Wednesday, 4 March 2015
Last updated 0 sec ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…