Hedge Fund Manager Out as Minnesota Wild Minority Owner

Feb 25 2015 | 3:45pm ET

New York hedge fund manager Philip Falcone is no longer a minority owner of the NHL franchise Minnesota Wild. PEAK6 co-founder and CEO Matthew Hulsizier will replace Falcone and assume a stake in the team.

The NHL franchise announced the change on Wednesday. Hulsizier's ownership state was approved by the NHL Board of Governors in a unanimous vote.

"I am very honored and excited to be a part of the Wild organization and to be partners with Craig (Leipold)," Hulsizer said in a statement. "As a life-long hockey player and fan, I have always dreamed of winning a Stanley Cup. Craig and I share a commitment to winning and we look forward to bringing the Stanley Cup to Minnesota."

A former hockey player at Amhearst College, Hulsizier has a history with the franchise. In 2013, he attempted to purchase the team, but his bid fell through. 

Meanwhile, Falcone stated that his other commitments have taken away from his ability to remain as involved with the team as he would have liked. He is the CEO and Chairman of Harbinger Capital Partners in New York.

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