Jeff Vinik won’t be typecast. He’s a low-key, self-effacing, game-changing titan-mogul.
He made a ton of money as a prescient hedge-fund manager. He owns a successful sports franchise. He has a billion-dollar project for a major downtown overhaul. He can speed-dial Bill Gates.
And before he bought the Tampa Bay Lightning in 2010, he googled: “How to buy a sports franchise.” He really did. Not exactly the second coming of George Steinbrenner.
He’s probably the least self-important, very important person any of us have ever encountered.
He recently spoke at a Tampa Tiger Bay Club lunch and was peppered with questions ranging from Steven Stamkos’ contract negotiations to transportation priorities to his urban-makeover project to societal obligations. More on such obligations a bit later.
His answers were often diplomatic, sometimes dryly humorous, and not designed to make headlines–or adversaries. He was, after all, fielding leading questions, the gotcha stock-in-trade of politically provocative, Tiger Bay Club members.
* The literal first query–which underscores how integral the Lightning have become in this market–was about re-signing Stamkos, NHL superstar and nice-guy avatar.
For the record, Vinik has “full confidence that Steve (Yzerman, the general manager) will figure out the deal with Stammer.” Of course he does.
* Why buy the Lightning? Who else was of interest? After noting that he looked into a number of franchises–including Atlanta, Dallas, Phoenix, Nashville, St. Louis and Carolina–he settled on the Bolts and summarized this area’s appeal. “What I saw here were friendly people, quality of life, weather, beaches.”
* That $1.7 billion Port Tampa Bay development plan: Complement or competition? “Well thought out. Has a natural flow. Not sure about a 75-story tower.”
* Our car-centric community. “Improving transportation around here is critical. … I’m talking to a lot of companies, and the No.1 thought on their mind is, ‘How do we move our employees around this area?'” Based on population-growth projections, the area could grow by 2.5 percent per year, he estimated. “We’ve got to think ahead for transportation, and it’s going to require a lot of different means.”
Among those means: “More traffic (water taxis) on the river” and an expanded TECO Line Streetcar System. The latter, he said, needs to become “a real, viable means of transportation”–including a downtown loop and eventual extension to TIA.
* Light rail, to say the least, is an exercise in urban-planning frustration and political rancor around here. Would Vinik consider helping to organize and lead a business-community effort in support of modern mass transit? “Maybe.”
*His “live, work, play” downtown project. “If it looks like Miami or Austin, no. It’s got to be about Tampa and creating a sense of place. … We’re going after our demographic: millennials, families and empty nesters. Which is everybody.”
* As to recruiting a Fortune 500 headquarters, Vinik said he’s talking to a number of executives in the Northeast, where he’s originally from. “We are getting closer and we are resonating,” he said. “There are several major prospects out there we are having discussions with.” Likely time frame: “Next year or two.”
* He also emphasized that focus can’t solely be on the Fortune 500 recruits. “Let’s not turn away 2,000 high-paying jobs because it happens to be a regional headquarters,” he pointed out.
* Vinik also fielded multiple questions about his societal responsibility to those who still don’t fit his “everybody” demographic. As in, the working poor and people of color whose lifestyle might not prioritize, say, yoga in the park. What’s his obligation?
First, he’s not about to get into the political weeds that inevitably result when you become a social-justice crusader. Second, if done right and successfully, his makeover project will produce economic ripples that will benefit more than those living, working and playing on those 40 acres around Amalie Arena.
“We haven’t fulfilled our mission if all we do is benefit from those 40 acres,” he pointedly noted. “This is about long-term, economic sustainability. This is about changing this area for generations. … We think this rising tide will lift all boats of this area.”
One final thought on societal responsibility. I get the sense that a person such as Vinik–rich, important, impactful, generous–is perceived as an “all things to all people” sort by some. It’s not realistic–or fair.
Among other involvements, the Lightning have a Community Hero Program that gives a $50,000 check to a local non-profit at every home game. And the team just announced a $6 million plan to involve 100,000 bay area youth in school outreach programs. Jeff and Penny Vinik are also prominent community philanthropists.
Vinik’s ultimate contribution to all those calling Tampa Bay home will likely be that “rising tide”– its own form of egalitarian enterprise.