Lightning sold (again)

Stop us if you’ve heard this one before.
It appears would-be Lightning owner Oren Koules had a Plan B at the ready for his financing. Palace Sports & Entertainment and OK Hockey just announced they have entered into a “definitive purchase agreement.’’
As always, the price was not announced, but throughout the nearly six months that this saga has been going on, the purchase price was believed to be about $200-million. That includes the team, the leasehold rights to the St. Pete Times Forum and approximately 5½ acres adjacent to the Forum.
For the moment, the most interesting thing from a fan’s perspective is that the deal is expected to close in the next 105 days, which is a much firmer timeline than the parties have ever laid out.
Of course, it also depends on league approval, which shouldn’t be an issue since Commissioner Gary Bettman helped broker the deal.
“We are pleased to move forward with Oren Koules and OK Hockey LLC as the next owner of the Tampa Bay Lightning, “ said Tom Wilson, President and CEO of Palace Sports & Entertainment. “Oren is a passionate hockey man who cares deeply about the franchise and the Tampa Bay community. We look forward to a smooth transition and a terrific future as he assumes control of the Lightning.”
Koules, a Hollywood producer responsible for the wildly successful Saw films, said, “We are happy that we are able to take this next significant step towards ownership of the Lightning. We are very excited about today’s announcement and look forward to the day when we can make a difference for the Lightning and its fans.”
The next question will be who makes the final calls as the trade deadline approaches.

Comments

[Rob]

First thing the new owner should do is trade Brad Richards and utilize the money in a more positive manner in getting a goalie. Tampa fans could care less about the "big three" we would rather they make the playoffs without breaking the bank.

[Not The Marlboro Man]

Koules can get the extra money he needs by starring Jay Feaster as a victim in one of those "Saw" movies. Then he can take Brad Richards, Marc Denis and John Tortarella, tie them together and let Prospal have his way with them only after replaying a remix of the comments Prospal made the other night about shoving it up someone's butt. Either way it would be a winning proposition. I would buy at least 5 copies of the DVD to give to all my hockey fan friends.

Jr.'s comments are correct..........

[Casper]

Konstantinov before the accident; brother you didn't need to do that one in caps.
Still hurts, and Geo, opinions are like armpits [sic] everyone's got two.
Leave it go.

Hilarious again Ajax, I don't think I'd make the drive to the Skyway. Just a bottle of Jack, a 12 gauge and head toward an open field, man.

As a proponent of the Pete Rose style of athletics (But, I limit my gambling to our roadways and to the old State motto: "Arrive Alive"), I'm not going to denegrate Patrick for the stellar defense of Richie, just disagree, that's all. Cool. Peace. Either of us come up with half a Bil then we can rearrainge the Lincoln Logs from outhouse to Stanley Cup Museum.

Go Bolts!

[Casper]

This soap opera would have ended long ago if Koules had just put a bag over his head and married in to the Davidson clan.

[ajax]

Leo, I am laughing with you, not at you, ya silly dude. I think you know your hockey and more important you never make it personel. That is a breath of fresh air. Keep writing and I will keep poking. And I have to drink, my mom insists. It is the only way I can get through 2+ years of utter frustration. Unlike some who think making the playoffs is 90% of the season's goals met, I want to see us challenge for the cup. If we lose 4-3 in a grinding series that leaves me giving the boys a standing ovation, then I can take the loss. Last year I remember burying my head when it was over and say "that's it?" I am a diehard fan, but not one who is happy with a 4-1 1st round exit. nope. peace.

[Patrick]

"Trade Richards, Trade Richards"... how short some "fans" memories can be.

Do you even care if the player(s) we get for richards produce 70+ points a season like richards has over his 7 year career? Or do you simply want him gone regardless? I guess it's just a given that the player(s) we get will fit in in the locker room, our system and establish chemistry with our other players, because we've seen how easy it is this year to throw together a 2nd line with new players.

And I'm sure it will be easy to get another player as clutch as him in the playoffs as well - 47 points in 45 games. Even Lecavalier only has 33 points in 45 playoff games. Does anyone remember that during the cup year everytime he scored in the playoffs we won the game - like 12 times? But I guess that's filed under his "one good year."

