Make us your home page
Instagram

Get the quickest, smartest news, analysis and photos from the Bucs game emailed to you shortly after the final whistle.

(View our Privacy Policy)

Sale of Tampa Bay Lightning to Boston investor Jeff Vinik all but official

Barring anything unforeseen, Boston hedge fund manager Jeff Vinik will be the next owner of the Lightning.

There still is talk of co-owner Len Barrie mounting a competing bid, and co-owner Oren Koules, who has kept a similarly low profile, could have a scenario of his own.

But Barrie has financial problems at his Bear Mountain Resort in Victoria, British Columbia. And the pair lead a team in deep financial trouble.

Add that the NHL is working directly with Vinik to broker a deal and it is apparent the deck is stacked heavily in favor of the New Jersey native, Harvard grad and limited partner of the Red Sox.

Nothing was finalized (at least no announcements were made) during a Saturday in which lawyers and negotiators apparently took more steps forward.

So, what is the timing?

The league wants this wrapped up as soon as possible. The SportsBusiness Daily Web site reported the team needed to draw on future revenue-sharing money to help meet January's payroll. As soon as Vinik has a purchase agreement, he can start handling that expense.

Vinik has an advantage in the approval process because his representatives are working so closely with the league. Remember, though his involvement came to light last week, the dealmaking has gone on longer than that.

That Vinik doesn't seem to be bringing in outside investors means fewer headaches putting a package together, and if he is self-financing, going from purchase agreement to closing should be a straight line.

It is that straight line that is most exciting to the league. So though Barrie and Koules perhaps are technically still alive in this process, they would have to go a long way to change what seems a foregone conclusion.

Sale of Tampa Bay Lightning to Boston investor Jeff Vinik all but official 01/30/10 [Last modified: Sunday, January 31, 2010 12:31pm]
Photo reprints | Article reprints

© 2017 Tampa Bay Times

    

Join the discussion: Click to view comments, add yours

Loading...
  1. Rowdies settle for draw at home

    Soccer

    ST. PETERSBURG — The good news for the Rowdies is that they still haven't lost a game at Al Lang Stadium since late April. The bad news is they had to settle for a 1-1 tie against Ottawa on Saturday night in front of 6,710 sweaty fans.

  2. Bats come to life, but Rays' freefall continues (w/video)

    The Heater

    ST. PETERSBURG —The six runs seemed like a ton, just the second time the Rays had scored that many in a game during their numbing two-plus-weeks stretch of offensive impotency, and amazingly, the first time at the Trop in nearly two months.

    Lucas Duda connects for a two-run home run in the sixth, getting the Rays within 7-5. A Logan Morrison home run in the ninth made it 7-6, but Tampa Bay couldn’t complete the comeback.
  3. Rays journal: Cesar Puello, who has one major-league game, claimed off waivers

    The Heater

    ST. PETERSBURG — Looking to add punch to their right-handed lineup, the Rays claimed OF Cesar Puello off waivers Saturday from the Angels.

  4. Marc Topkin's takeaways from Saturday's Rays-Mariners game

    The Heater

    SS Adeiny Hechavarria doesn't always look like he's going hard, but he showed impressive reactions Saturday in reversing field to catch a ball that clanked off the catwalk then firing to second to double up Guillermo Heredia on an attempt to tag up.

  5. Bucs journal: Simeon Rice gives master class on sacks to defensive ends

    Bucs

    TAMPA — As the Bucs seek their first 10-sack season from a player since Simeon Rice in 2005, who better to help that cause than Rice himself?

    Former Tampa Bay Buccaneers great Simeon Rice works with defensive end Noah Spence (57) after practice at One Buccaneer Place in Tampa, Fla., on Saturday, Aug. 19, 2017.