Palace Sports still in charge -- it's in writing

The letter of intent to purchase the Lightning that Absolute Hockey Enterprises signed with Palace Sports & Entertainment contains an interesting clause. It ensures the smooth running of the organization by putting all decisions in the hands of the current owners while Absolute Hockey waits for league approval to take control of the team and for the sale to close.

The clause states Absolute Sports must be "consulted'' before any moves (such as player trades) are made. But the final word rests with Palace Sports until Absolute Hockey is officially in charge. 

Given the snail's pace of these things, that might take months. There is a seven-section application to the NHL that Absolute Hockey must complete. It likely will take hundreds of pages of material to comply with everything from financial disclosures to background checks. Then the NHL's Board of Governors must vote to approve the transfer of ownership. Then the sale must close. There's more on that in Wednesday's paper.   

The enforced harmony is important, especially if you know your Lightning history.

It was June 1999 and Palace Sports was buying the team from Art Williams. The two sides were jointly running the Lightning, meaning any moves not only needed the approval of Palace Sports, which already had hired Rick Dudley to handle hockey operations and run the upcoming draft, but the approval of Williams.

According to a St. Petersburg Times story at the time, Dudley had worked out a deal with the Stars to acquire goaltender Roman Turek, perhaps for Darcy Tucker. But Williams nixed the deal. As the story stated, "The deal would have increased the Lightning's payroll at least $1-million and Williams wanted no part of that in the event he remained owner of the Lightning into next season.''

Who knows how that deal, had it gone through, would have altered Tampa Bay's future. Maybe Dudley would not have traded the No. 1 overall draft pick that year in a complex, multi-permutation deal that landed the team goaltender Dan Cloutier from the Rangers. Even if he did trade the pick, it would not have been for a goalie. And the Tucker deal with the Maple Leafs in February 2000 for Mike Johnson would not have happened.

The Lightning might have kept the draft's top pick. It turned out to be a weak year but the crop included the Sedin twins, who went to the Canucks, and Tim Connolly, who went to the Islanders. Top pick Patrik Stefan, to the Thrashers, was a bust.

Lightning president Ron Campbell on Wednesday would not comment on the letter of intent. But speaking generally said, "We're free to do whatever we want. ... We're going to do things the way we've done them for eight years. That's the marching orders I've been given, to do the right things for the right reasons.''

To the credit of Absolute Hockey, which includes former Blue Jackets president Doug MacLean, Coral Springs real estate developer Jeff Sherrin and Hollywood producer Oren Koules, as well as some still unnamed investors, Campbell said it has not made any demands of Palace Sports. And MacLean is on record as saying the plan is to keep coach John Tortorella and GM Jay Feaster.

"We want to win and they want to win,'' Campbell said. "They pursued a team that has a chance to win the Stanley Cup this year and the next couple of years. We want to build that as much as they do. There's been no animosity, no challenges, no questions. It's kind of like they like what we've been doing.''

It also is in Palace Sports' interest to run the business as if no ownership change was imminent. After all, if the sale falls through, Palace Sports wants its property to retain its value.

"We're trying to deliver the best asset we can,'' Campbell said.

And they can do it without any outside interference.

Comments

[Sohbet]

thank you

[Mike13]

I have been more than a little disappointed over the way coach Tortorella has handled his goalies over the past two seasons and I was more than a little upset at the way he treated Feds and Perrin as they left the organization. However, the past couple of weeks have made me a little softer to his ways.

A couple of weeks ago, Damian wrote an article about the Tortorella's and their work in the community with under-priviledged kids. Then, two days ago, I reserved a conference room at my office, hooked up my laptop to the projector and played the 03-04 Stanley Cup DVD. The guy is really quite an amazing coach and is very human --even if he is a little jagged around the edges. Sometimes, he is downright Ginsu knife sharp around the edges. Still, I have a slightly different opinion of Torts than I had before.

I agree, Richie. I think any team would be more than happy to have him should the new owners not want to keep him around. I also think, that it would be a grave mistake to let him go.

[Richie]

Better believe Palace Sports is running the show until the "check is cashed". JF and JT have worked well together over the years and if the new owners are smart (and most appear to be), they will not allow Doug MacLean to interfer with this relationship. And that observation is based upon MacLean's past track record as a coach and GM. He's well suited for Ron Cambells job - stay in the background, smile a lot and shake a lot of hands. Otherwise JF and JT will be out of Tampa in a heartbeat to any number of teams that would be happy to have them.

[Matt in Georgia]

"Top pick Patrik Stefan, to the Thrashers, was a bust."