With "fans" like these, it's no wonder there is no loyalty in sports and players "chase the money."

[jr]

Don't think they would be happy at all with holding the paper for more than six months. Their object was to liquidate this asset, not to loan it and get a fixed return.

Every decision made since the end of the 06-07 season has spelled F-I-A-S-C-O.

[tundo]

Maybe he will make a movie about us! The title could be "Farm to Forum: A True Underdog Story".

Seriously though, I wanted to hit on what Turtle said, I wouldn't doubt it if PSE loaned OKHE the money, it would probably be a smart business move on their part. It seems that with a deal like that, the return on the team would no longer be an arbitrary number each year, it would be a fixed return for the duration of the loan until the team is bought out? Im not a business man or anything, but that makes sense in my head...

[hockey drift]

I remember the pre-Torts/Feast days and It was not a ton of fun. A Stanley Cup and four straight post season appearances (not too shabby). In fact only 3 other NHL teams have longer streaks. I'm not about to join the mob of "fire these guys" any time soon! As for the probable sale, kudos to O.K. for fighting for the Bolts as a franchise and fan.

[leo]

Mike and Ajax,
When you make fun of me like that, it makes me look crazy. Use MY words against me, not YOURS.
I never proposed trading V4 for just ANYBODY. And certainly not the whole farm for one guy. In fact, it's the other way around. Vinny for a boatload of young superstars to be, MOST NOTABLY he who stonewalled the Panters tonight. That's what I said.
Taking shots with Tortie...pff! My mom doesn't let me drink alcohol so that doesn't even make any sense.
No, no, you've convinced me.
Let's trade our problems away for super-fantastic sure-fire NHLers, and we can get the Cup with THOSE guys and laugh at the teams who traded them to us.
We will EASILY resign Vinny and he will NOT walk away next year.
Very easy. Let's stay like this forever.
And win the Cup like that.
Should do, eh?
BBR

[Lisa]

Chris, after this season, Vinny will be in his last year. So after July 1st, we can renegotiate or extend Vinny's contract per the new CBA. Marty has 2 more years after this one, so we can't do anything about his contract until the following year if we so desired.

[Voice of the Turtle]

I wonder if PSE is providing the financing for OK's takeover in the form of a bond. Perhaps that is why there is no info available on this.

[Chris]

Some of the comments in this blog are quite telling. The same people that are yelling "fire Feaster" are the ones that think we can extend V4. Guess what, folks, under the new CBA you can't renegotiate until the last year of the deal. Guess you wouldn't do much better as GM, huh?

[ajax]

Carey Price stones the dreaded Panthers with 35 saves and a sterling .972 save pct. He is then immediately traded to the Tampa Bay Lightning. The Bolts give up Vinny LeCavalier, Marty St. Louis, 4 1st round draft picks and a brand new zamboni to acquire "the Kid"
Jay Feaster immediately tells the press, this is the missing piece to our puzzle.
jr, casper, nan, mike13, hockey chic, geo tundra and others are seen headed toward the skyway bridge.
Leo is buying shots with Torts at Hattricks. Vinny Prospal is sent to the minors for conditioning.

[geo]

THE ONLY EDGE O'BRIEN HAS IS DROPPING THE GLOVES HE SENDS THE PUCK BACK AS MUCH AS KUBA THEY BOTH NEED TO LOOK UP ICE AND OBRIEN LOSES MORE PUCK BATTLES WHAT WE NEED IS A DEFENSEMAN LIKE KONSTANTINOV BEFORE THE ACCIDENT TO GO ALONG WITH BOYLE

[ajax]

Kuba probably has more talent/potential than O'Brien, but the world is full of people with unfulfilled potential. Kuba, I am sure does not have the respect of the locker room. O'Brien plays with an edge. A hockey team needs and wants guys like this. Kuba by the way is -20 in his last 30 games. I would ask that you just watch Kuba with the puck in the defensive zone. He rarely tries to move his feet. Back passes, wrap arounds, banks off the glass. Watch the next couple games. He does not want the puck. That is a sure sign he is not a player.
By the way Ovechkin tied the game with 90 seconds left, so Atlanta and Washington get points. The only thing we want every night is no ties. Right now Ovechkin just won't let his team lose. What a force.

