Lightning Owner Jeff Vinik, whose team won the Stanley Cup this season amid the pandemic, credits the ability to be realistic and adjust expectations over time as the reason for the team's success. Speaking during SBJ's Dealmakers in Sports virtual event, Vinik said, "As things progressed and we learned more about the pandemic, we just kept readjusting our business, our philanthropy in the community, how we were working with our employees, work from home, etc." He added, "You make a lot of mistakes and a lot of good and bad, and it's all about trying to take emotion out of it and making the best decisions you can, based on all the facts you have available at that point in time." Vinik remains optimistic that the sports industry will pull through this and the country as a whole will too. "Over the next six to 12 months, we will be getting back to normal," said Vinik. "The whole world will be getting back to normal in 2022. And again, I know it's tough for people right now, but we've got the potential for really good economic growth in the U.S. and low inflation. I think we're looking at 10 great economic years in the 2020s."
Quick Hits:
* On the level of development around Amalie Arena happening during the pandemic: “Florida, at least fortunately from our construction point of view, didn't shut down major construction projects. And because of things like lack of traffic, we've actually picked up a couple of months on a lot of our buildings. We are right now at the point where our JW Marriott Hotel is opening in a couple of weeks and will help service the Super Bowl.”
* On the Raptors choosing to play in Tampa this season: “We're thrilled to have them and we do hope to have fans there, hopefully, not in the beginning, but over time, certainly. And for us, it's just an opportunity.”
* On whether to be bullish or bearish on esports: “I'm very bullish on the esports business. People love watching video games and playing video games, and that has grown for 30 years and is continuing to grow. And now we've figured out that we can organize it and with the internet have high-speed communications and now create sports leagues out of it.”
* On areas in which the sports industry will be growing: “Sports betting is going to be a tremendous area of growth. We're very early in that process. It's got to be done responsibly. That's part of our responsibility.”
* On what the legacy of '20 will be on sports business: “When I think of 2020 in general, I think pandemic, I think racial equality, and maybe third, change in the White House. But certainly, the first two are the stories of 2020 and they're both clearly very relevant from the sports industry point of view.”
