In 2010, when he bought the Tampa Bay Lightning, Jeff Vinik made it clear that his goal was to build a world-class organization. He also made it clear that it couldn’t be done overnight.
“When you come into a situation that isn’t humming on all cylinders, you have to realize it will take time to turn around the culture, to create a high-performing organization,” he said.
It was a mindset that he made sure he also shared with his first big hire a few months later: general manager Steve Yzerman.
“Steve and I had some very candid conversations and, frankly, our minor league system was weak — so we knew there would be no quick fixes and it would take a number of years to draft well and develop those players,” he said. “We also both knew it would take time to put a plan in place, but a requirement of that plan was patience.”
While the team made it to the Eastern Conference Final in Vinik’s first year of ownership, it then missed the playoffs in the next two. However, Vinik’s belief in patience has begun to pay off.
Last year, the team made it to the Stanley Cup Final for the first time in more than 10 seasons and had its highest
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Vinik embraces a Community Hero recipient.
Photo by: Getty Images |
point total ever. This season, the Lightning played all 41 home games to 100 percent capacity and makes its third straight playoff appearance this spring, only the second time that’s happened since the team was founded in 1992.
That performance has left the team “financially at a very sustainable place,” Vinik said.
Vinik recalled facing “a healthy dose of skepticism” when he purchased the team, given the up and down nature of the franchise and its previous ownership groups, as well as his past career as a hedge fund manager.
“I tried to explain I’m here for the long term and to grow something great, and I think we’ve done a good job of accomplishing what we said we’re going to accomplish,” he said. “One thing I think I said at the time was to judge us by our actions, not on our words.”
While on-ice success has helped, Vinik and the team’s renewed and strong commitment to Tampa has been a key ingredient to its success.
“There are only 122 or so teams in professional North American sports, and I’m very fortunate to be the owner of one of those teams,” he said. “I think when you do own one of those teams, you have an obligation given the
importance of a team to a community to make a difference, give back and bond with the community.”
Those outreach efforts have been greatly increased under Vinik’s watch. For example, he and wife Penny set up the Tampa Community Hero program, which honors a community hero at every home game and donates $50,000 to the nonprofit of his or her choice.
“There are no short cuts, and everything I do every day, whether it’s giving a speech at breakfast or meeting some people later in the day, it’s about strengthening those bonds,” Vinik said. “Becoming part of the community has really been a fun, enjoyable part of the growth of the organization.”
