NHL’s Tampa Bay Lightning in sale talks, owner says

The Tampa Bay Lightning are in negotiations to have a new majority owner.

According to multiple media reports, owner Jeff Vinik intends to sell the franchise and has been in talks with Doug Ostrover, co-founder, CEO and owner of investment firm Blue Owl Capital. The team is being valued at nearly $2 billion, according to reports.

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Sports Network was the first to report the potential sale.

Shares in the team will be sold in stages, as per Sports Networkwith Vinik retaining full operational control of the franchise for the next few years. He would also still hold a significant stake as part of the new ownership group.

“I can confirm that we are in discussions to further expand our Tampa Bay Lightning ownership group,” Vinik said in a media statement. “There will be no changes to the daily operations of the Lightning and Vinik Sports Group. I’m very excited about what’s next for the organization and look forward to sharing more when the time is right.”

The Lightning are coming off a relatively unsuccessful 2023-24 campaign, losing in the first round of the playoffs for the second year in a row, this time to in-state rival and eventual Stanley Cup champion Florida Panthers. At the start of the decade, the Bolts appeared to be developing a dynasty after winning back-to-back Stanley Cups in 2020 and 2021 and coming close to a third straight by losing to Colorado in the 2022 final.

Tampa Bay ranked 12th Sportico’s NHL Franchise Ratings in 2023 at US$1.25 billion, an increase of 37% compared to the previous year. In 2010, Vinik purchased the team from Oren Koules and former NHL player Len Barrie for $170 million.

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