Tampa Bay Lightning to sell minority stake, details still murky
Image via NHL.com.

Tampa Bay Lightning
'If a minority sale is finalized, I will maintain control of Vinik Sports Group and nothing will change with respect to the daily operations.'

The National Hockey League Board of Governors approved a minority sale of the Tampa Bay Lightning Thursday.

Lightning owner Jeff Vinik confirmed a deal is pending.

“I can confirm that we are in discussions to sell a minority position in Vinik Sports Group. If a minority sale is finalized, I will maintain control of Vinik Sports Group and nothing will change with respect to the daily operations and objectives of the Tampa Bay Lightning. If and when a transaction is complete, I will comment further at that time.” Vinik said in a statement about the deal.

He could not comment further because of the ongoing discussion.

Vinik sold a minority share, believed to be a 20% stake, according to Lightning Insider, but the team did not confirm that number.

The decision came during the same meeting in which the NHL approved the Pittsburgh Penguins sale to Fenway Sports group and another reported limited partnership deal in Minnesota, according to Frank Seravalli, a sports reporter with Daily Faceoff.

The reported agreement comes after the Lightning won back-to-back Stanley Cup Championships and are 16 and 5 this season, good for third place in the Atlantic Division so far behind the Toronto Maple Leafs and Florida Panthers.

Vinik bought the team in 2010.

Janelle Irwin Taylor

Janelle Irwin Taylor has been a professional journalist covering local news and politics in Tampa Bay since 2003. Most recently, Janelle reported for the Tampa Bay Business Journal. She formerly served as senior reporter for WMNF News. Janelle has a lust for politics and policy. When she’s not bringing you the day’s news, you might find Janelle enjoying nature with her husband, children and two dogs. You can reach Janelle at [email protected].


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