Tampa Bay Lightning owner Jeff Vinik donates $100,000 to St. Pete Fighting Chance Fund

Tampa Bay Lightning owner Jeff Vinik and his wife, Penny Vinik donated $100,000 to the city of St. Petersburg’s Fighting Chance Fund.

The city established the fund to provide grants to locally owned and independently operated small businesses experiencing hardship related to the COVID-19 pandemic.

“Our small business ecosystem is at the heart of who we are as Tampa Bay and will be at the heart of our economic recovery,” Vinik said. “We must protect and support the thriving community of small businesses in St. Petersburg and throughout our region during these uncertain times and we are happy to help in Mayor Kriseman’s efforts to do just that.”

The grants provide $5,000 for qualifying businesses and $500 each for their qualifying employees to help absorb the financial impact of closures and business reductions necessary amid ongoing social distancing efforts in place to curb the spread of the novel coronavirus.

“The Vinik Family Foundation has stepped up for our region time and again. This particular gift will help us to further assist our small business owners and their employees – the backbone of St. Pete’s economy. We are grateful for Jeff and Penny’s generosity during this challenging time,” said St. Petersburg Mayor Rick Kriseman.

Small businesses located in the city that qualify include those most impacted by the coronavirus crisis including bars, restaurants, night clubs, pet services, retail establishments, fitness centers and event space.

To qualify, the independent owner and operator must not only operate the business within city limits, they must also live within the city.

Only those businesses with 25 or fewer employees are eligible for the grants.

Employees at those businesses must also be St. Pete residents to qualify for the $500 grant offered in the new program. Those employees must have either lost their job or experienced a pay cut of at least half of their normal earnings.

The city began accepting applications for the grants Thursday.

The city estimates about 900 businesses will qualify with about 3,000 employees also able to receive assistance.

As grants, businesses and employees are not required to repay the funds.

Vinik also donated this week $50,000 to the University of South Florida’s student relief fund available to help students recover from financial hardship from the school’s three campuses in Tampa, St. Pete and Sarasota.