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Oren Koules, a Hollywood producer, heads up the team which is expected to finalize the sale from Bill Davidson and Palace Sports & Entertainment June 30. Former NHL player Len Barrie is also part of the group.

It was reported the new head coach will be Barry Melrose. Melrose, an NHL analyst for ESPN, has not coached a team since he left the Los Angeles Kings during the 1994-95 season. He guided that team to its first and only Stanley Cup Finals appearance.

The Lightning will replace John Tortorella, who was fired June 3 with one year remaining on his contract. Tortorella led the Lightning to a Stanley Cup championship after the 2003-04 season, but the club was bounced in the first round of the next two playoffs and finished this season last in the NHL.

Koules's producing credits including the TV comedy "Two and a Half Men" and the "Saw" horror movie franchise.

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