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  1. Business

Tampa Bay Lightning owner Jeff Vinik won't serve on TECO board after all

TAMPA — Tampa Bay Lightning owner Jeff Vinik will not be able to serve on the board of directors overseeing the Tampa Electric Co. and TECO Peoples Gas after all.

"Unfortunately, I have recently learned of a challenge my family investment business presents for me to serve on the board of TECO," Vinik said in a statement released by Tampa Electric. "Emera and TECO have a vision for Tampa Bay that complements my vision, and TECO has selected an excellent board of leaders with a strong commitment to the community. Even though I am not able to serve as a member of the board, I know we will continue to work closely together to advance the Tampa Bay region."

Vinik did not describe the challenge that keeps him from joining the board. Vinik also owns Stragetic Property Partners with Bill Gates' Cascade Investment, a real estate venture in charge of redeveloping 50 acres of downtown Tampa.

Emera, a Canadian energy conglomerate, bought TECO Energy in a deal finalized last year and promised to appoint a local board that wound, among other things, oversee the local operation's community engagement. That board was appointed last week.

TECO does not plan to replace Vinik as the board has no set number of members.

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