, even though it really never attracted the level of resistance that Jim Balsillie’s similar attempts have triggered, never occurred, and True North Sports & Entertainment bought the team instead, transferring it to Winnipeg. Gaglardi was officially presented as the newest owner of the Dallas Stars hockey team on November 18, 2011. He first expressed an interest in purchasing the Stars in 2009 and spent more than a year going through the procedure for finishing the deal for the team, which went by way of a bankruptcy proceeding. As the newest owner, Gaglardi’s first move was bringing back former Stars president Jim Lites to once more take the reins as team President & CEO. First lien lenders got about 75 cents on the dollar. The Stars lost $38 million during their last fiscal year and $92 million over the past three seasons. He also is a part of the ownership group of the Kamloops Blazers of the Western Hockey League.