TAMPA, FLA. – The Tampa Bay Lightning opened play in the fall of 1992 and had four owners between then and February 2010. The original Japanese group was the ultimate in absentee ownership. Art Williams followed in 1998 and was underfinanced and overmatched. Oren Koules and Len Barrie had grand plans but not the required millions when buying the team in 2008.
Palace Sports and Entertainment owned the Lightning from 2000 to 2008 and provided a Stanley Cup champion in 2004. That was the company created by Detroit Pistons owner Bill Davidson when he moved the NBA team into The Palace in Auburn Hills, Mich., in 1988. The Pistons also won the NBA title in 2004, creating what became known as the "Davidson Double."
Davidson was 75 when he bought the Lightning and was an infrequent visitor to Tampa, as was Tom Wilson, his CEO.
It was easy for the sports consumers of the Tampa area to feel as if the owners of the Lightning had been either distant or overwhelmed in building the franchise in this pioneer southern market — second in arrival in Dixie only to the failed Atlanta Flames.
And then a strange event occurred on Feb. 5, 2010, when it was revealed that hedge fund manager Jeff Vinik was purchasing the debt-ridden Lightning from Koules and Barrie for $170 million.
The reaction in Tampa was, "Who's this Vinik?" but nine years later, Lightning fans can make this claim: They have the best owner in the four major professional sports.
Vinik made his reputation in the financial world as the manager of the Fidelity Magellan Fund from 1992 to 1996. He was 50 when he bought the Lightning. He offered the usual platitude about becoming a member of the community, but he was the owner from the East Coast who actually meant it.
Vinik ensconced himself in Tampa, brought in Steve Yzerman to run his hockey operation in May 2010, and has started rebuilding the dilapidated area that surrounds the Lightning's Amalie Arena with a $3 billion-plus Water Street development. It's so big that a Bill Gates company is in on it.