The previous Blues ownership group, which has held a minority interest in the Blues since selling majority control of the team in 2012, will soon offer that interest for sale, The Athletic has learned.

A sale will result in the final exit of New York-based Towerbrook Capital Partners and SCP Worldwide, the latter formerly led by Dave Checketts, from any interest in the Blues.

The sale will not affect the operation, governance or control of the Blues. Blues chairman Tom Stillman will remain as lead owner and league governor, and all members of his local ownership group will retain their interests in the Blues.

“It is important to understand that the Blues are not for sale,” Stillman said in a statement released to The Athletic. “Only a minority interest in the club will be sold, and the new investors will become part of our ownership group.

“Control of the Blues will remain in local hands, and it will be business as usual, both on and off the ice. We are committed to finding investors who share our passion for the Blues, for our community, and for bringing a Stanley Cup to St. Louis.”

Sale of the minority interest follows agreements entered into when Stillman’s group purchased the Blues in 2012. In that transaction, the Towerbrook group sold the franchise to Stillman’s group of local investors, but retained a minority interest, the size of which has not been disclosed. The 2012 transaction agreements called for a sale of this minority interest at a point in the future.

Stillman was the third member of the previous ownership group, but he is not selling his share of the minority interest retained in 2012. Instead, Stillman will keep his share and his overall stake in the Blues will not change.

Stillman and the Blues will work jointly with the sellers in marketing the minority interest to new investors and Galatioto Sports Partners will serve as the financial advisor.

Any sale will require the approval of both the Blues and the NHL.

(Main photo credit: Billy Hurst-USA TODAY Sports)