Jeff Vinik paid $170 million to purchase the Lightning back in 2010. Since then, the team has lifted the Stanley Cup twice and holds a sellout streak of 327 games.

According to Sportico's Scott Soshnick and Kurt Badenhausen, Arctos Sports Partners is planning on purchasing a minority stake in the Tampa Bay Lightning that would value the franchise at $1.4 billion.

Arctos originally became a minority investor in the Lightning back in January 2022, after taking advantage of a new rule that allows private equity firms to buy into NHL teams. The purchase would need a waiver from the NHL, because Arctos’ share of the team would exceed the 20% maximum share allowed for a private equity, according to the Sportico report.

A $1.4 billion valuation would set the record for any NHL team, a mark that hasn't been topped since the Toronto Maple Leafs were sold to Rogers and Bell Canada for a little more than $1 billion in December 2011.

Jeff Vinik paid $170 million to purchase the Lightning back in 2010. Since then, the team has lifted the Stanley Cup twice and holds a sellout streak of 327 games.

The Lightning had no comment on the report.