Lightning set gears in motion for potential $2 billion move
Tampa Bay Lightning owner Jeff Vinik is currently in talks to sell a portion of the team, according to multiple reports. The party who would be purchasing the shares is reportedly led by Doug Ostrover, a co-founder and CEO of Blue Owl Capital, one of the most successful investment firms in finance today. If the deal is completed, the process will value the team around $2 billion dollars, a record fee for an NHL team.
The current Bolts owner would maintain ownership control for the next few years, and the day-to-day operations of the team would also remain unchanged for the foreseeable future. With the team looking to make another run to the Stanley Cup Final during the 2024/25 season, GM Julien BriseBois is focused on putting the best team together for head coach Jon Cooper and his staff. So, the news of the team changing hands, yet everything remaining the same for the near future is most likely welcome news for both fans and those who work in the organization itself.
Jeff Vinik has helped Lightning to most successful era in team history
Mandatory Credit: Douglas DeFelice-USA TODAY Sports
The Lightning have won two Stanley Cups under Vinik’s ownership in 2020 and 2021 and made it to two more Cup Finals in 2015 and 2022. The franchise has grown tremendously under the owner’s stewardship. Multiple star players, like former captain Steven Stamkos, defenseman Victor Hedman and goalkeeper Andrei Vasilevskiy, have helped the team during this period. Although he has played a mostly-hands off role as owner, developing and retaining players of this caliber wouldn’t be possible without Vinik in the first place. Ever since he purchased the team in 2010 for $170 million, Tampa Bay has been among the best franchises in the NHL.
So, that’s why it is imperative that the team remains under his control for the next few years. That is also why it is heartening to hear that even though Vinik is planning to sell his majority stake, he will still have a large holding in the organization.
“I can confirm that we are in discussions to further expand our ownership group of the Tampa Bay Lightning,” Vinik said in a statement to the Tampa Bay Times. “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.”
After allowing Stamkos to leave in free agency and signing winger Jake Guentzel to a seven-year contract to essentially replace the former captain, it seems to still be full steam ahead at Amalie Arena. Defenseman Ryan McDonagh was also brought back after a stint with the Nashville Predators, and BriseBois made a number of smaller moves as well. Although Vinik may not be the majority owner of the Bolts for much longer, fans and the organization will likely always treasure his ownership of the team.
The post Lightning set gears in motion for potential $2 billion move appeared first on ClutchPoints.
Welcome to Billionaire Club Co LLC, your gateway to a brand-new social media experience! Sign up today and dive into over 10,000 fresh daily articles and videos curated just for your enjoyment. Enjoy the ad free experience, unlimited content interactions, and get that coveted blue check verification—all for just $1 a month!
Account Frozen
Your account is frozen. You can still view content but cannot interact with it.
Please go to your settings to update your account status.
Open Profile Settings