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Lightning set to announce new deal with Palace Sports

Darren Dreger

1/9/2009 11:10:35 PM

Amid rumors the Tampa Bay Lightning are considering moving star players, including Vincent Lecavalier, Lightning ownership appears to be more stable than some suggest.

Sources say Tampa co-owners Len Barrie and Oren Koules are expected to announce a new three year agreement with Palace Sports. Barrie, Koules, Lightning general manager Brian Lawton and a representative from Palace Sports met with NHL commissioner Gary Bettman this week in New York to finalize the deal in hopes of ending the speculation ownership in Tampa is on shaky ground.

An announcement is expected within the next few days.

In the meantime, sources tell TSN Len Barrie has sold Bear Mountain, a golf and real estate development in British Columbia, for $500 million to a group from Dubai. The enormous sale is expected to close in mid-February.