Jeff Vinik to sell minority share of Tampa Bay Lightning

TAMPA — Jeff Vinik plans to sell a minority share of the Tampa Bay Lightning.

He sent a statement to the Tampa Bay Times late Thursday saying he is in talks to sell an undisclosed share of Vinik Sports Group, which owns the Lightning and manages Amalie Arena, to an undisclosed buyer.

Vinik, 62, said he plans to retain control of the company and the defending Stanley Cup champions.

“I can confirm that we are in discussions to sell a minority position in Vinik Sports Group,” Vinik said. “If a minority sale is finalized, I will maintain control of Vinik Sports Group and nothing will change with respect to the daily operations and objectives of the Tampa Bay Lightning.

“If and when a transaction is complete, I will comment further at that time.”

The NHL Board of Governors met Thursday in the small beach community of Manalapan in Palm Beach County and approved a change in Lightning ownership allowing a “limited partnership,” according to Frank Seravalli of the Daily Faceoff.

However, the minority partner was not named. There were reports on social media that the deal involves 20 percent of Vinik Sports Group.

Vinik was a hedge fund manager from Boston when in 2010 he agreed to buy the Lightning for a reported $170 million. The franchise was struggling on and off the ice then, and Vinik was looking for a new challenge. Under Vinik, Tampa Bay has been one of the NHL’s most successful franchises and has won back-to-back Stanley Cups.

Two pieces of downtown property came with the Lightning, helping launch Vinik’s real estate ambitions. He partnered with Cascade Investment, the fund controlled by Microsoft founder Bill Gates, to create Strategic Property Partners. That entity oversees the $3.5 billion Water Street Tampa development rising up outside the arena. Strategic Property Partners is a separate entity from the Vinik Sports Group.

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