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Bolts Sale Hits A Snag
by Paul on 02/09/08 at 07:47 PM ET
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from Lightning Strikes,
The bank, Societe Generale, with main offices in Paris, that was going to lend a group led by Hollywood producer Oren Koules up to $110-million to help with his purchase of the Lightning from Palace Sports & Entertainment has closed its sports lending business, a story in Street & Smith’s SportsBusiness Journal said.
The move has not killed the deal, Lightning officials said, but Koules must now look for alternative forms of financing, something not easy given the nationwide credit crunch. Expect Koules to need three to four weeks at least to secure alternative financing.
Filed in: NHL Teams, Tampa Bay Lightning | KK Hockey | Permalink
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