Before each hockey season, Leonsis sends Vinik an email that says: I want to win the Stanley Cup. But opting out of some of these cookies may affect your browsing experience. It took some time, but Leiweke eventually agreed to take on the role of Lightning CEO and he got started rebuilding their business operations. They owned a losing franchise, both on and off the ice, they were disconnected from their fan base and they needed a way out. As he had done for decades in the financial sector, Vinik did his due diligence and found an opportunity worth investing in. You may have heard of Vinik. These cookies help provide information on metrics the number of visitors, bounce rate, traffic source, etc. Top prospect Taj Bradley, Rays take on Red Sox today, Rays Tyler Glasnow sustains oblique injury during practice, Lightnings defensive lapses lead to rout by Penguins, Selection to Lightning Hall of Fames inaugural class very, very special for Phil Esposito, St. Petersburg, Tampa Bay Rays to discuss these 9 topics about Tropicana Field. Penny Jeff closed his Boston firm in 2013, to focus on business and philanthropic interests in Tampa. Im good with numbers, so I can sometimes ask good questions. Sign up for our regular 'Bolts Newsletter' for all the latest. Jeff helped solve an issue for Gary in a big way because it went from a problem for the league to quite a success. Before purchasing the Lightning in February 2010, the New Jersey native attended Harvard Business School where he obtained an MBA before joining Fidelity Investments. Ian was born in Australia and educated at Geelong Grammar and Melbourne University. Enter Search Term. Thats how fond Leonsis has become of Vinik how much respect he has for the Caps Eastern Conference rivals owner because of the work he has done to turn the Lightning into a model franchise. Tampa Bay, a sunbelt team, was a solid hockey town on paper. Founded in 1997, VFF has donated over $75 million to nonprofits working in The case was withdrawn by Penny Vinik, who in June filed a petition to dissolve her marriage to 61-year-old Jeff Vinik, the Tampa Bay Lightning owner and Water Street Tampa project developer. On February 7, 2020, Griggs led the charge on the new naming rights of the Lightning's practice facility, TGH Ice Plex. In 2012 Greg joined Oxford Immunotec as Research and Development Director where he was responsible for expanding their diagnostic product pipeline in chronic infections and autoimmunity. Its a nice building. Cookies are small text files that can be used by websites to make a user's experience more efficient. And she seeks to use the Viniks private aircraft and charters as necessary and in keeping with past use. And Vinik made clear that despite Tampa Bays incredible amount of success over the past decade, it hasnt all been highs. Related: From NHL Pause to Playoffs: How to End the 2019-20 Regular Season. Griggs first joined the organization as COO on August 31, 2010. These cookies track visitors across websites and collect information to provide customized ads. The financial destruction caused by the economic crisis forced many NHL owners to consider selling their franchise and at least five NHL teams were looking for new ownership (Arizona Coyotes, Carolina Hurricanes, Columbus Blue Jackets, Dallas Stars and Tampa). at Harvard Law School. Stay connected with the Lightning on social media! WebAn on-campus stadium at USF will be a game-changer, literally and figuratively, for the university and our entire Tampa Bay community, said Jeff Vinik, owner of the Tampa Bay Lightning and co-developer of Water Street Tampa. Analytical cookies are used to understand how visitors interact with the website. Jeff Vinik is building the physical infrastructure that is allowing us to connect internally to build the virtual infrastructure of the future, said Chris Krimitsos, founder of the Florida Bitcoin & Blockchain Summit. Penny Vinik is the chair of a community arts initiative which is enabling Tampa Bay-based artists to display their works throughout AMALIE Arena. Peerfit, a Tampa digital health company, has raised $10 million in a funding round led by Tampa Bay Lightning owner Jeff Vinik and Virgo Investment Group, a San Francisco-based investment firm. Then we got swept. Asked if hes in it for life and this could be generational ownership for his kids to follow in his footsteps, though, the 63-year-old says, Not necessarily. Beginning at En cliquant sur Accepter tout, vous acceptez que Yahoo et nos partenaires traitent vos informations personnelles et utilisent des technologies telles que les cookies pour