Vincent Lecavalier, right, and the rest of the Lightning have a new owner, pending the NHL board's approval. Vincent Lecavalier, right, and the rest of the Lightning have a new owner, pending the NHL board's approval. (Chris OMeara/Associated Press)

The Tampa Bay Lighting look like they're finally changing hands.

Boston investor Jeff Vinik has agreed to purchase the team from beleaguered Lightning co-owners Oren Koules and Len Barrie, the team announced in a release on Friday.

"Buying the Lightning and joining the Tampa Bay community is a dream come true," Vinik said. "I've been an avid hockey fan my whole life and I pledge to our fans that I will work my hardest to build the Lightning into a world class organization both on and off the ice."

The deal is still pending approval from the NHL's board of governors.

"The day is a bittersweet one for us, as I believe we have established a strong foundation on the ice and begun to point things in a positive direction for the Lightning," Koules said.

Vinik will act as sole proprietor of the team, meaning he has complete control over the franchise.

It's the second time the Lightning have been sold in a year and a half. Though the tenure of Koules and Barrie as owners started with promise, it ended up being rife with internal turmoil and financial troubles.

Dismal finish

Tampa Bay signed a slew of free agents and made several personnel changes during the 2008-09 season, their first under the leadership of Koules and Barrie, but the team ended up spiralling to a 24-40-18 record on the way to a dismal 14th-place finish in the East.

It all happened amid the owners' reported struggles to finance the team. NHL commissioner Gary Bettman stepped into the mess during the summer to draw up a buyout plan for the feuding pair.

Two weeks ago, reports indicated that the situation got so bad the NHL had to advance the cash-strapped team money so the Lightning could make their payroll for the month.

The late Bill Davidson and Palace Sports and Entertainment sold the Lightning to Koules and Barrie in June 2008, and financed half the purchase.

The current sale price is expected to be a lot lower than the $204 million US Koules and Barrie spent to buy the team.

Tampa Bay sits eighth in the Eastern Conference with 26 games to go this season.