AFL, AFLPU Agree to Terms on Multi-Year CBA

Terms of a multi-year agreement between the AFL and AFLPU have been reached, the Arena Football League announced this evening.
The two sides, led by AFL Commissioner Jerry B. Kurz and AFLPU Executive Director Ivan Soto, have been in extensive meetings throughout the weekend in Chicago and have now executed a term sheet which brings the labor dispute to a close. The two parties plan to sign the full-length CBA on Wednesday, June 20th.
“I would like to thank both the AFL Labor Committee and the executives of the AFLPU for the long hours they have put in over many months, but most especially the last two days to get this deal done,” Commissioner Kurz said. “I would also like to thank our fans. We know how upsetting any disruption to the sport you love can be and we want to thank you for your patience and understanding. This has most certainly not been an easy process, but it has been a necessary process to help the Arena Football League continue to move in the right direction for our teams, players and fans. We look forward to turning our full attention back to the game on the field and enjoying the 25th season of Arena Football.”
Full terms of the deal have not yet been released, but details of the agreement will follow in the coming days.

Storm's owner Vinik expands his presence in Channelside

Jeff Vinik's drive to develop the Channelside District is moving in new directions — across the street.
Vinik, the owner of the Tampa Bay Storm and Lightning, is now part of groups that have purchased at least two properties across the street from the Tampa Bay Times Forum where his teams plays, and just down the street from the Channelside shopping complex that he hopes to purchase.
One parcel is a wedge-shaped plot that previously housed a bar called The Hut, and before that Newk's Cafe. The restaurant has remained dormant for months. Facilities staff for the Lightning were cleaning out the property this week and installing new safety railings around the outside deck.
Strategically placed, that property follows Channelside Drive to the south, Nebraska Avenue to the West and Brorein Street on the northeast.
The parcel last sold for $2.4 million in December 2010 to 514 Channelside Properties LLC — just a few months after Vinik purchased the Lightning. Officials with the team confirmed that Vinik is now a "noncontrolling" participant in that group, though they declined to say what Vinik's long-term plan could be for the property.
For now, the venue will host some events during the Republican National Convention in August, which will be held in the Forum.
In a similar move, Vinik is now part of a group that owns a plot to the west, at Morgan Street and Channelside Drive, that once held a restaurant and law firm. That property sits vacant. The plot last sold in March 2011 for $2.7 million, according to the Hillsborough County property appraiser's office.
Both properties could play into Vinik's overall plan to redevelop the much wider Channelside District as he's in the lead to purchase the Channelside Bay Plaza shopping and entertainment center down the street.
Besides the Forum, Vinik controls a large parking lot to the southeast of the stadium, plus another to the east that abuts the Channelside complex.
Mayor Bob Buckhorn has praised Vinik for his investment into the city and previously said he expects whoever owns Channelside will need help with nearby development.
"It's likely we'll limit that to things like sidewalks and landscaping," the mayor said in April. "To expect a huge investment from the city would be far-fetched."
Sometime this summer, officials with Vinik expect to present his proposed redevelopment design for the shopping complex, and they've long expressed a desire to have the overall neighborhood revamped.

Tampa Bay Storm Owner Vinik gives $10M to Duke University

A Duke University graduate, AFL & NHL owner and asset manager pledged $10 million to Duke to hire and retain professors who will work on complex societal challenges, President Richard H. Brodhead announced Tuesday.
Called the Vinik Faculty Challenge Fund, the alumnus Jeffrey N. Vinik and his wife Penny hope to see the professors focus on topics like engineering and related areas in energy, global health, brain sciences and the environment. The Viniks want the fund to create up to 10 associate or full professorships dedicated to addressing problems that affect the quality of life.
“The problems facing society today create immense opportunities for students who are capable of bridging their science and engineering education with complementary skills in economics, humanities and policy,” Vinik said in a news release. “Faculty members are the key to providing these students with an exceptional educational experience and for engaging them in hands-on research projects and independent studies that will give them the skills to become leaders in their fields and make a positive difference in the world.”
A 1981 graduate from Duke’s Pratt School of Engineering, Vinik earned an MBA from Harvard Business School, founded Boston-based Vinik Asset Management and now owns the Arena Football League’s Tampa Bay Storm and the NHL’s Tampa Bay Lightning. He is also a minority owner of Major League Baseball’s Boston Red Sox.
For more on Vinik, click here to read a recent profile of him published by the Tampa Bay Times. Or see this profile in the Tampa Bay Business Journal.