Vinik Reportedly Negotiating Lower Sale Price For Lightning

Lower Sale Price Presumably Would Increase Chances Lightning Could Keep Lecavalier

Red Sox investor Jeffrey Vinik's efforts to buy the Lightning have "hit a snag in recent days, but it won't be enough to keep Vinik from buying the franchise," according to Ken Campbell of THE HOCKEY NEWS. Vinik is still expected to buy the NHL club from OK Hockey, but "there has been a twist." The prospective owner originally wanted Lightning C Vincent Lecavalier to "waive his no-trade clause" in order to rid the team of his 11-year, $85M contract. But Vinik apparently has "come to realize there would be considerable backlash in the local market to that move, so he is negotiating to bring the purchase price" down from $170M to $140M. That presumably would make it "more palatable to keep Lecavalier." Sources indicated that Vinik thought the $170M sale price was "too much, but was willing to pay it, but only if it meant Lecavalier could be moved." Campbell noted it has been "speculated the sale price could very well have already been agreed upon, but the two sides are haggling over what will be the announced price." It is believed that NHL Commissioner Gary Bettman would "make keeping Lecavalier for at least three years a requirement of the sale at a reduced price, but going down that much in price would certainly be a hit to Bettman’s attempts to keep franchise values high." Lightning co-Owners Oren Koules and Len Barrie bought the franchise in '08 for $200M, and Bettman "apparently wanted to get that much" in this sale to Vinik, which also includes the team's lease at St. Pete Times Forum and land adjacent to the arena. A source indicated that once this transaction is completed, the league "will then have to deal with the probable sale" of the Stars (THEHOCKEYNEWS.com, 2/2).

ON THE DOORSTEP: In St. Petersburg, Damian Cristodero reports a "marathon meeting in the NHL's New York offices that went into early Tuesday morning apparently moved" Vinik a "big step closer to his expected purchase of the Lightning." It is unclear how much work remains, but Koules was at the meeting, as were reps for Palace Sports & Entertainment, Vinik and Barrie. It is unknown to "what degree Koules or Barrie will be involved, if at all, if a deal is completed, though the scuttlebutt is Vinik is not bringing in outside investors" (ST. PETERSBURG TIMES, 2/3).

TIME FOR A CLOSER LOOK: THE HOCKEY NEWS' Campbell wrote Bettman's "integrity is on the line" with the Lightning sale because it is his "regime that is, in large part, responsible for this mess in the first place." Bettman and the NHL "failed to do their jobs in vetting another potential owner when it allowed Len Barrie to enter the club." The issue with the Lightning "wasn't the ownership," it was "half the ownership and that half was represented by Barrie." Campbell: "We can only hope Bettman and his office vet Vinik a little better than they have owners in the past" (THEHOCKEYNEWS.com, 2/1).