Tampa Bay Lightning to stay at Benchmark Arena through 2043

TAMPA, Fla - The Tampa Bay Lightning are staying in Tampa for the long haul after Hillsborough County commissioners signed off on a new lease extension agreement.

The unanimous 7-0 vote extends the team’s lease at Benchmark Arena by six years, keeping the Lightning in the county through at least 2043.

The vote came as the team continues a hot streak on the ice, adding another victory to a 14-game winning streak.

What we know:

Commissioners described the agreement as a win-win for the county and the team, emphasizing the importance of maintaining and investing in a publicly owned arena.

"This is our building. We own it, and we need to take care of it," said Commissioner Christine Miller.

Under the deal, Hillsborough County would commit $250 million toward renovations at Benchmark Arena. Commissioners said the funding would come from tourism dollars, not from the county’s general fund.

The Tampa Bay Lightning would be required to contribute at least $75 million toward the upgrades.

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Commissioners also highlighted the relationship with Lightning owner Jeff Vinik, crediting his leadership with helping drive redevelopment in downtown Tampa.

"It’s widely known what Jeff Vinik has meant to the Tampa Bay Lightning," said Commissioner Ken Hagan. "But more importantly, thanks to his vision and leadership, he has led the charge to transform downtown Tampa."

The other side:

While the vote was unanimous, some commissioners raised concerns about the financial structure of the deal.

Commissioner Josh Wostal questioned the roughly 77 to 23 percent cost split between the county and the team and asked for more detail on the return on investment for taxpayers. He later said he supported the agreement as written.

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Commissioner Miller noted that compared with other cities, like Orlando, Charlotte and Oklahoma City, Hillsborough County’s agreement is relatively favorable, with many municipalities paying for stadium renovations sometimes entirely with public funds.

"The ownership of the Tampa Bay Lightning punch well above their weight, comparatively," Miller said.

What's next:

The deal was also approved by the Tampa Sports Authority, which is the arena’s landlord, though the agency raised concerns about how the agreement could affect future stadium negotiations.

The Tampa Bay Buccaneers are seeking renovations at Raymond James Stadium. The Tampa Bay Rays, meanwhile, are proposing to build a stadium on Hillsborough Community College’s Dale Mabry campus.

There was discussion among commissioners about whether those teams might seek a similar public subsidy exceeding 70 percent of total costs. Commissioner Chris Boles wasn’t concerned.

"Comparing it to others is like comparing apples to rocks," said Boles. "It is simply not the same."