Sale of Majority Stake in Tampa Bay Lightning Approved, Vinik to Maintain Control for Three Years

Thursday, October 24th, 2024

The Tampa Bay Lightning's primary ownership has changed hands as Jeff Vinik sold the majority of his stake in the franchise to a group of investors that includes Doug Ostrover and Marc Lipschultz. Although he retains control over the team for the next three years, Vinik will serve as the team's governor during this period.

A new board of directors has been established to guide the team's strategic planning. After three years, the leadership will shift to Ostrover and Lipschultz, while Vinik continues to play an active role as a partner.

Under Vinik's leadership, which commenced in 2010, the Lightning participated in the playoffs 11 times and secured two Stanley Cup victories. He stresses the importance of maintaining the team's community involvement and upholding its core values.

There will be no changes to daily operations, as Steve Griggs and Julien BriseBois will maintain their existing positions. Vinik's objective is to achieve lasting success, ensuring that the legacy he has established will be preserved for future generations.

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