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Sale process almost complete, now in final stage


I’ve had some ask me about where things stand on the sale, since it’s been a week since we were told things would be in the final stages within a couple of days. Well, after a Wednesday conference call between Oren Koules and league officials, the process is now in the final stages before Koules takes over the franchise. The final pieces of paperwork are all but turned in to the league, with only minor bits of information still to turn over.

NHL Deputy Commissioner Bill Daly confirmed tonight that the league has begun its due diligence process, which is the final piece of the puzzle before they report and put up it up for vote to the Board of Governors, a process that should take about four to six weeks.

“We are in the process of doing our due diligence on the transaction and will make a report to the Executive Committee, and then to the Board of Governors,’’ Daly said by email Friday. “There is nothing more I can say while the transaction is being reviewed.’’

Unless something pops up in a background check of some sort with one of Koules’ partners (only one of which has publicly confirmred, that being Koules’ partner with Evolution Entertainment Mark Burg, although former player Len Barrie and California finacier Russell Belinsky have been rumored to be part of the ownership group), then the approval becomes as much of a formality as this type of process can be.

Sounds like it’s all but done at this point, and though a Board of Governors meeting is scheduled around the time of the NHL Entry Draft in late June, a vote could be done via fax before then so it seems that Koules will be in charge of the team before the draft and before they draft Steven Stamkos

By the way, check out the link above. The Lightning certainly are not hiding their intentions of drafting Stamkos when they walk to the podium in Ottawa on June 20.

On another note, Team USA and head coach John Tortorella won its opening game tonight against Latvia 4-0 in the World Championships. Marty St. Louis notched a goal for Team Canada in a 5-1 defeat of Slovenia. Defenseman Filip Kuba had an assist for the Czech Republic in a 5-2 victory against Denmark. Team Finland, with Jussi Jokinen and Karri Ramo, start off Saturday against Germany.

Track the results here.

Send Us Your Comments

Posted by  earl scott, brooksville on 05/06  at  07:38 AM

I agree...Feaster is/and has been the problem...also to blame is our ENTIRE scouting team....but aren’t they hired by...FEASTER ????? feaster..GONE...scouts...GONE...torts...stays.............


Posted by  Anthony, Tampa, FL on 05/05  at  07:27 PM

Why should we keep him around here if he is making poor decisions?


Posted by  Dave, St Pete on 05/05  at  04:28 PM

Erik, Whats your take on the Torts ordeal.  I havent seen you report anything.  I personally do not think he is at fault as much as management.  Poor personnel decisions made his job almost impossible.  I am one fan’s vote to keep Torts around here for a long time.


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