The Minnesota Wild have swapped minority owners, with Chicago financier Matthew Hulsizer replacing New York hedge fund manager Philip Falcone on majority owner Craig Leopold's board of directors.
The change was announced Wednesday. Hulsizer, whose bid to buy the Arizona Coyotes two years ago fell through, is the co-founder and chief executive officer of PEAK6 Investments. He played hockey at Amherst College. The Wild said his ownership stake was unanimously approved by the NHL Board of Governors.
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Falcone said through the Wild that he's been too far away and busy to be as involved as he wanted. Falcone and his firm Harbinger Capital Partners agreed in 2013 to pay the Securities and Exchange Commission $18 million to settle charges of misuse of fund money and manipulating the market.