Len Redkoles/NHLI via Getty ImagesThe Tampa Bay Lightning are working to sell the team at a valuation near $2 billion, Elliotte Friedman reported for Sportsnet.
The reported buyer is Doug Ostrover, CEO of New York City-headquartered investment company Blue Owl Capital, per Friedman.
Friedman wrote that sources say “the deal is not done yet” and current owner Jeff Vinik is anticipated to retain control over team operations “for the next several years.” Vinik will also keep “a significant ownership stake” in the team, Friedman reported.
Vinik confirmed to The Athletic’s Joe Smith that he is in discussions to sell the team:
Joe Smith @JoeSmithNHL#tblightning owner Jeff Vinik statement on report of being in process of sale. https://t.co/nTdjv3dt5x pic.twitter.com/n86L6Rgnem
Vinik purchased the Lightning in 2010 for a reported valuation of around $170 million. The new valuation of $2 billion would dwarf the $950 million Michael Andlauer paid for the Ottawa Senators last September as the most valuable team sale in NHL history.
Since Vinik’s purchase of the team, the Lightning have won two Stanley Cups and attended two more Stanley Cup Finals.
The new sale will take place in a “multi-stage” process, sources told Friedman.
The Lightning sold a minority stake in the franchise to Arctos Sports Partners in June 2023 at a franchise valuation of $1.4 billion, Scott Soshnick and Kurt Badenhausen reported for Sportico.
Forbes listed the Lightning as the 13th-most valuable franchise in the NHL at $1.25 billion as of December 2023. That marked a 31 percent increase over the year prior, per Forbes.
Only the Los Angeles Kings, Montreal Canadiens, New York Rangers and Toronto Maple Leafs were estimated to have values of $2 billion or higher by Forbes.
The Lightning were one of 16 NHL teams with an arena filled to capacity during the 2023-24 regular season. Even with former captain Steven Stamkos having departed for the Nashville Predators, Tampa Bay will expect similarly high attendance in 2024-25.
Source : Bleacher Report