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Rating:Ex-Magellan Manager Goes Pro Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, March 05, 2010

Ex-Magellan Manager Goes Pro

by: Daniel Tovrov

Jeff Vinik, former manager of the Fidelity Magellan Fund, has completed his acquisition of a professional hockey club, the Tampa Bay Lightning.

The NHL Board of Governors made the news public on Wednesday, according to The St. Petersberg Times. Vinik served as portfolio manager for Magellan between 1992 and 1996, watching AUM increase from $20 billion to $50 billion during his tenure.

Thanks to what is presumed to be a $110 million cash deal, Vinik becomes the team's sole owner. He purchased the Lightning from OK Hockey. Vinik isn't new to sports-team-ownership: he's also a minority owner of the Boston Red Sox. 

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