(February 9, 2010, Weil Gotshal News)
Weil Gotshal is counsel to Lightning Enterprises LP and Lightning Real Estate Holdings LP in their sale of the Tampa Bay Lightning National Hockey League franchise to Tampa Bay Sports & Entertainment LLC, owned by Jeff Vinik and a related family entity. The purchase price has not been announced. The ownership transfer of the Lightning is subject to approval by the National Hockey League Board of Governors.
In addition to the hockey team, the sale includes the company which operates the St. Pete Times Forum and two parcels of adjacent land. Jeff Vinik will be the Chairman and sole person controlling Tampa Bay Sports & Entertainment. Vinik is the founder and chairman of Vinik Asset Management and a minority owner of the Boston Red Sox. In 2008, Weil Gotshal advised Lightning Investment Holdings LP in its acquisition of the Tampa Bay Lightning.
The Weil Gotshal team was led by corporate partner Glenn West, primarily assisted by associates Justin Ferguson, Sarah Stasny and Aaron Rigby. All are in the firm’s Dallas office.
Also working on the transaction were partners Jared Rusman (Tax – Dallas), Annemargaret Connolly (Environmental – DC), Karen Ballack (IP – Silicon Valley), Amy Rubin (Employee Benefits – NY), counsel John Sipple, Jr. (Antitrust – DC) and associates Max Goodman, Joshua Pohl, Matthew Morton, Kwang-chien Ger, Joseph Rafferty, Eric Schecter, Joshua Gelfand, Christopher Gleason, Lucas Spivey and Robert Shmalo.
The Tampa Bay Lightning transaction is Weil Gotshal’s second sports deal within the past month. Weil Gotshal is also representing Hicks Sports Group LLC in its recently announced agreement to sell the Texas Rangers baseball franchise to Rangers Baseball Express LLC.