When Len Barrie and Oren Koules took over the Tampa Bay Lightning two years ago, it was an odd marriage. That marriage seems to be on the rocks even more with the reports coming out of Detroit today. Red Wings writer, Bruce McLeod, is reporting that the Lightning have defaulted on a loan with Palace Sports and Entertainment, the owners of the Detroit Pistons and former owners of the Lightning. This default would essentially revert ownership of the Lightning back to Palace Sports.
Lightning May Have Defaulted On A Loan From Palace Sports
↵McLeod has this to say about the situation:
↵↵The Palace source said that traditional financing is being sought so that the Pistons will be paid in full for the sale of the Lightning. That source also said that the NHL is setting a Feb. 15 deadline for finding new ownership.
The Lightning source, however, said that Tampa Bay ownership denies that it is working under a deadline.
↵↵While the Lightning are in no threat to be moved out of Tampa Bay, another ownership situation in the southern markets only gives material for those that feel that the teams should be contracted.
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