MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Tuesday, February 2, 2010 Jeff Vinik Switches From Picking Stocks to Sticks 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 Tuesday. Jeffrey Vinik, 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. Printed from: MFWire.com/story.asp?s=24070 Copyright 2010, InvestmentWires, Inc. All Rights Reserved |