This Sports Team Owner Is Giving Full-Time Employees Bonuses Up to $66,000 Each — Here's Why In a sport known for throwing punches, the owner of the Tampa Bay Lightning just threw a knockout.
By David James
Key Takeaways
- Tampa Bay Lightning owner Jeff Vinik announced that the organization's 300-plus employees will all receive bonuses between $50,000 and $66,000.
- The payday comes after Vinik sold a majority of his equity in a deal that valued the NHL team at $1.8 billion.
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The holiday season just got a whole lot merrier for full-time staffers of the Tampa Bay Lighting.
Sports Business Journal (SBJ) reports that Lighting owner Jeff Vinik announced that the organization's 300-plus employees will all receive bonuses between $50,000 and $66,000.
The payday comes after Vinik sold a majority of his equity in a deal that valued the NHL team at $1.8 billion.
Vinik made the announcement in a memo that SBJ reports read in part, "In recognition of the hard work and dedication that has made VSG a world-class+ organization, I'm pleased to announce that all full-time staff will be receiving a bonus on behalf of the Vinik Family. .. Thank you for the role you've played in making the Vinik Sports Group and the Tampa Bay Lightning an organization of which we can all be proud. Together, we have built something truly special."
Vinik will remain in control of the organization for three years before transferring control to Blue Owl Capital co-CEOs Doug Ostrover and Marc Lipschultz, who reportedly bought 50% of the team.
In 2010, Vinik bought the Lightning for $93 million. Since then, the team has become a powerhouse on the ice, winning back-to-back Stanley Cups in 2020 and 2021. SBJ rates the Lightning as a top 10 revenue generator in the league and says that Vinik's vision has also revitalized the surrounding downtown Tampa area.
A sports business leader with a lot of money in his pockets and a track record of success? Hey, Jeff, any interest in buying the New York Jets?
