Window Closes For Barrie To Buy Out Koules' Lightning Share
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Barrie (l) Reportedly Unsuccessful
In Buying Out Koules (r) |
The future of the Lightning is "now in Oren Koules' hands," as fellow co-Owner Len Barrie's window to buy out Koules "is now closed," according to sources cited by Elliotte Friedman of the CBC. Barrie's "drop-dead date" to buy out Koules "was supposed to be Wednesday, but his pursuit came to a premature conclusion when he couldn't meet several conditions along the way." Friedman noted Barrie was "given the first opportunity to put together enough financing to buy out Koules' share, but failed," and Koules now has until November 23 "to put together a package of his own." Koules is "working with one potential partner," Miami-based real estate investor Jeff Greene. But if Koules "can't close the deal, there is an interested third party," as Sansone Group Principal Tony Sansone Jr. last Thursday "met with the NHL" in N.Y. Sansone, who "once considered buying the Blues, was originally talking with Barrie but is now looking into the possibility of buying the Lightning on his own." NHL Deputy Commissioner Bill Daly confirmed the meeting with Sansone, but "warned that it would be 'premature' to say that Sansone is a serious contender to be the Lightning's next owner" (CBC.ca, 9/21). Daly confirmed that Greene, working with Koules to buy out Barrie, "filed a league ownership application," and in St. Petersburg, Damian Cristodero reports the NHL "has not said the same about" Sansone. Greene said, "There are all kinds of details to iron out. But right now, everything looks very positive." Greene, who Forbes magazine estimates is worth $1.3B, said his interest in the Lightning would be between 50-100%. Greene added that Koules "would continue to have a role and buying out Barrie 'is definitely the intention'" (ST. PETERSBURG TIMES, 9/22).
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