Doug Ostrover

Jeff Vinik says new owners Doug Ostrover and Marc Lipschultz will maintain the team's winning legacy for "generations." Vinik will still run the show for three years and remain an active minority owner after that.

The Board of Governors approved the complex, multiyear transfer to the Ostrover, co-CEO of Blue Owl Capital. Vinik will continue to run daily operations of the team, which is now valued at about $1.8 million.