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

U.S. Treasury Moves on Reinsurance Loophole

Apr 24 2015 | 5:11pm ET

The U.S. Treasury Department has released proposed rules aimed at limiting the ability...

Lifestyle

Puerto Rico Woos The Rich But So Far Gains Little

Apr 17 2015 | 2:45am ET

Hedge fund manager Rob Rill grins. He has just had word that U.S. financial regulators...

Guest Contributor

Starting a ‘40 Act Fund Family? Don’t Forget Your Board

Apr 30 2015 | 7:18am ET

The convergence of the hedge fund and mutual fund worlds continues unabated, as...

 

Editor's Note