The market leading Sports, Media, and Entertainment group at global law firm Hogan Lovells has advised the Tampa Bay Lightning and its Chairman & Governor Jeff Vinik on the sale of a portion of the National Hockey League (NHL) club to a group of investors led by Doug Ostrover and Marc Lipschultz.
The transaction takes effect immediately, and was approved by the NHL’s Board of Governors on October 1, 2024.
Vinik will retain full control of the team and act as the team’s Governor for the next three years. Vinik, Ostrover, and Lipschultz have created a Board of Directors to oversee the strategic direction of the organization. In three years, control will transfer to Ostrover and Lipschultz. Vinik will then remain an active ownership partner as an Alternate Governor and board member.
There will be no change in the day-to-day operations of the Lightning as a result of this agreement.
More details on the transaction can be found here.
The Hogan Lovells deal team was led by partners Craig Umbaugh, Global Head of Sports, Media, and Entertainment (M&A, Denver) and Mark Kurtenbach (M&A, Denver), with support from partner Mark Weinstein (Tax, Pensions & Benefits, New York), senior attorney Samuel Posnick (M&A, Denver), senior associate Stephen Weinstein (Tax, Pensions & Benefits, Washington, D.C.), and associate Hanna Wynn (M&A, Denver).
