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Storm clouds forming in Tampa Bay

January 24, 2010 01:19 AM | Posted by   Elliotte Friedman  

Wanted to write a little more about the Lightning, because we had to ram it in tight at the end of Hotstove.

Quick Tampa Bay primer: When they won the Stanley Cup in 2004, the Lightning were owned by Bill Davidson – who also owned the Detroit Pistons and the Palace of Auburn Hills. Davidson did the NHL a huge favour in stabilizing that team, but his true passion was basketball.

In August 2007, he sold the Lightning to a group led by Oren Koules and Len Barrie. To make a long story short, Davidson financed that deal. If, for any reason, those two could not sustain ownership, the franchise would revert back to him.

From the moment they took over the club, there’s been doubt Koules/Barrie could pull it off. About six weeks ago, I heard the NHL was advancing them money. The league denied it, the Lightning denied it – forcefully. Now, there is an admission things are tight amidst reports more money has been loaned. That’s a smart step by the NHL after it didn’t handle the Phoenix fiasco very well last year.

Bill Davidson died last March; his widow, Karen, runs the show. And, she wants nothing to do with them. (It’s not an anti-hockey prejudice. Karen Davidson is also willing to sell the Pistons, the Palace, and, according to The Wall Street Journal, a Colorado vacation home valued at $47 million, in case any of you are looking.)

Several reports indicated Feb. 15 as a drop-dead date for her. (I don’t if it’s a coincidence, but, for players – like many of you – that’s a payday.) I mentioned that in the last few seconds of our segment, but the NHL believes her feelings on that matter are irrelevant. The league is confident Davidson has a “contractual obligation” to fund the club should it be necessary. (She may sue Koules and/or Barrie, but it doesn’t free her from paying the bills.)

However, the NHL recognizes that’s a bad scenario and is doing everything possible to find new ownership. Of all the southern US teams, Tampa is one of the best situations. They’ve got a good fan base – alienated by current ownership – and two real good building blocks for the future (Stamkos/Hedman). Davidson so badly wants to get rid of the Lightning, she may be willing to take a bit of a haircut.

One potential owner, Jeff Greene, passed. Another, Anthony Sansone, hasn’t been heard from. (Who knows, maybe that means he’s still involved). The league is confident it will get this resolved, and there’s no doubt it wants to avoid any more messiness. But, the key detail is that the league believes it has the protection to prevent Karen Davidson from walking away.

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