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Hogan Lovells Aids Arctos in Buying Tampa Bay Lightning Stake

Jan. 24, 2022, 11:55 AM

Hogan Lovells said it advised private equity firm Arctos Sports Partners on its recent minority investment in Vinik Sports Group, owner of the National Hockey League champion Tampa Bay Lightning.

Tampa-based Vinik retains control as majority owner of the team, whose day-to-day operations won’t change, according to a statement.

Hogan Lovells also advised the Lightning on the transaction, for which no financial details were disclosed. The league said it approved the deal.

Vinik Sports Group, under chairman Jeff Vinik, bought the Lightning in 2010. The team won the NHL’s Stanley Cup championship in 2020 and 2021.

Dallas-based Arctos Sports Partners was founded in 2019 by private equity veteran Ian Charles and former Madison Square Garden president and CEO David O’Connor.

Arctos has made minority investments in Fenway Sports, which owns Major League Baseball’s Boston Red Sox and other professional sports assets. It has also invested in the National Basketball Association’s Golden State Warriors and the Sacramento Kings.

To contact the correspondent on this story: Rick Mitchell in Paris at rmitchell@correspondent.bloomberglaw.com
To contact the editor on this story: Chris Opfer in New York at copfer@bloomberglaw.com; John Hughes in Washington at jhughes@bloombergindustry.com