(sigh) Was he *ever*....

[Mike13]

I don't agree with bringing Kubina back to the team either. I can't remember who said it but I agree with the notion that, should the budget increase, we should use the money to sign Boyle to an extension rather than overpay Kubina to come back.

IF the Bolts were to make such moves, I just thought that it was interesting that the pending sale might have Davidson thinking about adjusting the budget. Although PS&E is still making all the decisions according to the agreement, I'm just wondering if that was really the case.

[Nan]

The only thing MacLean should do if and when it comes to it is open up the wallet and buy some talent in the needed areas halfway through the season. He needs to let JF decide though who to buy! JF was rated one of the best GMs while MacLean one of the worst. If MacLean starts messing around with Jay's job then he is stupid.

[Joe]

What are the chances that a guy like Doug MacLean could take over as President of any team and be perfectly happy with the players, the coach, and the GM? Before papers are signed and the transfer of the prerogatives of power takes place, Doug and his partners are almost obliged to continue to reassure everyone that no changes are being considered.

Logically, one must assume that the new base commander will want to assert himself and make Lightning alterations consistent with his own unique perspective. Doug apparently enjoys the confidence of his partners where hockey decisions are involved. Torts will no longer be answering to a guy who never played or coached hockey; so, that opens up one avenue for contention. Jay Feaster, will most probably not be given much autonomy in running the team. If he survives it will likely be as, in essence, an assistant GM albeit that he could retain his GM title. Campbell will have MacLean's partners looking over his shoulder, and that might not be too pleasing for him.

But the crux of this really relates to the questions surrounding player personnel. There are probably going to be a few additions and the budget should increase commensurate with MacLean's perception of needs. My guess is that there will be some major trades involving the Lightning from the middle of the season to the trade deadline date. MacLean will feel comfortable with his new situation by then.

Seasoned observers will look for new hires that come from Doug's circle of trusted friends and associates (many of whom will share that P.E.I. connection like former Blue Jacket coach, Gerard Gallant). Incidentally, Gallant played for the Lightning for a short time after his successful playing years in Detroit and just before hanging up his skates.

It is reasonable to anticipate dramatic change in the Lightning organization by this time next year. There will be few, if any. dull moments directly ahead for this franchise.

[F.T.B.S.]

I too, am with Satch on Kuby. If Satch wants the point, I'll cover our six o'clock.

Bryzgalov would be interesting if we could take Anaheim's defencemen out of the equation to evaluate that goalie. Not so sure Denis would look so abyssimal out there.

I'm sticking with Holmer and hope like heck Sullivan and Torts find a way to maintain a scary offence, but not at the expense of letting our goal tenders get "pants'd" by a gay looking defence. (Yet again...This isn't the Curse of Johnny Grahame, this is plain old irresponsible, NONACCOUNTABLE blue line B.S.)

I think we're almost ready to drop the puck...

Go Bolts!

[HockeyMom]

It was Hockeybuzz.com that said the Lightning were going to be sold about a week and a half before it happened.I'm with Satch on Kubina.

[Goldenbolt]

Satch, yes I love the "rumor sites"..... To date we have traded vincent, Richie (whom in the same breath is a bum) and have re-acquired, Kubina, Bulin Wall, CUlimore and are still looking for a good player for the team. It is aslo laughable what they are supposedly looking to give us for the above players. This organization knows the difference between chump change - which would include all the first year, rookie goalies who are an absolute must for us and for that we trade the "money players away". It is a joke..... I do like the fact that at least the team will consult the possible future owners about any moves. Still looking for coverage of the best line in hockey, Vinny, Vinny and Marty..... Not even mentioned as an upcoming good line for this year......

Let's Play hockey......

[Satch]

M 13, with all due respect, in my mind, there is no "high profile" rumor web site. Wait........let me rephrase that.

There is no "rumor" web site that deserves, or has earned, credibility. Maybe they hit on one of 100 "rumors" that could have been guessed by almost anyone who follows the game.

I'll personally lead the solders of fortune, ak47's in hand, to eliminate those responsible for bringing Kubina, and his 5 mil per contract, back to Tampa. If anyone thinks he's the answer, they don't understand the question.

However, Bryz is interesting.

[Mike13]

Have you heard any rumblings of the possible acquisitions of Ilya Bryzgalov or Pavel Kubina as reported on certain high-profile hockey rumor websites?

The reason I pose the question is because the current payroll has us just under the PS&E imposed salary cap. If either trade goes through, it will be interesting to know if Absolute Hockey's immenent procurement of the TBL franchise had anything to do with it.