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Tampa, Florida -- Tampa Bay Lightning owner Jeff Vinik is expected to close on its ground lease of Channelside Bay Plaza Tuesday, reports the Tampa Bay Business Journal.

Vinik's company CBP and Liberty Channelside reached an agreement back in July for his group to redevelop the retail center after a judge approved his $7.1 million bid.

SEE ALSO:Agreement reached over Channelside bid

Once everything is legal and the place gets some spit and polish, the next big step will be meeting with the business owners to discuss ideas about what Channelside should ultimately be.

Although Vinik's team hasn't revealed a master plan yet, so far, Vinik has submitted plans to the city for a 400-room hotel just north of the Forum. And his team has also hinted at the possibility of developing luxury residential units.

MORE: Vinik team gives hints of new Channelside

Here's more coverage of the Channelside sale:

Port accepts Vinik offer

See what's part of L.A. Live

Lightning owner's vision

Vinik also plans luxury hotel

Liberty offer for Channelside

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