Blue Owl Tycoons Set to Take Over NHL’s Tampa Bay Lightning

Doug Ostrover and Marc Lipschultz, the co-heads of private credit behemoth Blue Owl Capital Inc., will be taking over the Tampa Bay Lightning hockey team.

The duo are leading a group of investors purchasing a stake in the National Hockey League club, in a deal that will give them control in three years, according to a team statement on Thursday.

Brandon Hagel reacts with Jake Guentzel of the Tampa Bay Lightning after Guentzel’s goal during the third period against the New Jersey Devils in Newwark, New Jersey, on Oct. 22.

Photographer: Sarah Stier/Getty Images

The transaction valued the franchise at $1.8 billion, according to a person familiar with the deal who wasn’t authorized to speak publicly. As part of the arrangement, current owner Jeff Vinik will remain a partner and private ...