TAMPA, Fla. — Tampa Bay Lightning Chairman & Governor Jeff Vinik and Vinik Sports Group on Thursday announced the sale of a portion of the Tampa Bay Lightning and Vinik Sports Group.

The sale, approved by the NHL’s Board of Governors in early October, is to a group of investors led by Doug Ostrover and Marc Lipschultz.

What You Need To Know

  • Tampa Bay Lightning owner Jeff Vinik has sold a portion of the team to a new ownership group

  • The sale, approved by the NHL’s Board of Governors in early October, is to a group of investors led by Doug Ostrover and Marc Lipschultz

  • No financial terms were released 

  • MORE INFORMATION: Tampa Bay Lightning

No financial terms were released but according to Canadian website Sportsnet, the team is currently valued at $2 billion. 

Vinik, who bought the Lightning in 2010 for $170 million, will retain full control of the team and act as the team’s Governor for the next three years.

Vinik, Ostrover and Lipschultz have created a Board of Directors to oversee the strategic direction of the organization.

In three years, control will transfer to Ostrover and Lipschultz. Vinik, 65, will then remain an active ownership partner as an Alternate Governor and Vinik Sports Group board member.

There will be no change in the day-to-day operations of the Lightning and Vinik Sports Group as a result of this agreement.

Tampa Bay has been one of the league’s most successful franchises in recent years. The team has reached the conference finals six times and made four appearances in the Stanley Cup Finals since 2015.

Tampa Bay won Stanley Cup titles in 2020 and 2021.

Vinik Sports Group and Tampa Bay Lightning CEO and Vice Chairman Steve Griggs and Lightning General Manager Julien BriseBois will both remain in their positions and serve as Alternate Governors with the NHL.

As part of the transaction, Arctos will sell a portion of its interest in the team alongside Vinik and remain a minority partner in the franchise.

“Since 2010, we have focused on building the Lightning into a world-class organization, and now we’ve found world-class partners who share in our mission of being a community-first organization,” said Vinik. “Doug and Marc share my commitment to providing the Lightning with all the resources they need to excel and are excited to become part of the Tampa Bay community.

“I’m confident that together, with the ongoing leadership of Steve Griggs and Julien BriseBois, this organization will continue to find success.”