afficher des publicits et des contenus personnaliss, et des fins de mesure des publicits et des contenus, dtude des audiences et de dveloppement de produit. Fire everybody, Leonsis says. This cookie is set by GDPR Cookie Consent plugin. We lost in the Cup final in 2015. Prior to taking home the top honors, the Lightning were ranked in the Top 10 in 2011, 2012, 2014 and 2015. Griggs engineered a 95 percent Season Ticket Member renewal rate for the 2019-20 season. But I got a lot going on, Vinik continues with a big laugh. Ian champions many charitable organizations with emphasis on providing support for education and the environment. There was almost nothing for fans to do in the barren surrounding area of downtown Tampa. This cookie is installed by Google Analytics. When Vinik bought the franchise for a reported $170 million in the middle of a recession in 2010, the Lightning had 2,000 full season-ticket holders, less than a dozen suite holders and little corporate support. In executing his plan to bring a world class franchise to life in Tampa Bay, Vinik has invested more than $100 million in private funding into the publicly owned AMALIE Arena to create a guest-first facility recognized as one of the finest in the NHL. He wound down VAM in 2013 to focus on his Oh, and on the ice, in the 12 years Vinik has owned the team, the Lightning have enjoyed unrivaled success. Ian has also invested in the mining, oil and gas sectors, with exploration and production activities in Vietnam, Papua New Guinea and Zambia. You could get in the door for as little as $2 or find a free ticket if you happened to pick up your dry cleaning or walk into the right grocery store at the right time, but still there was little support. I ran the Lightning until we brought in the cavalry, Sperling says, before snickering. No doubt, 31 other owners have every right to be envious even jealous. There are probably a few owners who would be well served to study the notes Vinik took back in 2008. The new Cigar City Brewing Taproom opened during the 2019-20 season and represented new food and beverage options for AMALIE Arena guests for event and select non-event days. He has covered the NHL since 1995 (Florida Panthers) and the Wild since 2005, previously for the South Florida Sun-Sentinel and Minneapolis Star Tribune. This site uses different types of cookies. He has hired a great group of executives to run his business and hockey operations, and you can see how much he cares about the franchise. More recently, Vinik purchased local newspaper ads, radio ads, and billboards to promote resources available for local residents affected by unemployment, small business struggles and food shortages due to COVID-19. The cookie is used to store the user consent for the cookies in the category "Other. We were just really poorly run. In August of 2018, the Viniks helped cut the ribbon on the $2.5 million Jeff and Penny Vinik Family Winston Park Boys and Girls Club in east Tampa. But if we cant, I hope its you. Thats how fond Leonsis has Jeff and Penny Vinik continue to personally invest in the community, bringing one-of-a-kind art installations "The Beach," "Art of the Brick," and "Love is Calling" to the city of Tampa. A court document search Tuesday evening showed the case remained open, but sources familiar with the case said Penny Vinik voluntarily dismissed the case on Tuesday. There was nobody in Section 309, 10, 11, 12, 13, Griggs recalls. But the location of the building is just too isolated. But I remember saying, Well, its nota bad thing its like this, because if were going to get our revenues up two X, three X from where they are now, we have plenty of seats to put people in.. From a charitable perspective, it would be difficult to find a non-profit organization within the Tampa community that has not been touched by Viniks philanthropy. At the time, Vinik was living in the Boston area and decided to reach out to the owners of the Red Sox, Bruins and Celtics to get some tips as to how he could begin his journey to owning an NHL franchise. Some have doubts. Prior to being tabbed as CEO, he spent one year as team president and four as chief operating officer. We want to win the Cup every year.. Its all about the third one right now, Vinik says. Does New College have money to pay Richard Corcorans salary? Advertisement cookies are used to provide visitors with relevant ads and marketing campaigns. Both Pittsburgh and Washington, we lost in seven to both of them in the conference final. Griggs also spearheaded the organization's launch of the new Lightning Made Training Center, a