Ex-Fidelity Magellan Fund manager buys NHL's Tampa Bay Lightning

Boston financier Jeff Vinik has agreed to buy the Tampa Bay Lightning. Vinik is purchasing Tampa Bay Sports & Entertainment from a group led by Oren Koules and Len Barrie, the NHL said in a statement on its Web site Friday. The deal is contingent on approval from the league's Board of Governors. "I've been an avid hockey fan my whole life and I pledge to our fans that I will work my hardest to build the Lightning into a world class organization both on and off the ice," said Vinik, who will have sole control of the team. Vinik agreed to buy the team, the company that operates the St. Pete Times Forum, and two parcels of adjacent land. Financial terms were not disclosed. "The day is a bittersweet one for us, as I believe we have established a strong foundation on the ice and begun to point things in a positive direction for the Lightning," said Koules, chairman of OK Hockey. "We look forward to seeing Jeff take the team from here and move it forward." The 50-year-old Vinik, a minority owner of the Red Sox, managed Fidelity's Magellan Fund before founding Vinik Asset Management. Tampa Bay, led by coach Rick Tocchet and stars Vincent Lecavalier and Martin St. Louis, was in the eighth and final playoff spot in the Eastern Conference heading into Friday's NHL games. Brian Lawton is the general manager. The Lightning host the Calgary Flames on Saturday night.