From TBO (http://www.tbo.com/sports/lightning/MGB1D42C25F.html):

The Tampa Bay Lightning will host a press conference at 11 a.m. today to announce the sale of the team, the leasehold rights to the St. Pete Times Forum and adjacent properties, a Lightning news release says.

The new ownership group is Absolute Hockey Enterprises, which includes Doug MacLean, Jeff Sherrin and Oren Koules.

A purchase agreement has been signed by Absolute Hockey, but the ownership transfer is subject to approval by the National Hockey League's Board of Governors, the news release says.

Sherrin is a real estate developer from Coral Springs.

MacLean is former general manger of Columbus, Ohio Blue Jackets and former coach of the Florida Panthers.

Koules is co-founder of Twisted Pictures, the group behind the Saw movies, and producer of other movies such as John Q, Set It Off and executive producer of the television show Two and a Half Men.

Stay with TBO.com for more on this developing story.

Reporter Erik Erlendsson can be reached at (813) 259-7835 or eerlendsson@tampatrib.com.

for the development orientated: what property does the arena lease give the owner of the lease rights to downtown? Real Estate Development was a prerequisit requirment for any sale of the Lightning specifically because of that extra property.

They sold naming rights? When will the Times name be off? lol - that's what interests me most.

I really, really like the Times but I always found it inappropriate for their name to be all over Tampa. I know, a debate as old as time...

I hope my cousin Martin St. Louis makes more money out of this. :D

They sold naming rights? When will the Times name be off? lol - that's what interests me most.

I really, really like the Times but I always found it inappropriate for their name to be all over Tampa. I know, a debate as old as time...

Those liberal news gurus @ the Times want everything to their name, then bash Tampa like crazy. I don't mind the media so much. But so many news outlets these days are biased. I hope the Times doesn't strik Bay News 9 with their liberal crap next. Oh wait, I think they already have...

On the other hand, the Tampa Tribune is more conservative. Which I don't really mind too much. I like the Tribune better than the Times.

As for the whole Lightning sale...this is the first I've even heard of it. I haven't paid attention to the local sports news lately so I haven't heard anything about the sale until now. I'm interested to see where this new direction will thake the Lightning. What about this logo stuff that was discussed in another thread in the Skybar?

Ditch the political bullshit from your post, Slup, because it has no place in this discussion.

This post is about the LIGHTING. You want to whine about how you hate the Times because your politics are far right, start a new thread. This post was about the Lightning sale.

I heard a bit of the press conference. There was a question posed to Sherrin about what would be done with the 5.5 acres (I assume this is just the parking to the east and west?), and he said that there were no plans or discussions yet.

I can't imagine that this is true. Clearly, in today's in NHL, you can't just operate a team and expect to make money.

Not sure exactly what land this is, but there is some:

http://blogs.tampabay.com/lightning/2007/08/new-ownership-g.html

The group, called Absolute Hockey Enterprises, purchased the Lightning, its lease agreement with Hillsborough County, St. Pete Times Forum and two pieces of adjacent property from Palace Sports & Entertainment

Ditch the political bullshit from your post, Slup, because it has no place in this discussion.

This post is about the LIGHTING. You want to whine about how you hate the Times because your politics are far right, start a new thread. This post was about the Lightning sale.


No need to get so hostile John. Its just a brief opinion. Anyways, When di this sale thing even first start? Someone pls bring me up to date?

The sale was facilitated privately in Michigan, word never leaked out. Most of the Lightening officials didn't even know until yesterday.

I heard this am. Rock from Bay News 9 said Phil Esposito had a group that put in an offer. The land came up with concerns over the lost parking.

John F - do you know anything about that?

wslupecki, cut the political BS. ugh.

Lightning to change hands, but little else
Tampa Bay Business Journal - 1:58 PM EDT Tuesday, August 7, 2007by Carl Cronan

Aside from introducing a new team logo later this month, the new owners of the Tampa Bay Lightning say they do not plan any significant changes through the upcoming 2007-08 hockey season.

Absolute Hockey Enterprises, a Florida-based investment group, was introduced Tuesday as the Bolts' fourth owner in the 15-year history of the National Hockey League franchise.


Pending approval by the NHL's board of governors over the next several weeks, the group will acquire the team from Palace Sports & Entertainment Inc., along with leasehold rights to the St. Pete Times Forum and 5.5 acres of adjacent vacant land now being used for parking.

