Lightning Still Contemplating Sale

Owners of the Tampa Bay Lightning have until midweek to decide whether to accept a $130 million offer from William Davidson for the cash-starved NHL team, the Michigan billionaire's chief negotiator said.

Tom Wilson said Friday an agreement outline has been on the table since last week, but Lightning owner Takashi Okubo has yet to respond. Translating the deal into Japanese has accounted for some of the delay, but Wilson is concerned the offer is being shopped around.

"If they can do better than this, they're welcome to it," Wilson said. "If our offer is shopped around, we'll move on. And once we're out, we're out. We have no interest in coming to Tampa in August."

Lightning officials said they are not talking to other prospective ownership groups.

Davidson, 75, owns the NBA's Detroit Pistons and its home court, The Palace of Auburn Hills, among several entertainment interests.

Wilson said timing is critical to the deal because Davidson would need several additional weeks to modify existing contracts the Lightning have with vendors and major creditors.

New York attorney Stephen D. Wayne, who represents the Lightning's Japanese parent company, Kokusai Green, refused comment when contacted by the Tampa Tribune.

Wilson said he's willing to be somewhat lenient, considering the complexity of the deal and the club's intricate chain of command. But, he added, Davidson will skate if there is no response by midweek.

"We have agreed on the financial terms. And we feel we bring something positive to the community and to the franchise with the strength of our group," Wilson said. "We'd like an answer quickly, we're ready to move on this."

The Lightning are acknowledged to be $103 million in debt, and the Tribune reported that payroll is the only financial obligation currently being met.

NHL commissioner Gary Bettman last month brought club officials and Davidson together in hopes of sparking a deal.

Home attendance dropped 20 percent this past season, the Lightning's worst in their six-year history. Tampa Bay went through three head coaches in finishing 17-55-10, worst record in the NHL.

The Lightning announced this week it would slash season-ticket prices for the upcoming season. Wilson said Davidson also is confident he can book an additional 30 to 40 events per year at the Ice Palace.