A former manager of Fidelity
's Magellan Fund
is completing the acquisition of the National Hockey League's Tampa Bay Lightning
, The Boston Herald reported
, who grew Magellan's AUM from $20 to $50 billion as portfolio manager between 1992 and 1996, is buying the Florida hockey team for $170 million. (The Herald estimates that Vinik is worth $800 million.) Vinik, who is also a minority owner of The Red Sox, is paying $70 million more than the team's current owners did just a few years ago.
The Lightning are currently in fourth place in the Southeast Division of the NHL's Eastern Conference with a record of 22-21-11.
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