Hopefully he has started the process of divesting himself and the Pistons will be next.

http://sports.espn.go.com/nhl/news/story?id=2964223


Group has deal in place to purchase Lightning

Associated Press

Updated: August 7, 2007, 8:57 AM ET

TAMPA, Fla. -- A group led by former Florida Panthers coach Doug MacLean has agreed to buy the Tampa Bay Lightning from Palace Sports and Entertainment.

The NHL team said Tuesday that Absolute Hockey Enterprises signed a purchase agreement that also includes the leasing rights to the St. Pete Times Forum and adjacent properties. The sale is subject to approval by the NHL's board of governors.

Absolute Hockey also includes Jeff Sherrin and Oren Koules. Team spokesman Jay Preble said Sherrin is a Coral Springs real estate developer and Koules is a TV and movie producer. Preble declined further comment until a news conference later Tuesday.

MacLean coached Florida to the Stanley Cup finals in 1996. He was fired in April as the Columbus Blue Jackets' president and general manager.

The Lightning won the Stanley Cup in 2004.

So he can afford to pay luxery taxes for the Pistons?

http://washington.bizjournals.com/tampabay/stories/2007/08/06/daily23.html


The amount of the deal was not disclosed, though sources said it could be around the $200 million mark based on current NHL team values.

Palace Sports, led by Detroit billionaire Bill Davidson, has owned the Lightning for the last eight years and has estimated losses exceeding $60 million on its original $115 million investment. The franchise had only one profitable season, in 2003-04 when it won the Stanley Cup championship.

Sell everything and will your fortune to the UM athletic department.

ughh. billy d is wise beyond his years. to the average slack jawed yokel such as me, it seems like hes selling at rock bottom. but i'd bet his prognosticators are saying itso only going to get worse. the nhl: sure was a good idea, till greed got in the way.

The amount of the deal was not disclosed, though sources said it could be around the $200 million mark based on current NHL team values.

Palace Sports, led by Detroit billionaire Bill Davidson, has owned the Lightning for the last eight years and has estimated losses exceeding $60 million on its original $115 million investment. The franchise had only one profitable season, in 2003-04 when it won the Stanley Cup championship.

I'm curious whether or not those figs include concessions and other related arena revenue. He owns the building down there, too.

I noticed in the original article that he's going to be leasing the new owners the building still.

1) He can most likely right off most of the losses as operating loss so they aren't actually felt by him.

2) If the current vaule is $200 mill and he bought it for $115. An operating cost of -$60 mill over 8 years still nets the guy a $35 million profit.