Jeff Vinik has sold his controlling stake in the Lightning but will continue to lead the organization for the next three years, the team announced Thursday. Why it matters: The Lightning have been among the NHL's top franchises in Vinik's 14 years as owner,

Jeff Vinik has sold an ownership stake in the NHL's Tampa Bay Lightning to a group of investors led by Doug Ostrover and Marc Lipschultz. Vinik will remain in control of the team and serve as the Lightning's governor for the next three years.

Jeff Vinik says new owners Doug Ostrover and Marc Lipschultz will maintain the team's winning legacy for "generations." Vinik will still run the show for three years and remain an active minority owner after that.

The Tampa Bay Lightning's chairman Jeff Vinik sold a portion of the team to a group including Doug Ostrover and Marc Lipschultz.

Tampa Bay Lightning owner Jeff Vinik has sold a portion of the hockey club to a new investment group but will retain full control for the next three years.

Vinik, who bought the team in 2010, still will own a piece of the Lightning and continue to run things until late 2027.

The NHL’s Board of Governors approved a partial sale of the Lightning from majority owner Jeff Vinik to a group of investors led by Doug Ostrover and Marc Lipschultz.