Confirmed with Link: Lightning close to selling minority position at $1.4B valuation

[Felonious Python]

Click to read more...

 

[VinikToWinIt]

Not bad for a $170M purchase 13 years ago.

 

[Stormbreaker]

That's cool can the cap go up $4 million already

 

[Flat Ronnie]

What does all that even mean?

So Vinik is still the majority owner, but a minority share was sold to an investment group and the franchise was valued at 1.4B?

 

[Stormbreaker]

What does all that even mean?

So Vinik is still the majority owner, but a minority share was sold to a investment group and the franchise was valued at 1.4B?

Pretty much.

 

[LightningStrikes]

What does all that even mean?

So Vinik is still the majority owner, but a minority share was sold to an investment group and the franchise was valued at 1.4B?

That’s about it, yeah.

 

[Hoek]

Yeah whatever small chunk they're buying, they're paying for it as if it's worth $1.4B for the whole thing.

 

[Flat Ronnie]

Wonder if Vinik is really interested in the Rays and hes accumulating cash flow?

 

[CupsOverCash]

I think Vinik won his own Stanley cup with that.

 

[Hoek]

Wonder if Vinik is really interested in the Rays and hes accumulating cash flow?

Way too much uncertainty around that franchise to jump in now unless he's absolutely sure he has a stadium deal that'll work. Plus Sternberg is adamant he's not selling.

 

[Todd1a]

What does all that even mean?

So Vinik is still the majority owner, but a minority share was sold to an investment group and the franchise was valued at 1.4B?

I almost had a heart attack at first I thought vinik was selling the whole team at 1.4 billion and leaving us lol

Wonder if Vinik is really interested in the Rays and hes accumulating cash flow?

I don’t see it price tag for the rays would be like 2 billion at least and then you got to fund a new stadium and hillsbourgh county won’t pay for any of it

 

[These Are The Days]

That's cool can the cap go up $4 million already

Lol f*** no dude. It needs to stay flat again

 

[Felonious Python]

Arctos already owns some of the Lightning.

From Dec 2021

NHL Allows Private Equity Funding, Wild and Lightning Jump In

The NHL has opened its doors to private equity funding. Two teams, the Minnesota Wild and Tampa Bay Lightning have deals lined up.

frontofficesports.com

• NHL teams can sell up to a 30% stake to private firms.
• Individual firms can own up to 20% of a team.
• Firms can have stakes in up to five NHL teams.
• The minimum investment required is $20 million.

The league has approved the sale of an up-to-10% stake of the Wild to Arctos, per team owner Craig Leipold. Arctos has also been approved to buy an undisclosed stake in the Lightning.

$20 million would probably just be for the initial buy-in, but I'm not sure that an NHL owner would sell further stakes for significantly less.

 

[FinnLightning26]

Wow, Vinik making bank on that sweet revenue sharing money.

 

[OurlordAndSaviorKuch]

What does all that even mean?

So Vinik is still the majority owner, but a minority share was sold to an investment group and the franchise was valued at 1.4B?

Correct

I almost had a heart attack at first I thought vinik was selling the whole team at 1.4 billion and leaving us lol


I don’t see it price tag for the rays would be like 2 billion at least and then you got to fund a new stadium and hillsbourgh county won’t pay for any of it

Yeah but he would get a stadium deal done and he would actually spend money on players. He would build a winner not that we don’t already have a winner.

 

[These Are The Days]

Vinik buying the Rays is a wet dream we may never get.

 

[b0lthed]

Yep, extremely unlikely. And doesn’t he still own a piece of the Red Sox?

 

[Felonious Python]

Yep, extremely unlikely. And doesn’t he still own a piece of the Red Sox?

He sold in 2019.