Sources Say Proposed Sale Of NHL Panthers To SPAC Derailed

The proposed sale of the NHL Panthers to Sports Properties Acquisition Corp. (SPAC) "has been derailed, at least for now, because the terms of the deal do not satisfy the NHL's ownership requirements," according to sources cited by Barry Jackson of the MIAMI HERALD. The NHL "recently balked because" SPAC does not have a "primary investor with a substantial equity stake." A source said that it is "possible the deal could be revived if the terms are changed to accommodate the NHL, but the Panthers are not optimistic that will happen and instead have been focusing on adding a partner who could relieve some of the financial burden" on team Owner Alan Cohen (MIAMI HERALD, 9/10).

LIGHTNING STRIKE: In St. Petersburg, Damian Cristodero reports Miami-based real estate investor Jeff Greene, who Forbes magazine estimates is worth $1.3B, "could become part of" Lightning co-Owner Oren Koules' "effort to buy out partner Len Barrie." However, "nothing has been finalized and it is believed Greene's interest is preliminary" (ST. PETERSBURG TIMES, 9/10).