Tampa Bay Lightning Starting Process of $2 Billion Sale

Tampa Bay Lightning owner Jeff Vinik confirmed he’s initiated discussions toward expanding the team’s ownership. 

Vinik said in a statement to Front Office Sports and other outlets Tuesday that “there will be no change in the day-to-day operations of the Lightning.” Earlier in the day, Canadian outlet Sportsnet reported that the Lightning have started “a multi-stage sale process” that values the franchise at nearly $2 billion—about double the record NHL sale price of the Ottawa Senators commanded last year. 

“I am very excited about what is to come for the organization and we look forward to sharing more when the time is right,” Vinik’s statement continued. 

Blue Owl Capital CEO and cofounder Doug Ostrover is among those most interested in acquiring at least a piece of the Lightning, according to Sportsnet. Vinik is expected to retain a “significant” stake in the team he purchased for about $170 million in 2010.

Under Vinik, the Lightning repeated as Stanley Cup champs in the 2019–2020 and 2020–2021 seasons. Vinik made his fortune working in finance and is also a part-owner of the Boston Red Sox.