Tampa Bay Lightning majority owner Jeff Vinik is selling a stake of the franchise to Arctos Sports Partners at an NHL-record valuation of $1.4 billion, Sportico reported Thursday.
The Ottawa Senators just sold for just under $1 billion earlier this week. The Toronto Maple Leafs sold for $1 billion in 2012.
Arctos is already an investor in the Lightning as well as the Minnesota Wild, Pittsburgh Penguins and New Jersey Devils. The NHL’s policy allows for private equity to own stakes in a maximum of five different teams.
This purchase would push Arctos’ stake in the Lightning past 20 percent, requiring a waiver from the NHL, per the report. Rules cap private equity stakes in teams at 20 percent.
Vinik bought the Lightning for $170 million in 2010.
–Field Level Media
