Lightning owner Jeff Vinik confirmed Tuesday he’s in discussions to expand the ownership group, but reiterated there will be no change in the day-to-day operations of the club.
According to a report by Sportsnet’s Elliotte Friedman, the Lightning began a multi-stage sale process that will value the team at close to $2 billion. The report included the name of Doug Ostrover — co-founder and CEO of investment firm Blue Owl Capital — as the potential purchaser.
A deal isn’t done yet, with this still being talks. Vinik will retain full operational control of the organization for the next several years as part of the deal, per the Sportsnet report, and will have a significant ownership stake as part of the new group.
“I can confirm that we are in discussions to further expand our ownership group of the Tampa Bay Lightning,” Vinik said in a statement. “There will be no change in the day-to-day operations of the Lightning and Vinik Sports Group. I am very excited about what is to come for the organization and we look forward to sharing more when the time is right.”
Vinik bought the Lightning in 2010 for a reported $170 million. He became a “savior” to the franchise, which won back-to-back Stanley Cups in 2020 and 2021. NHL commissioner Gary Bettman has called him a model owner.
Vinik sold a minority share of the team to Arctos Sports Partners in January 2022.
After Vinik sold the minority share in 2022, he told The Athletic what still drove him to own the team after all the success.
“Outside of family, it’s the most fun thing I do,” he said. “I get more enjoyment, more satisfaction from owning the Lightning, working with great people in the organization, being part of the Tampa Bay community. This is what I love to do and want to continue to do for the foreseeable future. And I hope that future includes one or two more Stanley Cups.”
When asked then how he’d define what “foreseeable future” meant in terms of him holding a majority share, Vinik said: “I can’t, but I can’t see not wanting to own the Lightning. You never know, things can change, but right now I love owning the team and have no plans to not continue to hold the majority share.”
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(Photo: Scott Audette / NHLI via Getty Images)
