Tampa, FL -- (Sports Network) - The whirlwind offseason for the Tampa Bay Lightning continued on Friday when general manager Jay Feaster announced his resignation.

Feaster had been the club's GM since the 2001-02 season and his tenure was highlighted by a Stanley Cup championship in the spring of 2004. However, the recent change of ownership apparently played a role in his decision.

"For the past two weeks I have watched from the sidelines as Brian Lawton, Len Barrie and Oren Koules executed to perfection the game-plan they shared with us prior to the NHL Draft in Ottawa," Feaster said in a statement. "During that time it became apparent to me that this new ownership group did not need my advice or expertise, and I came to the conclusion that it was time to move on. When I expressed that sentiment to Oren and Len they immediately agreed to honor my contract and accept my resignation. I thank them for working with me through a difficult time and I wish them every continued success."

Koules and Barrie took over as the club's owners June 23 and Lawton was hired as vice president of hockey operations two days later.

"We thank Jay very much for his service to the Lightning organization and the Tampa Bay community," said Koules and Barrie. "He built a great foundation for this franchise, highlighted of course by the great Stanley Cup victory in 2004. He has been nothing but the ultimate professional through the process of our ownership transition and we wish he and his family the very best moving forward."

Feaster joined the Lightning as assistant GM on October 20, 1998 and held that position until his promotion to the top job on February 10, 2002. The club posted 207 wins and compiled a .547 winning percentage, while capturing a pair of Southeast Division titles under his watch.

The Lightning have made news on a consistent basis since the ownership change in late June.

One day after the transfer was announced, Barry Melrose was named head coach. Lawton joined the club the next day and the team has been extremely active in player movement since. Superstar Vincent Lecavalier agreed to a nine-year deal and the club acquired Ryan Malone and Gary Roberts from Pittsburgh just before the free agent period began.

The Lightning have signed veterans Mark Recchi, Vaclav Prospal, Olaf Kolzig and Radim Vrbata since the beginning of July, while also trading defenseman Dan Boyle to San Jose for a couple of draft picks, including a first-round selection next year, and promising young defensemen Matt Carle and Ty Wishart.