The Tampa Bay Lightning are in talks to have a new majority owner.
According to multiple media reports, owner Jeff Vinik is looking to sell the franchise and has been speaking with Doug Ostrover, the co-founder and CEO and owner of investment firm Blue Owl Capital. The team is being valued at nearly $2 billion, per the reports. Blue Owl didn’t reply to a request for comment sent after business hours.
Stakes in the team will be sold in stages, according to Sportsnet, which first reported the news, and Vinik will retain full operational control of the franchise for the next several 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 ownership group of the Tampa Bay Lightning,” Vinik said in a statement to media outlets. “There will be no change in the day-to-day operations of the Lightning and Vinik Sports Group. I am very excited about what is to come for the organization and we 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. Earlier in the decade, the Bolts appeared to be developing a dynasty after winning back-to-back Stanley Cups in 2020 and 2021 and coming up just short of a third consecutive when losing to Colorado in the 2022 Final.
Tampa Bay ranked 12th in Sportico’s NHL franchise valuations in 2023 at $1.25 billion, a 37% increase from the prior year. In 2010, Vinik purchased the team from Oren Koules and former NHL player Len Barrie for $170 million.