Sources: Jim Lites returning as president of Stars

It looks like new ownership will bring back a familiar face to the Dallas Stars front office.

Multiple sources confirm that former Stars president Jim Lites will return as the team’s president when Vancouver businessman Tom Gaglardi takes over as the team’s new owner.

Lites served as Stars president from 1993 to 2007, except for a short period in 2002 when he was president and CEO of the Phoenix Coyotes.

Gaglardi could be announced as the team’s new owner as early as Friday. A court hearing is scheduled for Friday morning in Delaware, where a judge is expected to approve the sale of the team to Gaglardi and approve the club’s prepackaged bankruptcy plan.

Meanwhile, another part of the process is complete. A source confirmed Wednesday evening that the NHL's Board of Governors already has voted to approve Gaglardi as the new owner of the Stars. The vote was done via fax, and that requires a unanimous vote.

Gaglardi is the President of Northland Properties Corporation, which he and his family run. The company owns and operates hotels and restaurants throughout Canada.

Gaglardi also leads the ownership group of the Kamloops Blazers of the Western Hockey League. The ownership group includes Shane Doan, Mark Recchi, Jarome Iginla and Darryl Sydor.

The Stars are expected to formally introduce Gaglardi at a press conference early next week, possibly on Monday.