Tampa Bay Lightning owner Jeff Vinik made a big announcement on Thursday, revealing that he has sold a majority stake in the NHL team. However, he will still be in control of the franchise for the next three years. The sale was approved by the NHL board of governors on October 1st and was made to a group of investors led by Doug Ostrover and Marc Lipschultz. The exact price of the sale was not disclosed.
Despite selling the majority stake, Vinik will retain full control of the team and will continue to act as the Lightning’s governor. A board of directors has been created by Vinik, Ostrover, and Lipschultz to oversee the strategic direction of the organization. In three years, control of the team will transfer to Ostrover and Lipschultz, with Vinik remaining as an active ownership partner as an alternate governor and Vinik Sports Group board member.
Since taking over the team in 2010, Vinik has led the Lightning to the playoffs 11 times in 14 seasons and has secured two Stanley Cup titles. Vinik expressed his excitement about the new partnership, stating that he and his new partners share a commitment to making the Lightning a community-first organization. He believes that the new investors will provide the team with the resources needed to excel and are eager to be a part of the Tampa Bay community.
Despite the ownership change, day-to-day operations of the club will remain the same, with CEO and vice chairman Steve Griggs and general manager Julien BriseBois retaining their current positions. Vinik emphasized the importance of bringing in partners who share the same values and commitment to the team’s culture in order to ensure long-term success for the Lightning. He is proud of the legacy that has been built and wants it to continue for generations to come.
Overall, the sale of the majority stake in the team marks a new chapter for the Tampa Bay Lightning. With the continued leadership of Jeff Vinik and the addition of new investors, the team is poised for continued success both on and off the ice. Fans can look forward to seeing how this new ownership arrangement will impact the team in the seasons to come.