[geo]

SORRY BUT KUBA IS STILL BETTER THAN O'BRIEN AND NO MATTER WHAT ANYBODY SAY CULLIMORE SHOULD HAVE BEEN BROUGHT BACK BUT THATS TORTS AND FEASTER THOSE TWO SHOULKD BE TRADED FOR A BAG OF HOCKEY PUCKS BUT I DONT THINK THERE WILL BE ANY TAKERS

[tundo]

Hopefully PSE would allow us to spend more money now if OKH is ok with the team doing that. That could really help us right now, and in the offseason too trying to resign our two studs.

[karma]

Koules is the guy and always has been. Trust me -- he's a hockey geek and loves this team. He knows more about each player than most people on this board (who are a pretty smart bunch!) The only real question is: does he have the purse and can he open it in this new CBA world? Dollar Bill bought the team because he needed the losses (my speculation) to off set other income.
Can Oren do the same?

Interesting times.

[Another Joe]

Im just not sold on firing Feaster and Torts. I agree with trading Kuba. Kuba plays great for 3 games then he is terrible for 6 or 7 games.

I also would like to stick with Richards.

Whatver we disagree on we are all still bolts fans and agree some changes are needed, even if we dont agree on exactly what those changes are.

[Mike13]

Oh yeah, as for the "sale", I say - talk to me again when it's done. Then I'll believe that the Lightning have been sold.

[Mike13]

Another Joe & Wiggy: I like your to-do lists. I would like to offer a compiled list, but one that is slightly modified...

Fire Feaster and hire pretty much anybody from this blog (except Leo...he'll trade away Vinny 4 and the fans will lynch him. He seems like a good Habidasher fan and we don't want to see him get hurt).

Trade Richards. And not for a bag of pucks as some have suggested. At least get a new zamboni or something.

Re-sign Boyle & Prospal.

Trade Kuba for a rough, stay-at-home defenseman.

Can we trade Tortorella for Lindy Ruff (the coach from Buffalo)?

On July 1st, announce a contract extension that will keep VL4 in Tampa for 5-10 more years.

On July 1st, announce the signing of a true #1 goalie.

[ajax]

I tried for an hour to find something out about Koules and his finances on the web. Nada. Anyone? Davidson was listed as 68th of Forbes list of richest Americans at 4.5 Billion. And he couldn't spend the cap? Show's you how little they "loved" being owners. Seems all Koules has ever done is the Saw movies. Not good. But, rosies in hand, what good are super rich tight wads???

[jake]

Yes Tort needs to go. His style doesn't mesh well with the vets anymore. You can see that with Prospal's comments the other night.

Hopefully this guy really is determined to win, because I would hate to see this team and its core sold off piece by piece.

[jr]

Who can really trust this? We know the purchase price would have to be less than $200 million. The land and value of the franchise have taken a nosedive since August.

What's the name of the lender? I missed that..let me read it again...hmm, I don't see any lender's name.

I believe the phrase "definitive purchase agreement" was used in August with Absolutely Horrible Hockey.

[wiggy]

Joe, those aren't the top priorities. First they need to:

Trade Richie
Trade Kuba
Fire Torts
Fire Feaster

Now they will be able to do your four.

[keith]

Please sir, can we have some more..money!

[keith]

Welcome to the jungle................!

[Another Joe]

Cool top priorities:

1-Resign Boyle to new contract.
2-Extend Vinny4 for at least 5 more years.
3-Get a goalie to tandem with Ramo.
4-Extend Prospal

[jlo]

Whatever they do, don't fax him the final agreement!

[jim from nj]

sorry. I meant "not" giving input

[jim from nj]

I like his tenacity. But this deal has more sequels than "the land before time" movies and he's doing nothing but degrading his own future project by doing this now and giving input for the team in such a crucial time for the locker room