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Len Barrie Needs $10M By Friday
by Paul on 07/14/09 at 06:35 AM ET
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from Damian Cristodero of the St. Petersburg Times,
Another chapter in the story of the Lightning’s bickering owners will play out this week, as Len Barrie has a Friday deadline to come up with $10 million to prove he can continue funding the team.
The deadline was imposed by commissioner Gary Bettman, who has ordered the participants to not speak on the issue.
Bettman acted during a June meeting in his New York office when he demanded Barrie and co-owner Oren Koules settle their financial and philosophical differences about how to build the team.
Barrie must come up with cash or an irrevocable letter of credit from a financial institution payable to the NHL. The money is to cover his share of the team’s projected losses for the fiscal year that began July 1 and provide an additional cushion.
Filed in: NHL Teams, Tampa Bay Lightning, NHL Talk, NHL Business of Hockey | KK Hockey | Permalink
Tags: Gary+Bettman, Len+Barrie,
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...as Len Barrie has a Friday deadline to come up with $10 million to prove he can continue funding the team.
Or else what…the hockey gods call him to heaven? I’m sure there some ultra rich billionaire with some pocket change out there willing to fork up the dough at the last minute.
Posted by SYF from a "Bron-Y-Aur Stomp" on 07/14/09 at 02:54 PM ET
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I guess Gary wouldn’t let Len “sell” Vinny to the Habs, there’s a good chunk of the 10 million he needs with one transaction.
Posted by dash_pinched from Rumour Mill Bay on 07/14/09 at 09:54 AM ET