If the NHL had an award for the most generous franchise owner, there’s now a clear winner.
On Thursday, Tampa Bay Lightning owner Jeff Vinik announced that he had sold his majority stake in the NHL team, which is valued at $1.8 billion. Following the move to expand the team’s ownership group, Sports Business Journal reported that the billionaire was issuing a large bonus to everyone who works in the company.
As per the publication, Vinik will distribute bonuses totalling approximately $20 million to more than 300 employees.
Vinik’s announcement, communicated in a memo to full-time staff members on Thursday, revealed that each employee would receive a bonus ranging from $50,000 to $66,000. The 65-year-old, who bought the team back in 2010, expressed his gratitude for their hard work and dedication in a lengthy statement.
āIn recognition of the hard work and dedication that has made VSG a world-class organization, Iām pleased to announce that all full-time staff will be receiving a bonus on behalf of the Vinik Family,” he wrote.
“Thank you for the role youāve played in making the Vinik Sports Group and the Tampa Bay Lightning an organization of which we can all be proud,” Vinik, who is also a partial owner of the Boston Red Sox, added. “Together, we have built something truly special.ā
Under the terms of the deal, Vinik Sports Group will maintain control of the Lightning organization for the next three years, with the New Jersey native acting as governor before handing over the reins to new partners.
Tampa Bay’s new group of investors are acquiring just over 50% of the team’s shares.