The amount of the deal was not disclosed, though sources said it could be around the $200 million mark based on current NHL team values.

Palace Sports, led by Detroit billionaire Bill Davidson, has owned the Lightning for the last eight years and has estimated losses exceeding $60 million on its original $115 million investment. The franchise had only one profitable season, in 2003-04 when it won the Stanley Cup championship.

Tom Wilson, president of Palace Sports, said Tuesday that money was not the primary consideration in selling the team nor were stalled negotiations with local governments over issues such as parking and property taxes. Davidson turned back several bids for the Lightning before meeting with Absolute Hockey over the last six weeks, Wilson said.

"We've had a great run, but I think the times are going to get better," Wilson said during a press conference at the Forum.

Tampa Mayor Pam Iorio issued a statement Tuesday afternoon saying she looks forward to meeting with the Lightning's new owners, specifying, "We will do all we can as a partner to ensure their future."

Doug MacLean, a former coach and administrator of five other NHL teams, will serve as the Lightning's new president and pledged not to make any changes to the team's current structure, which includes keeping General Manager Jay Feaster and Head Coach John Tortorella.

MacLean's fellow Absolute Hockey investors include Jeff Sherrin, a real estate investor and developer from Coral Springs, and Oren Koules, a Hollywood film and television producer who played minor-league hockey. As many as nine principals could ultimately be involved in the Lightning purchase, he said.

"I think we're going to be a great management team," MacLean said. "We're going to have to prove ourselves to the fans and the community."

As leaseholders to the Forum, Palace Sports has brought a variety of concerts and other nonhockey events to the 20,000-seat arena downtown. MacLean said the Lightning's new ownership intends to maintain that momentum by retaining the arena's current management staff.


The only apparent visible change to be made this season, he said, will be the introduction of the Lightning's new logo and uniforms during the team's annual IceFest fan event Aug. 25.

MacLean, who coached the Florida Panthers to Stanley Cup victory in 1996, also noted that the Lightning have the third-largest fan base among NHL teams in the United States and that he would like to see the team win another league title as soon as possible.

The Lightning is the second NHL franchise to announce a pending sale in the past week. The Nashville Predators is being purchased by a group of investors based in that city, turning away a larger $220 million bid by a Canadian group.

http://tampabay.bizjournals.com/tampabay/stories/2007/08/06/daily23.html?page=2

wslupecki, cut the political BS. ugh.

yes, none will be said here. I realize that's what the SSC Skybar is for...

60 million in losses on an initial investment of 115 million... ouch! I hope the new ownership has no intentions to move the team.

Well it's not really a loss if they sold the team for $200m. I would also bet that most NHL teams had a hard time in that period, the strike was a big money loser for everyone.

60 million in losses on an initial investment of 115 million... ouch! I hope the new ownership has no intentions to move the team.

While they will not be able to for several years, bearing in mind that it will now be owned by a conglomerate of sorts I would never rule it out. If another market may be more lucrative...well you know the rest.

Scratch that. Weird...

http://blogs.tampabay.com/lightning/2007/11/deal-to-buy-lig.html

Deal to buy Lightning dead

By DAMIAN CRISTODERO
Times Staff Writer
The deal Absolute Hockey Enterprises was hoping to put together to buy the Lightning from Palace Sports & Entertainment apparently is dead.
Palace Sports nixed the purchase agreement when Absolute Hockey did not come up with a required $5-million payment. Now the investment group has splintered as Coral Springs real estate developer Jeff Sherrin is suing Hollywood producer Oren Koules for allegedly failing on Nov. 13 to make a capital contribution of $4.16-million.
Sherrin is asking $50-million in damages.
The suit was filed in the 13th judicial circuit in Hillsborough County.
The other known members of the investment group are Mark Burg, Koules’ business partner, former Blue Jackets president Doug MacLean and Tampa attorney Steve Burton.
While the deal as originally announced with much fanfare on Aug. 7 is no longer valid, don’t be surprised if a deal is resurrected at a later date with Koules or a group led by him.
Koules has a minor hockey background and always expressed his interest most fervently. He said shortly after the sale was announced that he already had depth charts on his desk in Los Angeles.
But that apparently is not something that will happen quickly.
The bombshell is another blip in a process that has been anything but smooth. At the news conference announcing the original sale of the team, the St. Pete Times Forum lease and 5½ acres of adjacent land for about $200-million, the group said it would announce the rest of the investment group in a week to 10 days.
But names were difficult to come by, and while Berg and Burton were brought on board, MacLean always maintained at least one other investor had yet to be named.
Absolute Hockey said repeatedly it hoped to close the deal by the end of November. There also was a Dec. 31 deadline in the purchase agreement to finalize the transaction.
But when the deal did not make it onto the agenda of NHL Board of Governor’s meeting Wednesday and Thursday in Pebble Beach, Calif., it was obvious the deal was not progressing as quickly as hoped.

