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  #11  
Old 07-01-2014, 09:34 AM
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Originally Posted by uf1910 View Post
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
Just like he did with the Forum.

channelside was just "thrown" together. We now have someone that has a real vision and a team that can do something the Port could never do.

Last edited by WaiverWire; 07-01-2014 at 09:39 AM.
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  #12  
Old 07-02-2014, 02:04 PM
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Mr. Vinik has won the auction with his bid. The Port also won the bid to take over the mortgage from the bank.

Mr. Vinik has also pledged to put up a $10,000,000 letter of credit and wants to start the renovations as soon as possible.

Next step is for the judge to sign off on everything. This should take place July 15th.

http://tbo.com/news/business/vinik-p...tion-20140702/
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  #13  
Old 07-02-2014, 03:17 PM
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I trust his vision for the area, so I'm glad he won this (finally) and hope that's the end of this with no more wrangling.
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  #14  
Old 07-02-2014, 04:36 PM
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Question, would he have to sell his minority ownership of the BoSox if a Rays stadium was built on the land he owns?

Not saying he buys the team, just leases out the land to the stadium that houses the team.
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  #15  
Old 07-02-2014, 04:45 PM
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Originally Posted by ChaseSpace View Post
Question, would he have to sell his minority ownership of the BoSox if a Rays stadium was built on the land he owns?

Not saying he buys the team, just leases out the land to the stadium that houses the team.
Good question. I would think not as he would have nothing to do with the team other than being a landlord.

I hope he does sell his stake in the team and is given part ownership in the Rays for his land a long with the first right to buy them out.

I know several owners at Channelside and I bet they are celebrating this news.
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  #16  
Old 07-02-2014, 05:32 PM
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Quote:
Originally Posted by ChaseSpace View Post
Question, would he have to sell his minority ownership of the BoSox if a Rays stadium was built on the land he owns?

Not saying he buys the team, just leases out the land to the stadium that houses the team.
I'm pretty sure the only reason he would "have" to sell his BoSox ownership stake would be if he was becoming part owner of the Rays as there is specific language that owners can't even partly own multiple franchises due to the obvious issues with possible conflict of interest etc. Ownership of land with regards to the stadium would not fall under this umbrella provided he is nothing more than owner of the land and the Rays ownership (whether Sternberg or anyone else) pay rent or leases the land for the stadium.

Financially speaking, I'm not sure Vinik wants anything to do with actually owning the Rays. With the economic system of baseball as it is, small markets like Tampa are generally speaking break even at best. The constant battle year after year to just field a competitive team much less a profitable one lends me to think that a lease type situation is more likely simply b/c Vinik is too damn smart with his money to enter into a more than likely losing proposition.
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  #17  
Old 07-02-2014, 05:36 PM
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Quote:
Originally Posted by ChaseSpace View Post
Question, would he have to sell his minority ownership of the BoSox if a Rays stadium was built on the land he owns?

Not saying he buys the team, just leases out the land to the stadium that houses the team.
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Rule 20

CONFLICTING INTERESTS

(a) OWNERSHIP AND FINANCIAL INTERESTS. No Club, or owner, stockholder, officer, director or employee (including manager or player) of a Club, shall, directly or indirectly, own stock or any other proprietary interest or have any financial interest in any other Club in its League, provided, however, that any owner or stockholder of a Major League Club (who is not also an officer, director or employee of a Club) whose interest does not exceed 5% of such Club and whose interest does not constitute a control interest (as defined in Article V, Section 2(b)(2) of the Major League Constitution) may own a non-control interest not exceeding 5% of any other Club or Clubs in its League, unless the Commissioner determines that such ownership would not be in the best interests of Baseball.
From the MLR (Major League Rules) within MLB's Constitution and Bylaws
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  #18  
Old 07-09-2014, 08:34 AM
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Liberty challenges Lightning owner Jeff Vinik's winning Channelside bid

Another bidder is accusing Vinik's group of colluding with the seller to win the auction.
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  #19  
Old 07-09-2014, 12:07 PM
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Originally Posted by Sotnos View Post
Liberty challenges Lightning owner Jeff Vinik's winning Channelside bid

Another bidder is accusing Vinik's group of colluding with the seller to win the auction.
I don't think the judge will buy it as Liberty was at the auction and had the opportunity to bid and they chose not to. If they had a bid I think it would had been different.

As far as scaring others away they will have to have someone come forward and make this claim. But if no one else had any contact with the bank or the port's study I think this is a hard claim to prove.

We will know next Tuesday.
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  #20  
Old 07-09-2014, 08:52 PM
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Boo f'ing hoo. Actually bidding during the bidding time seems like a smart idea, eh? Maybe Liberty should have, you know, bid then.
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