TAMPA, Fla. -- The Tampa Bay Lightning have a new owner.
Boston hedge fund manager and Boston Red Sox minority owner Jeff Vinik ended weeks of speculation and rumour by agreeing to buy the Lightning and other related assets from Oren Koules and Len Barrie, the NHL team announced Friday.
“Buying the Lightning and joining the Tampa Bay community is a dream come true,” Vinik said in a press release. “I’ve been an avid hockey fan my whole life and I pledge to our fans that I will work my hardest to build the Lightning into a world class organization both on and off the ice. I hope to bring a high level of excitement and intensity back to Lightning hockey, with a goal of having the team consistently compete for the Stanley Cup. I have a passion for the game and will do my best to restore a winning culture at the St. Pete Times Forum that all of our fans and partners can be proud of.”
Pending approval from the NHL board of governors, the sale to Vinik will include the Lightning, the company that operates the St. Pete Times Forum and two parcels of land adjacent to the club's arena.
Koules and Barrie, who will not retain a minority ownership in the team, bought the Lightning for around $200 million in June 2008. The estimated sale price is reportedly in the range of $170 million.
“The day is a bittersweet one for us, as I believe we have established a strong foundation on the ice and begun to point things in a positive direction for the Lightning,” Koules said in the release. “We look forward to seeing Jeff take the team from here and move it forward. I believe we are leaving him with some great pieces in place and hopefully he can build upon them to deliver a consistent winner in the future.”
Vinik, 50, is the founder and chairman of Vinik Asset Management and a minority owner of the Red Sox. he is a graduate of Duke University and holds an MBA from Harvard Business School.
