News Article: Lightning working on sale for value close to $2 Billion

[Felonious Python]

VINIK WILL REMAIN OWNER


REPEAT: VINIK WILL REMAIN OWNER

Click to read more...

 

[DaBolts]

Lightning working on sale with value close to $2B

According to multiple sources, the Tampa Bay Lightning have begun a multi-stage sale process that will value the team at close to $2 billion.

www.sportsnet.ca

Vinik will have operational control, for now...

 

[Todd1a]

Absolutely horrible we have the best owner in the league makes sense why vinik let Stamkos walk now

 

[Sky04]

Absolutely horrible we have the best owner in the league makes sense why vinik let Stamkos walk now

Has nothing to do with it.

 

[Todd1a]

Losing Jeff vinik is the biggest loss for this team ever

 

[Sky04]

Losing Jeff vinik is the biggest loss for this team ever

Did you even read the article?

 

[Todd1a]

Did you even read the article?

Says he’s in control for a few more years and then out as majority

 

[gn2007]

Losing Jeff vinik is the biggest loss for this team ever

As part of the deal, current owner Jeff Vinik — enormously popular in the Tampa region for his work with the team — will retain full operational control of the organization for the next several years. He will continue to have a significant ownership stake as part of the new group.

 

[Todd1a]

As part of the deal, current owner Jeff Vinik — enormously popular in the Tampa region for his work with the team — will retain full operational control of the organization for the next several years. He will continue to have a significant ownership stake as part of the new group.

But no longer majority

 

[Felonious Python]

The team being valued at 2b doesn't mean they're being sold at 2b. Ever watched Shark Tank (or Dragon's Den for our international friends)?

 

[LightningStrikes]

Vinik bought the franchise for $170M 14 years ago right? That’s one mighty increase in value, even if the team doesn’t get sold at $2B.

 

[These Are The Days]

This isn't necessarily a bad thing. Vinik didn't die or anything. Can we PLEASE get someone to buy the Rays?

 

[ThunderRoad]

This isn't good news at all. What happens after a "few years"? And what loyalty will the ownership/operations have to the Tampa area once that clock is up? Really does put a big cloud of uncertainty over the team. Even if it's kicking the can down the road for a couple of years.

 

[Rschmitz]

This isn't necessarily a bad thing. Vinik didn't die or anything. Can we PLEASE get someone to buy the Rays?

No, this is horrible news.

Vinik holding temporary operational control sorta reminds me of Yzerman sticking around for his last year here. Anyone who thinks a lame duck owner is the one calling the shots needs a reality check, he's simply a figurehead to not spook the fanbase.

 

[OurlordAndSaviorKuch]

Where is a crying/sobbing gif when you need one.

 

[DaBolts]

Did you even read the article?

He's good for a few more years, that's it. I'm concerned about the new group firing JBB after Hedmonster retires.

 

[ThunderRoad]

Talk about a blindside hit. Although I guess there have been signs with him getting out of Water Street development last year. Just really though?

 

[DaBolts]

Where is a crying/sobbing gif when you need one.

I put it in the original post. You're covered Kuch.

 

[OurlordAndSaviorKuch]

Wonder if this has anything to do with his divorce?

 

[DaBolts]

Wonder if this has anything to do with his divorce?

You never know. Women are expensive. Trust me, I'm still married 30 something years later.

 

[Maelmoor]

It's difficult to find an owner as good as Vinik, but hopefully it's a decent owner. Nothing is more important than a solid owner to be honest, just remember the Barrie/Koules nightmare..

 

[Felonious Python]

Encina is saying Vinik is selling majority control (eventually).

My interpretation of a 2 billion dollar valuation is that it's establishing what Vinik Sports Group sees as the team's total value. Vinik has sold minority shares before, and there was just as much misinformation and panic.

If someone wants to buy 5% of the team (for example), you need to know what that would even cost. (5% of a franchise worth 2 billion would cost $100 million, btw)

 

[ThunderRoad]

It's difficult to find an owner as good as Vinik, but hopefully it's a decent owner. Nothing is more important than a solid owner to be honest, just remember the Barrie/Koules nightmare..

The only other owner we had in this franchise history that was considered good was a guy who didn't force the team to operate in the ultimate basement of NHL payrolls and could hardly recall he owned the franchise in the first place. That's how low of a bar ownership was for the Lightning before Vinik.

 

[ThunderRoad]

Encina is saying Vinik is selling majority control (eventually).

My interpretation of a 2 billion dollar valuation is that it's establishing what Vinik Sports Group sees as the team's total value. Vinik has sold minority shares before, and there was just as much misinformation and panic.

If someone wants to buy 5% of the team (for example), you need to know what that would even cost. (5% of a franchise worth 2 billion would cost $100 million, btw)

Couple of years though is not that far off. Vinik, while not from this area, moved here and made it his home. Would another owner from somewhere else immerse him/herself in Tampa and make the investment in the city?

 

[Felonious Python]

I was watching the old ESPN show 'Playmakers' a few days ago (think The Shield, but in the NFL), since I had never seen it before, and Elliotte Friedman made a surprise cameo in the third episode.

Now he goes and writes this.