An Ex-Magellan PM Plans to Donate $10 Million
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Wednesday, February 02, 2011

An Ex-Magellan PM Plans to Donate $10 Million

Former Fidelity Magellan PM Jeff Vinik is reportedly donating $10 million from his family's charitable foundation to nonprofits over the next five years.

Vinik owns the professional hockey team Tampa Bay Lightining and is the founder of Vinik Asset Management.

The donations will begin next season with an annual gift of $2 million to be handed over to the Lightning Foundation each year for five years, The Tampa Bay Tribune reports. From there, four $200,000 donations will be made to major charities in the Tampa Bay area and 25 $50,000 awards will be made to individual "heroes" who will designate a charity for the gift. Checks will be awarded during hockey games next season.

Vinik, a Boston resident, is also a minority owner of the Boston Red Sox.

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