Hedge Fund Manager Vinik Buys Arena Football Team

Jan 18 2011 | 8:16pm ET

Vinik Asset Management’s Jeffrey Vinik can’t get enough of St. Petersburg, Fla., sports teams.

The hedge fund manager’s sports team holding company, Tampa Bay Sports and Entertainment, has bought the city’s Arena Football League team, the Tampa Bay Storm. Vinik did not disclose how much he had paid for the team.

Vinik’s acquisition of the storm comes less than a year after he bought the National Hockey League’s Tampa Bay Lightning. The Storm and the Lightning both play at the St. Pete Times Forum; Vinik also owns the company that operates the arena.

The Storm said that it would retain Tim Marcum as its coach and general manager. The Storm is the last remaining original AFL team and has won more AFL championships than any other team, the last coming in 2003.

Vinik also owns a minority stake in his hometown baseball team, the Boston Red Sox.


In Depth

Malik: The Science of Deal Sourcing 201

Aug 27 2015 | 5:35pm ET

Deal sourcing is understandably a hot topic among private equity firms because it...

Lifestyle

Rolling Art Advisors Marketing Collectible Car Fund As Uncorrelated Alternative

Aug 27 2015 | 6:47pm ET

A new fund is trying to provide investors with greater access to an emerging asset...

Guest Contributor

Agecroft Partners: Hedge Fund Industry Assets to increase $250B by Summer 2016

Aug 11 2015 | 11:29am ET

Assets will continue to flow into the hedge fund industry despite long-standing...

 

Editor's Note