Prospective Lightning Investors Reach Settlement On Failed Bid

Absolute Hockey Enterprises Investors Reach Settlement Over Failed Bid For Lightning

Absolute Hockey Enterprises (AHE) investors Doug MacLean and Jeff Sherrin and former partner Oren Koules reached a settlement in AHE's lawsuit against Koules filed after the group failed to purchase the Lightning, according to Damian Cristodero of the ST. PETERSBURG TIMES. Koules, also the head of OK Hockey, was unavailable for comment, but said in a statement, "I am confident OK Hockey can commence and consummate a transaction with the existing owners to purchase the [Lightning]." Koules and business partner Mark Berg comprise OK Hockey, and California-based banker Russell Belinsky is also believed to be part of the group. MacLean and Sherrin accused Koules of "defaulting on his share of a scheduled $5[M] payment to Lightning Owner Palace Sports & Entertainment and going behind their backs to make his own arrangements with the company." Tom Scarritt, MacLean and Sherrin's attorney, "could not say if his clients have given up hope of owning the team." NHL Commissioner Gary Bettman brokered the confidential settlement during "a marathon session" at the league offices. Scarritt said Bettman last week "strongly suggested" he mediate the settlement. Koules, MacLean and Sherrin began negotiations Monday with NHL Deputy Commissioner Bill Daly and Palace Sports & Entertainment President & CEO Tom Wilson (ST. PETERSBURG TIMES, 12/12).