NHL's Tampa Bay Lightning sold

TAMPA, Fla., Feb. 5 (UPI) -- A group of local businessman headed by former hedge fund manager Jeff Vinik has purchased the NHL's Tampa Bay Lightning.

Vinik's group, if the sale is approved by NHL Board of Governors, will take over ownership from OK Hockey LLC, which has operated the Lightning under Oren Koules and Len Barrie, the team said in a release.

The value of the deal wasn't released but The Tampa Tribune reported the figure is believed to be much less than the $204 million OK Hockey paid for the franchise about 19 months ago.

Vinik, 50, will be the chairman and sole operator of Tampa Bay Sports and Entertainment, LCC. He lives in Boston and is a part owner of the Boston Red Sox. He formally managed Fidelity's Magellan Fund.

"Buying the Lightning and joining the Tampa Bay community is a dream come true," Vinik said in a statement. "I've been an avid hockey fan my whole life and I pledge to our fans that I will work my hardest to build the Lightning into a world-class organization both on and off the ice."

The Tampa Bay Lightning is 24-21-11 this season, tied for seventh in the NHL's Eastern Conference.