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Despite financial uncertainty, Barrie retains limited control of Bolts

Tribune file photo by SCOTT ISKOWITZ

Barrie will continue to have a say in any major transactions that would affect the Lightning franchise.

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By ERIK ERLENDSSON | The Tampa Tribune

Published: July 17, 2009

The state of flux in the Lightning ownership situation did not get any clearer after a meeting between co-owner Len Barrie and NHL league officials on Friday.

Barrie met with Commissioner Gary Bettman and Deputy Commissioner Bill Daly in the league's New York offices to discuss back payments Barrie owes, reported to be as much as $10 million, to help cover Lightning financial losses for the past fiscal year.

While it is unclear whether Barrie was able to meet a league imposed deadline to come up with the full amount, whatever agreement was made is enough to satisfy the league for the time being after Barrie provided financial paperwork to the league.

"We're satisfied with where things stand currently, and the parties are continuing to work on things as to how best to move forward,'' Daly said in an e-mail. "In the meantime, vis-à-vis the players and the other teams in the league, the franchise will continue to operate in the normal course.''

Which means Barrie will continue to have a say in any major transactions that would affect the team. In the meantime, owner Oren Koules will continue to run the franchise on a day-to-day basis as team president and governor while general manager Brian Lawton is responsible for all player personnel matters.

"The league is satisfied and things are progressing nicely,'' Barrie said through a team spokesman.

Barrie recently reached an agreement with a Dubai-based company for a reported $350 million investment in Barrie's Bear Mountain Resort and Spa in Victoria, British Columbia, although it's unclear how much affect that deal has on Barrie's ownership stake with the Lightning.

Barrie and Koules also had a meeting with Bettman in June to determine exactly who was responsible to make decisions for the franchise. After the meeting, the chain of command was defined with Lawton in charge of all decisions with both owners having to approve any major decisions, which included the signing of free agent defenseman Mattias Ohlund to a seven-year, $26.25 million contract on July 1.

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