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

'Smart Beta' Funds In Regulators' Sights, Hedgies May Be Next

Mar 26 2015 | 11:11am ET

Funds that mimic strategies used by active managers for a fraction of the cost could...

Lifestyle

Study: Both Marriage and Divorce Lead to Negative Hedge Fund Performance

Mar 25 2015 | 6:51pm ET

Trouble at home leads to trouble in the market for fund managers, according to researchers...

Guest Contributor

Concerned About Your HFT Exposure? Hedge It!

Mar 26 2015 | 1:06pm ET

High-frequency trading has been a persistent storyline for several years. The trading...

 

Sponsored Content

    Mar 9 2015 | 6:35am ET

    Kelly RodriquesKelly RodriquesAs more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…

Editor's Note