Money Moves’ Message Unclear
May 5th, 2009
Bolts owners Oren Koules and Len Barrie have made significant financial moves recently
By AMANDA HARRIS
If the recent dabbling of Lightning co-owners Len Barrie and Oren Koules into the world of real estate is any indication of the duo’s negotiating skills and business savvy, I’m afraid Bolts fans are screwed.
Or are we?
Reports surfacing last month indicate Koules got out from under sold his Beverly Hills monstrosity in early April for roughly $4.25 million under his asking price.
Barrie, on the other hand, is still looking to offload Bear Mountain Resort to a Dubai real estate group. The proposal has been in limbo for months and Barrie, struggling to seal the deal and raise some capital, is now offering up to 40 percent off select luxury condominiums.
So considering the number of free agents the Bolts will contend with this summer, the ongoing salary cap issues with which all clubs grapple, and the potential scenarios surrounding a most-coveted draft pick, we must now decide whether to look at Tampa Bay’s glass as being half-full or half-empty.
Is the fact both Barrie and Koules appear determined to maintain liquidity indicative of a pro-active ownership making moves to ensure the resources are available to help the Lightning both on and off the ice?
Or, is the duo’s “we’ll take what we can get” mentality symptomatic of a cash-strapped organization doomed to repeat the mistakes of the past season by gambling on costly acquisitions that fail to make the grade on the frozen stuff?








May 7th, 2009 at 9:13 am
[...] employees to park earlier this season, other cost-cutting measures, and Koules and Barrie’s moves in the real estate market, and you have to think there’s a good chance the team is in financial [...]