focal point for youth to learn the game and for the team to continue teaching and educating more than just on-ice skills. He is currently a Director of the Whitehead Institute for Biomedical Research, Myriad Genetics, Inc. (NASDAQ: MYGN) and Brooklyn ImmunoTherapeutics, Inc. (NYSE American: BTX). In the eyes of many, a pivotal juncture in the Vinik ownership came in 2019 when the Blue Jackets shocked the Lightning, sweeping them in the first round after a 62-win, 128-point season. It was during this time that he co-invented the novel Ga-68 radiopharmaceutical chelator which enabled the development of cold PET kits. Then his influence spread over Tampa Bay. If no results appear, use Enter to do a full site search. Vinik and his franchise became Stanley Cup Champions on September 28, 2020 when the Lightning defeated the Dallas Stars in six games after spending 65 days in the pandemic-induced NHL "Bubble." WebJeff Vinik: Chairman and Governor Jeff Vinik purchased the Tampa Bay Lightning on March 3, 2010, promising a comprehensive transformation of the franchise while pledging We drafted Andrei Vasilevskiy. Hes an unbelievable owner. The donation of an acre of downtown land for the new USF Health Morsani College of Medicine and Heart Institute. Any one of us would love to be in his shoes right now, for sure, but hes one of the most respected owners Ive ever been around., And Edmonton Oilers owner Daryl Katz: Jeff is a leader amongst NHL owners for what he has accomplished in Tampa both on and off the ice. The Lightning enjoyed 234-consecutive sellout crowds at AMALIE Arena from 2015-2020, a streak that was halted only by the COVID-19 pandemic. Vinik wooed Leiweke from the Seattle Seahawks to be his first full-time CEO and made Yzerman GM after the Hall of Famer put together the gold-medal-winning Canadian roster at the 2010 Winter Olympics. During his time in Orlando, Griggs oversaw the Magic's corporate partnerships, premium sales and services, season ticket services and operations, brand management, event presentation and ticket sales departments. She is represented by West Palm Beach divorce attorney Jeffrey Fisher, whose previous clients have included Angela Koch in her divorce from billionaire oil tycoon William Koch and Brooke Gordon in her divorce from NASCAR champion Jeff Gordon. WebIn Fall 2018, VFF will loan Yayoi Kusama's Infinity Room LOVE IS CALLING to the Tampa Museum of Art. In his ten seasons as the owner of the Lightning, there have been no scandals, no lawsuits, no distractions and no disconnect from the community. After a very successful career at the firm, Vinik left to start his own hedge fund, Vinik Asset Management which was the catalyst that brought him the wealth, network and knowledge required to punch his ticket into professional sports (from Manager of Magellan Fund Quits, Washington Post, 05/25/1996). In the end, the Lightning and the city of Tampa hit the ownership jackpot. And when Tampa a couple years ago had the greatest team, most points and they played in the first round against Columbus, and they got swept, everyone said the goaltenders not going to be good, change the coach, blow it up. The success really speaks for itself: winning back-to-back Cups, in the Final again for a chance at a third Cup. These cookies ensure basic functionalities and security features of the website, anonymously. Off the ice, the Lightning continued to transform the Tampa Bay landscape through its grassroots community efforts. Want more of our free, weekly newslettersinyourinbox? He can stomach them. As Vinik enters his 12th year of ownership, the Lightning are recognized nationally as one of the top organizations in North American sports, having appeared in the National Hockey League's Eastern Conference Final/Stanley Cup Semifinal six times (2011, 2015, 2016, 2018, 2020 & 2021), advancing to the Stanley Cup Final three times (2015, 2020 & 2021), winning hockey's ultimate prize in 2020 and 2021. Estimates of Jeff Viniks net worth in 2013 were in the $500 million range, though he has added substantially to his business interests since then. Sperling and Vinik became fast friends and Sperling agreed to help guide Vinik through the process. But if we cant, I hope its you.. Vinik is also the impetus behind Embarc Collective, an innovation hub which opened in downtown Tampa in 2019. New Bucs offensive coordinator Dave Canales staff nearly set, As Tampa Bay sales grow, sport bike maker Ducati plans giant dealership. Jeffrey Vinik's career as an investment guru has had more twists and turns than San Francisco's famed Lombard Street. Tampa