In light of recent developments concerning Lightning (soon to be ex?) co-owner Len Barrie’s — alleged — shady financial dealings, it’s not a stretch to believe that fellow Lightning co-owner Oren Koules would take control of the team.

It may be happening quicker than one may have thought, if the information from Toronto Globe and Mail’s David Shoalts is to be believed. He writes that Koules is just days away from buying out Barrie’s share of the Bolts.

Koules, 48, is close to making a deal with the former owner of the Lightning, Detroit Pistons owner Bill Davidson, to increase his financing in order to buy out Barrie’s 35-per-cent share of the franchise. When Koules, Barrie and several smaller partners bought the Lightning in June of 2008 from Davidson, he essentially took back a mortgage that covered about half of the $206-million (all currency U.S.) purchase price.

After Koules and Barrie could no longer co-exist as owners, Bettman gave each the opportunity to buy out the other in order to bring peace to a franchise that has had more than its share of ownership turmoil since joining the NHL in 1991. Barrie was given the first opportunity to put together a buyout, but his serious financial troubles with his Bear Mountain real estate development in Victoria hampered his efforts.

What the article doesn’t state is that Davidson is no longer among the living. Koules would be dealing with Davidson’s estate, or the Davidson Group, which used to own the Bolts and currently owns the Detroit Pistons.

The Bolts have made a lot of headway in the offseason on the ice. A move like this off the ice would only make the offseason that much better in Joe’s eyes.

This entry was posted on Wednesday, September 2nd, 2009 at 7:11 am and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.