Victory+ is expected to begin its liquidation process in a Canadian court on Thursday, after filing for insolvency and terminating all of its employees Monday.
Once the home of the Stars and the Ducks of the NHL, the Lynx and Dream of the WNBA — and just months ago on the verge of acquiring the NBA’s Magic, T-Wolves and Hornets — the streaming service has shuttered due to debt in the double-digit millions, an unrealistic business plan, wary investors and a failed last-ditch effort to be financed by Stars owner Tom Gaglardi.
Victory+’s new CEO Jon Spencer of TriWest Capital Partners fired most of the company’s C-Suite executives on Aug. 19 — including co-founder Neil Gruninger — and met in recent weeks with Stars President & CEO…