With a window of opportunity to gain control of the Tampa Bay Lightning beginning to close, co-owner Len Barrie refuted a report that he has already thrown in the towel.
The NHL gave co-owners Oren Koules and Barrie each a 60-day window to come up with the necessary funds to buy the other out of his ownership stake, with Barrie having the first crack. A report in Tuesday's Globe and Mail newspaper in Toronto claimed Barrie, who runs Bear Mountain Resort outside of Vancouver, had already informed the league office he is unable to buy out Koules.
In a message on Tuesday, Barrie denied the report, saying he is "still working on it."
Barrie has been seeking new partners to help him come up with the estimated $40 million required to purchase controlling interest in the franchise. Barrie's opportunity is believed to close on Sept. 23 before Koules is given an exclusive window to buy out Barrie.
Koules and Barrie bought the team from Palace Sports and Entertainment in June 2008, though Palace Sports and Galatioto Sports Partners financed nearly half of the $206 million purchase price.
Koules and Barrie have squabbled over the direction of the team since last season. The situation became contentious enough that NHL Commissioner Gary Bettman summoned them to New York for a meeting in June, when the groundwork was laid for the buyout plan.
It is unclear what would happen if neither Barrie nor Koules is able to take full control of the team, although it could revert back to Palace Sports.
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