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-   -   Vinik Bids on Channelside (http://boltprospects.com/forum/showthread.php?t=10497)

WaiverWire 06-27-2014 11:03 PM

Vinik Bids on Channelside
 
From TBO. Reports say he has bid $7,100,000 for Channelside.


Quote:

Vinik’s bid was buried in a 170-page court document filed late Friday with a federal bankruptcy court in Delaware. The document also includes Vinik’s proposed purchase agreement and other legal paperwork for a prospective sale if he prevails at auction.



To help make that bid, Vinik turned to a longtime associate, Jac Sperling, a financial adviser and sports industry operative whom the NHL helped introduce to Vinik as a guide in the acquisition of the Tampa Bay Lightning hockey team in 2010.
Quote:

That document named CBP Development LLC, a company controlled by Vinik, as bidding $7.1 million for the lease to the property. If his bid for the lease is not successful, he’s also bidding $3 million for the mortgage on Channelside, which presumably would enable him to take over the lease.
http://tbo.com/news/business/vinik-b...side-20140627/

Top Shelf 06-28-2014 07:40 AM

Seems like a steal. What am I missing?

WaiverWire 06-30-2014 07:14 PM

Plans released for his vision of Channelside.

Quote:

Though still in the development phase, Vinik’s plans envision a redeveloped Channelside, but also new connections to the overall neighborhood to create a much wider entertainment, shopping and hotel neighborhood next door to the Forum where his team plays.



“Tampa deserves better,” than the current state of Channelside Bay Plaza, said Tod Leiweke, chief executive officer of the Lighting, and the top executive in charge of Vinik’s plans for the neighborhood. “Why aren’t people coming out of events at the Forum and going to Channelside in droves? This could be a place with high energy.”

http://tbo.com/news/business/vinik-t...live-20140630/


And then there is this. This week there is the release about the cruise industry and The Port of Tampa. The Florida Department of Transpiration prepared this study. It is not going to be a pretty picture.

http://tbo.com/news/business/study-s...stry-20140630/

Hillsborough County has land on the other side of the Skyway. I believe it was Commissioner Crist that first suggested the port build a new cruise ship terminal there. And since this would allow St Pete to control the land around the terminal, since it would be surrounded by the city limits, St Pete would reap the benefits of the travelers. In exchange St. Pete could allow the Rays to move.

Mr. Vinik is not a stupid man. He is buying up this land for a reason. I do believe that St Pete will let the Rays go for the right price and the terminal may be the answer.

the_narrow_way 06-30-2014 09:56 PM

It is rather sad, upon leaving a game and looking for somewhere to hang-out and discuss the game, and there are so few options. I hope Vinik finally gets something going.

Bolthed 07-01-2014 12:03 AM

Maybe Vinnik can buy the Rays while he's at it. I like Sternberg and Friedman just fine, but they act like their shit don't stink, as if they've won 3 World Series when all they've done is gotten a historically bad team to the playoffs a few times. Not to take away from that monumental accomplishment, but that franchise has stagnated a bit. I dunno. Teams that aren't built or building to win it all frustrate me like nothing else. We are truly lucky to have the Lightning.

WaiverWire 07-01-2014 07:48 AM

Quote:

Originally Posted by Bolthed (Post 171132)
Maybe Vinnik can buy the Rays while he's at it. I like Sternberg and Friedman just fine, but they act like their shit don't stink, as if they've won 3 World Series when all they've done is gotten a historically bad team to the playoffs a few times. Not to take away from that monumental accomplishment, but that franchise has stagnated a bit. I dunno. Teams that aren't built or building to win it all frustrate me like nothing else. We are truly lucky to have the Lightning.

I would not be surprised if he becomes part owner even if in a minority ownership role. I think he still holds a minority of the Red Sox.

Scobo_24 07-01-2014 08:49 AM

Quote:

Originally Posted by WaiverWire (Post 171148)
I would not be surprised if he becomes part owner even if in a minority ownership role. I think he still holds a minority of the Red Sox.

my bet is he doesnt touch the rays. he owns part of the red sox because they are a wise investment. unless the rays get unlocked from st pete, no owner with any amount of money will be able to "revive" them in tampa nor st pete. It is wishful thinking, but also with the no-salary cap in baseball... I think other investments would suffer (lightning, channelside, etc)

I hope he gets channelside and can rebuild to what he envisions. If he can do what he did to that stadium to the whole are... could be a huge attraction for Tampa.

WaiverWire 07-01-2014 09:04 AM

Quote:

Originally Posted by Scobo_24 (Post 171159)
my bet is he doesnt touch the rays. he owns part of the red sox because they are a wise investment. unless the rays get unlocked from st pete, no owner with any amount of money will be able to "revive" them in tampa nor st pete. It is wishful thinking, but also with the no-salary cap in baseball... I think other investments would suffer (lightning, channelside, etc)

I hope he gets channelside and can rebuild to what he envisions. If he can do what he did to that stadium to the whole are... could be a huge attraction for Tampa.

He hasn't bought all that property, which is a footprint for a baseball stadium, for nothing. And he sure won't give up that land, but I am sure he would take a minority stake in the team for the use of the land.

Like I said. Victor Crist has a great idea. In a few years the mega ships can not use the Port of Tampa due to the Skyway. But the Port can build on property they own adjacent to St. Pete. His idea is St Pete let the Rays come to Tampa, and the Port gives St Pete something they always wanted...........cruise ships.

I see a deal within 3 years and funding for the park and construction taking place in 5 years.

Sotnos 07-01-2014 09:13 AM

Quote:

Originally Posted by Scobo_24 (Post 171159)
I hope he gets channelside and can rebuild to what he envisions. If he can do what he did to that stadium to the whole are... could be a huge attraction for Tampa.

Same here. If the Rays move it'll be out of this area completely, imo.

uf1910 07-01-2014 09:23 AM

Quote:

Originally Posted by Top Shelf (Post 170643)
Seems like a steal. What am I missing?

Highly depressed that needs alot of work to make it a "destination". Whoever buys Channelside will need to put significant amounts of $ in to spruce up the joint and make it a place that people want to go instead of a place that people can go


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