TAMPA, Fla. — The Tampa Bay Lightning's season is in full swing, and the club's front office has also been in action.
The Lightning announced Thursday that Jeff Vinik, the team's chairman and governor, and Vinik Sports Group sold a portion of the team to a group of investors. The transaction was approved by the NHL on Oct. 1 and took effect immediately.
The team said the new group of investors is led by Doug Ostrover and Marc Lipschultz, but Vinik will still have full control of the Lightning and serve as the team's governor for the next three years. After three years, Vinik is set to transfer control of the team to Ostrover and Lipschultz. He will then act as an alternative governor for the Lightning and board member of Vinik Sports Group.
The recent transaction will reportedly not impact the day-to-day operations of the Lightning and Vinik Sports Group as general manager Julien BriseBois and CEO Steve Griggs will remain in their positions while serving as alternate governors with the league.
“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,” Vinik said in a statement. “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. Bringing in the right partners, with the right values, and a strong commitment to our culture is the way we ensure lasting success for the Tampa Bay Lightning. We have built a legacy of which I am proud, and I want it to endure for generations.”
The Lightning have won back-to-back Stanley Cup Championships and reached the Stanley Cup Final in three consecutive seasons under Vinik's ownership since 2010. The team says it was able to grant more than $60 million to nonprofit organizations in the Tampa Bay area through the Vinik Family Foundation and the Lightning Community Heroes program.
After an offseason filled with drama for Bolts fans amid former captain Steven Stamkos' exit from the team, the Lightning have started the new season with four wins in its first six games. The team sits second in the Atlantic Division of the Eastern Conference and will play its next game at 7 p.m. Thursday, Oct. 24, inside Amalie Arena.
"I've had enough."
Since Hurricanes Helene and Milton, dozens of homes have hit the Tampa Bay market. Homeowners are selling 'AS IS' and 'CASH ONLY' for investors, ready and willing to walk away after being flooded in the storms.
