Lightning owner Jeff Vinik sells stake to investor group, will relinquish control in three years

The Tampa Bay Lightning have announced the sale of a portion of the club on Thursday to an invesor group led by Doug Ostrover and Marc Lipschultz of Blue Owl Capital.

The deal was previously approved by the NHL’s Board of Governors on Oct. 1. As part of the deal, Jeff Vinik will retain full control of the team for the next three years before being transferred over to Ostrover and Lipschultz. According to the team, Vinnik will remain an ownership partner as an alternate governor and Vinik Sports Group board member.

According to Kurt Badenhausen of Sportico, Ostrover and Lipschultz are buying over 50 percent of the franchise, with the valuation sitting at $1.8 billion.

“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,” Vinik said in a team statement. “I’m confident that together, with the ongoing leadership of Steve Griggs and Julien BriseBois, this organization will continue to find success.”

Vinik purchased the team in 2010, and the club went on to win consecutive Stanley Cup championships in 2020 and 2021.

“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,” Vinik added.

The Bolts currently sit in second place in the Atlantic Division with a 4-2-0 record, good for eight points. They haven’t lost a game at home at Amalie Arena in 2024-25, home to their game on Thursday against the Minnesota Wild. They’ll continue the homestand with games against Washington on Saturday and Nashville on Monday before heading on the road for games in Colorado, Minnesota, Winnipeg and St. Louis.