Bay Lightning owner Jeff Vinik has purchased the top-floor penthouse at the Tampa Edition for $8.34 million. It took Vasilevskiy five or six years to hit his prime. Ian focuses on investing in private sector opportunities and taking them to the public markets. Greg has a career spanning over 20-years in translational medicine. On Feb. 5, 2010, Vinik purchased a rotting Lightning franchise from Koules and Barrie for the bargain price of $140 million. Im always amazed at teams that fire a GM after three years. WebIn 1996, he left Fidelity to establish his own firm, Vinik Asset Management, a long-short equities hedge fund based in Boston where he grew assets under management from He went on to earn his Master of Business Administration degree from the Harvard Business School, graduating in 1985. But win or lose, it wont change how Vinik is viewed. Lightning Hockey, L.P. is a division of Vinik Sports Group. tampabaylightning.com is the official Web site of the Tampa Bay Lightning. Jeffrey N. Vinik. At 50 years old or so, 12, 13 years ago, my life changed in a direction I could not have imagined. In addition, Jeff manages various family investments, oversees the Vinik Family Foundation with his wife, Penny, and is part owner, with Cascade Investment, of Strategic Property Partners, a real estate entity undertaking a $3 billion mixed use development project to revitalize downtown Tampa. LinkedIn sets this cookie from LinkedIn share buttons and ad tags to recognize browser ID. Griggs' name is engraved twice on the Stanley Cup to memorialize those achievements. While Vinik was enjoying success in the financial industry, the Lightning franchise was flirting with bankruptcy and potential relocation. What Jeff is doing and what he set out to do from Day 1, on and off the ice, has been second to none. I was glad when the cavalry arrived. These cookies will be stored in your browser only with your consent. Vinik and Yzerman had inherited a couple of future Hall of Famers and budding stars in Steven Stamkos and Victor Hedman, and in Viniks first full year as owner and Yzermans first as GM, the Lightning advanced all the way to the Eastern Conference final before losing to the Boston Bruins in seven games. Leiweke brought with him Steve Griggs from the Orlando Magic after they worked together with the Minnesota Wild. Yuengling & Son, America's Oldest Brewery, who has maintained a facility near the university since 1999. Business mogul, philanthropist, innovation investor and Tampa Bay Lightning owner Jeff Vinik sat down with St. Pete Catalyst publisher Joe Hamilton to discuss SARASOTA - His hockey team is in the He oversees all of the organization's business operations, including all concerts and events held at AMALIE Arena. I couldnt have done it. Unbridled success, yet his fellow NHL owners dont root against him because of the man he is. Jeff and Penny Vinik want to ensure theyre making an impact not just in the immediate term but 20 or 30 years from now. It just had gone on sabbatical. Yzerman hired Julien BriseBois away from the Montreal Canadiens and made him assistant GM. The Lightning repeated the feat, becoming just the second team since the turn of the century to go back-to-back, after downing the Montreal Canadiens in five games to capture a second-straight Stanley Cup on July 7, 2021. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. By 2009, the organization was losing tens of millions of dollars, had one of the lowest season ticket bases in the NHL (4,500 season ticket holders) and played in a facility that needed significant upgrades. He beat the S&P 500 Index for almost Penny Vinik, 57, filed a petition June 8 in Hillsborough Circuit Court to dissolve her marriage with Jeff Vinik, 61. Tod is so good at building a championship brand. Jeff and Penny reside in South Tampa and have four children: Danny, Jared, Kyra, and Joshua. Jeff Vinik also is a member of FBN Partners, a group of local investors who have loaned $15 million to Times Publishing Co., which owns the Tampa Bay Times. In August of 2016, VFF presented The Beach Tampa by Snarkitecture, an immersive art installation featuring a 10,000 square foot, all-white beach environment with an ocean of 1.2 million recyclable white balls, in AMALIE Arena. Were not going to blow it up! The Lightning's success under Vinik has coincided with the emergence of a development company, Strategic Property Partners (SPP), LLC and its plan to develop approximately 60 acres in downtown Tampa's south core into a new district entitled 'Water Street Tampa'. 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