2015–17 Post-Cup Rebuild
The fraudster who almost bought the Dallas Stars
John Angelo Spano Jr. (born May 31, 1964) is an American businessman and convicted fraudster. He is best known for briefly buying control of the New York Islanders franchise of the National Hockey League (NHL) in 1996, before it emerged that he barely owned a fraction of the assets that he claimed to own. He deceived several banks into lending him enough money to initiate the purchase, believing he could use the fraudulently purchased team itself as an asset to get the remaining tens of millions of dollars needed to cover his fraud. He subsequently pleaded guilty to bank and wire fraud in the 1990s and served a federal prison sentence.
- Franchise Stanley Cups
- 1 (1999)
- Home arena
- American Airlines Center, Dallas, TX
- Defining young star of era
- Tyler Seguin
- Notable acquisition (2014 trade)
- Jason Spezza (from Ottawa Senators)
- Era label (fan usage)
- Post-Cup Rebuild
- Last Cup to this point
- 1999
Lore & Background
In September 1995, Spano began talks to buy the Dallas Stars, claiming to be worth over $100 million based on a letter purportedly from his bankers. He reached a tentative agreement to buy a 50 percent stake in the team, but the closing was pushed back several times. Owner Norman Green backed out of the deal in November, eventually selling the team to Tom Hicks. Spano also made a bid for the Florida Panthers that year after his Stars bid failed, which he abandoned after then-Panthers owner Wayne Huizenga got a deal for a new arena and opted not to sell.
In Their Own Story
The American Airlines Center hums with a low, electric murmur on a Tuesday night in February. The ice is fresh, the Zamboni's trail still glistening under the arena lights. In the third row, a man in a faded 1999 Cup T-shirt—Modano's number, the gold lettering worn soft at the hem—watches a 22-year-old center skate the puck up the left wing, stickhandling past two defenders with the kind of calm that makes the crowd lean forward in unison. The man doesn't cheer yet. He waits. He's been waiting fifteen years for this kid to be *that* kid, the one who makes you believe the shadow of '99 isn't just a shadow. The puck tucks into the corner. The man lets out a breath he didn't know he'd been holding, claps once, slow, like a man confirming a prayer. Around him, the arena roars. He smiles, not at the play, but at the fact that someone young is making it look easy, and for a moment the long drought feels a little shorter.
Reader's Guide
Spano's attempt to buy the Dallas Stars is a cautionary tale of fraud and failed negotiations. Key figures include Stars president Jim Lites, owner Norman Green, and eventual buyer Tom Hicks. Spano's claimed wealth was based on a fraudulent letter from bankers, and his mansion in University Park was unfurnished. He insisted Lites pick up dinner tabs, which Lites said he had never seen in his years as a sports executive.
Did You Know?
- He graduated from Duquesne University with a degree in business administration in 1986.
- He founded the Bison Group in 1990, a Dallas-based company that primarily leased aircraft.
- Spano's bid for the Dallas Stars failed in November 1995; the team was later sold to Tom Hicks.
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