After a few days of hype...then nothing....then this...lovely.



Stuff happens though.

Whoops... Not sure if this is good or bad for us, the fans and taxpayers of Tampa.

Hell, for $200m, I wouldn't mind seeing the county buy the team. Sounds like that could be a great investment for the taxpayer.

Would that make the Lightning the only municipally/government owned major league franchise in the country? I know one or two are fan-owned, but I can't recall the details.

That would be an odd concept, the county owning a sports franchise rather than just raping the tax payer for the support of privately owned franchises.

If the county bought the team, would they want to rename them the Hillsborough County Lightning? Or maybe the Hillsborough County Sprawl?

I can see the ads now on the public access channels: It's your duty as a Hillsborough County citizen to attend a minimum of four Lightning games per year. Be sure to bring a copy of your voter registration or property tax form to the game so you receive credit for your attendance. Failure to attend the requisite number of games will result in a 10% tax penalty.

:rofl:

If the county bought the team, would they want to rename them the Hillsborough County Lightning? Or maybe the Hillsborough County Sprawl?

I can see the ads now on the public access channels: It's your duty as a Hillsborough County citizen to attend a minimum of four Lightning games per year. Be sure to bring a copy of your voter registration or property tax form to the game so you receive credit for your attendance. Failure to attend the requisite number of games will result in a 10% tax penalty.


:rofl:
That's classic! :)

I know this is a bit off topic, but when the SP Times Forum was originally built as the Ice Palace, did Palace Sports & Entertainment have anything to do with the (original) naming of the arena? Just curious.

The team was originally own by a Japanese investor. It was local officials and the local reps of the Lightning who had the arena named "Ice Palace"

But they, Art Williams (second owner of the Lightning) and Palace Sports and Entertainment all flirted with the idea of selling naming rights to Ice Palace -- and with the team bad and the arena in the red early on, it made sense.

^^
I see. I almost forgot that a Japanese investor originally owned the Lightning.

The good ol' Thunder Dome days.

And Expo Hall.

Tampa Bay Lightning sale moving forward
Tuesday, April 22, 2008

http://www.baynews9.com/images/news/2008/4/22/orenkoules.jpg
Oren Koules, a Hollywood movie producer, saw his first partner back out on the deal in February.

HILLSBOROUGH COUNTY (Bay News 9) -- After a lengthy period of negotiation involving credit, financing and other parameters, it appears a deal to sell the Tampa Bay Lightning will get done.

Buyer Oren Koules will get financial backing from team owner Palace Sports and Entertainment and Galatioto Sports Partners - a sports investment bank located in New York. That bank will help finance the sale.

No specifics were released but it is believed that Palace Sports and GSP will provide half of the $200 million sale price for the team, the St. Pete Times Forum lease and some adjacent acreage.

Koules, a Hollywood movie producer, saw his first partner back out on the deal in February.

However, the deal still must be approved by the National Hockey League's board of governors.

http://www.baynews9.com/content/36/2008/4/22/341818.html?title=Tampa+Bay+Lightning+sale+moving+forward

Lightning sale approved by NHL
Thursday, June 19, 2008

HILLSBOROUGH COUNTY (Bay News 9) -- The Tampa Bay Lightning received final approval on the sale of the team Wednesday.


The National Hockey League's Board of Governors unanimously approved the sale of the team to Oren Koules and his ownership group, OK Hockey.

Although approved by the league, the sale is not a done deal.

The approval is based on the pending closing of the $200 million transaction between Koules, OK Hockey and the seller, Palace Sports & Entertainment owner Bill Davidson.

The deal, expected to be completed before the end of June, includes the St. Pete Times Forum lease and a little more than 5 acres near the facility.

http://www.baynews9.com/content/36/2008/6/19/358339.html?title=Lightning+sale+approved+by+NHL

I assume OK Hockey is so named for Mr Koules. He's not from Oklahoma by chance, is he?