SAINT PAUL/MINNEAPOLIS, Minn. -- Minnesota Sports & Entertainment (MSE), the parent company of the Minnesota Wild, announced today that Craig Leipold's purchase of the Minnesota Wild and its related entities has been approved by the National Hockey League’s (NHL) Board of Governors. Leipold also announced today that Philip Falcone has agreed to join him as a General Partner in the overall franchise.

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“I am very excited this purchase has been approved by the NHL,” said Leipold. “I look forward to the opportunity to continue the overall success of the Northwest Division Champion Minnesota Wild and the start of the 2008 Stanley Cup Playoffs.”

Falcone is a native of Chisholm, Minn. and earned a Bachelor of Arts in Economics from Harvard University in 1984 and played four seasons of collegiate hockey for the Crimson after a successful high school hockey career at Chisholm. He currently serves as the Senior Managing Director of the Harbinger Capital Partners investment team in New York and has more than 20 years experience in leveraged finance and leveraged companies.

“I am excited to have Philip Falcone join our MSE and Wild ownership group,” added Leipold. “He shares a strong passion for the game of hockey. Philip will be a great addition to our group. I am also very pleased that Bob Naegele, Jr. has agreed to continue with my ownership group. A complete list of MSE’s new ownership group will be announced at a future date.”

Leipold will oversee the day-to-day operations of all MSE properties immediately and become the majority owner and principal investor in the company. He will also serve as the team’s Governor at NHL Board of Governors’ meetings. MSE is a regional sports and entertainment leader that includes the NHL’s Minnesota Wild, its minor league affiliate the Houston Aeros of the American Hockey League, the National Lacrosse League’s Minnesota Swarm, Wildside Caterers, 317 on Rice Park and the facility management of Xcel Energy Center and the Saint Paul RiverCentre.

MSE announced on Jan. 10, 2008 that an agreement had been signed to sell the Minnesota Wild and its related entities to Craig Leipold. Bob Naegele, Jr., who had been the majority owner of the Minnesota Wild since the NHL granted an expansion franchise to the team in 1997.