End of Line
Sic Semper Tyrannis
- Mar 20, 2009
- 29,332
- 6,973
Yes. They know nothing of hockey or how to delegate responsibilities in the sport. Stick to baseball, soccer, and whatever shitty franchise that they have stakes in.Do majority next
Yes they did it recently with Liverpool. They sold a chunk, but retained majority control and all decision-making powers.Have they done this with other major sports teams they own? I don't care enough to look it up.
But hell, even Lemieux/Burkle had minority owners so this isn't exactly unusual. More than anything, it's an infusion of cash to their bottom line while sacrificing a small % of revenue later. Consider they are about to enter a rebuild phase where revenue will be down anyway, it's not a bad business move.
If they were willing to sell controlling interest, I'd be a bit more concerned.
And now I really wish I would hit that big Mega Millions jackpot a month or two ago.
This isn't quite accurate.The executive who was behind the Pens purchase is long gone. The current FSG heads are probably looking for funds to delay some decisions
Yeah, that would seem like standard operating procedures for a conglomerate of that size with the industries they are in.Yes they did it recently with Liverpool. They sold a chunk, but retained majority control and all decision-making powers.
They want to add to their overall portfolio by getting nto the NBA. Relinquishing a small portion of a property like the Pens gives them immediate cash on hand to make such a move.Yeah without understanding why they made the decision it’s hard to tell if this means anything other than adding some money.
It would be hilarious if they are looking to get out, and this is just a first step. Just like a PE. Invest in something you don’t know anything about and jump ship after making a mess of it.
Nutting doesn't have two pennies to scrape together.Bob Nutting is about to be the new investor. Hope you like water in your beer