Jeff Vinik, the Boston-based financier and minority owner of Major League Baseball's Boston Red Sox, has agreed a deal that will see him pay around US$120 million to buy the National Hockey League's Tampa Bay Lightning.

The deal must be confirmed by the NHL board of governors, but that is expected to be a formality. It will see Vidik take 100 per cent ownership of the Lightning, as well as secure two areas of nearby land owned by the franchise.

"Buying the Lightning and joining the Tampa Bay community is a dream come true," said Vinik to Sport Briefing. "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 organisation both on and off the ice."