Lightning owner Jeff Vinik confirmed on Tuesday that he is in talks to expand the ownership circle, but reiterated that there will be no changes to the club’s day-to-day operations.
According to a report from Sportsnet’s Elliotte Friedman, the Lightning have begun a multi-stage sale process that will value the team at nearly $2 billion. The report included the name of Doug Ostrover – co-founder and CEO of investment firm Blue Owl Capital – as a potential buyer.
A deal has not yet been finalized, with discussions ongoing. As part of the deal, Vinik will retain full operational control of the organization for the next few years, according to 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 changes to 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 the “savior” of the franchise, which won back-to-back Stanley Cups in 2020 and 2021. NHL Commissioner Gary Bettman called him an exemplary owner.
Vinik sold a minority stake in the team to Arctos Sports Partners in January 2022.
After Vinik sold the minority stake in 2022, he said The athlete which, after all the success, still drove him to become the owner of the team.
“Other than my family, that’s what I enjoy most,” he said. “I find it more fun and fulfilling to own the Lightning, work with great people in the organization and be part of the Tampa Bay community. That’s what I love to do and what I want to continue to do for the foreseeable future. And I hope that future includes another Stanley Cup or two.”
When asked at the time what he meant by “foreseeable future” in terms of his majority ownership, Vinik said, “I can’t, but I can’t imagine 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 own the majority ownership.”
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(Photo: Scott Audette / NHLI via Getty Images)
