Vinik sells portion of Tampa Bay Lightning

By FOX 13 News Staff
Published  October 24, 2024 11:19am EDT
FOX 13 News
Loading Video…

This browser does not support the Video element.

TAMPA, Fla. - A group of investors now owns a portion of the Tampa Bay Lightning. 

On Thursday, Tampa Bay Lightning Chairman & Governor Jeff Vinik and Vinik Sports Group said a portion of the Tampa Bay Lightning and Vinik Sports Group was sold to a group of investors led by Doug Ostrover and Marc Lipschultz.

The transaction was approved by the NHL’s Board of Governors on October 1, 2024, and takes effect immediately.

According to a press release, Vinik will be the team’s governor and will be in full control of the Lightning for the next three years. Then, control will be transferred to Ostrover and Lipschultz. 

Vinik, along with Ostrover and Lipschultz, have also formed a board of directors to oversee the organization's strategic direction. 

After he hands over the reins, Vinik will remain an active ownership partner as an alternate governor and Vinik Sports Group board member.

READ: Lightning owner Jeff Vinik looking to sell portions of team, reportedly valued at nearly $2 billion

Officials say there will not be a change in the day-to-day operations of the Lightning and Vinik Sports. 

Vinik Sports Group and Tampa Bay Lightning CEO and Vice Chairman Steve Griggs and Lightning General Manager Julien BriseBois will both remain in their positions and serve as alternate governors with the NHL. 

"Since 2010, we have focused on building the Lightning into a world-class organization, and now we’ve found world-class partners who share in our mission of being a community-first organization," said Vinik. "Doug and Marc share my commitment to providing the Lightning with all the resources they need to excel and are excited to become part of the Tampa Bay community. 

I’m confident that together, with the ongoing leadership of Steve Griggs and Julien BriseBois, this organization will continue to find success."

As part of the deal, officials say Arctos will sell a portion of its interest in the team alongside Vinik and remain a minority partner in the franchise. 

The owners say they are still committed to giving the hockey operations team all the resources necessary to bring the Stanley Cup back to the Bay Area. 

STAY CONNECTED WITH FOX 13 TAMPA: