However it shakes out with new ownership of Channelside Bay Plaza, this much is clear: It’s a vote of confidence in the potential of the financially troubled, underperforming entertainment complex.
It’s also clear that of the three groups making bids to re-develop CBP, two of which are very well connected locally, the one led by Tampa Bay Lightning and Tampa Bay Times Forum lease owner Jeff Vinik, is the favorite. His track record and visionary Channelside commitment–including fronting $40 million for the rehab of the Forum–set him apart. As does his control of nearby property. And it hardly hurts that he’s the choice of Guy Revelle, the first-among-equals business owner at CBP.
The Tampa Port Authority owns the CBP land, although the mortgage is held by Anglo Irish Bank. The bank will formally choose the winning bid, but the port authority has veto power.