TAMPA - Tampa Bay Lightning owner Jeff Vinik and his partners have suspended their bid to acquire Channelside Bay Plaza. A spokesman said there was a significant legal hurdle that could not be overcome.
Over the last year or so, groups with ties to Vinik had purchased several vacant properties around the Tampa Bay Forum and the Lightning owner said he aimed to turn Channelside and the rest of his new vacant properties into a "world class facility" where "people want to go, where people want to spend money."
However, Vinik's group, Metis Channelside LLC, announced today that they would no longer be pursuing the purchase of the Channelside Bay Plaza.
“After working diligently and patiently for months on the Channelside project, we have come to the conclusion that a significant legal hurdle, beyond our control, could not be overcome,” said Tod Leiweke, Chief Executive Officer of Tampa Bay Sports and Entertainment, which controls the Lightning and the Tampa Bay Times Forum. “We see great potential for the waterfront and other properties in the Channelside District and at this time, we are focusing our energies on some of those spaces.
“We thank each board and staff member of the Tampa Port Authority and remain hopeful that a positive outcome can be achieved for Channelside Bay Plaza as we believe its vibrancy is part of the total solution for the area.”
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.