Record breaking sale of the Tampa Bay Lightning almost finalized
Photo credit: Tampa Things
Multiple sources around the league are reporting that the Tampa Bay Lightning are finalizing a deal that will see them sold for a record breaking $2 billion (US).
The deal isn't officially done yet and there will not be an immediate change of ownership, as well as no change in the day-to-day operations of the team.
As per Elliotte Friedman, it appears that the new owner of the Lightning will be Doug Ostrover, who is the co-founder and CEO of Blue Owl Capital, which is an investment firm that has been very successful over the years.
Current owner Jeff Vinik is very popular in the Tampa region for all of the work he's done with the team over the years and the good news for fans is that he will retain full operational control of the franchise for many years to come. He will also continue to have a big chunk of ownership stake as part of the new group.
Jeff Vinik purchased the Lightning back in 2010 and at the time he paid $170 million. Not only did he bring the franchise back to life among the fan base by delivering back-to-back Stanley Cups in 2020 and 2021, but he also ensured the team wouldn't go bankrupt, as they were about to enter some pretty dark days.
The previous sale record was held with the $950 million sale of the Ottawa Senators to Michael Andlauer a few months ago. This new sale by far shatters that old record at more than double.
Source:
Elliotte Friedman on X
Elliotte Friedman on X
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