FSG to explore minority stake sale of the Penguins

[MMC]

Click to read more...

 

[BrookswasHere44]

Good

 

[qc14]

Such a classic Weekes cycle lmao:

1) Post a cryptic picture of the Pittsburgh skyline, get people riled up thinking they're trading Crosby or firing Sullivan or something crazy
2) Wait a couple of days, have no one else say anything about something even remotely related
3) Break a real but extremely uninteresting story so you can't get accused of making shit up for clicks

 

[kerrabria]

Such a classic Weekes cycle lmao:

1) Post a cryptic picture of the Pittsburgh skyline, get people riled up thinking they're trading Crosby or firing Sullivan or something crazy
2) Wait a couple of days, have no one else say anything about something even remotely related
3) Break a real but extremely uninteresting story so you can't get accused of making shit up for clicks

FSG has a controlling percentage of the Penguins. If they sell enough that they are no longer majority owners, then that is extremely newsworthy.

If people thought a Crosby trade was near, that’s not Weekes’ fault. Those people are just dumb. Like if Weekes posted a photo of Saskatoon and delusional ppl thought they might be getting a team, but instead they’re just getting a neutral site game. Still interesting, just not a fantasy coming true.

 

[qc14]

FSG has a controlling percentage of the Penguins. If they sell enough that they are no longer majority owners, then that is extremely newsworthy.

I mean the headline is "minority share, expected to maintain a controlling interest." It's not that this isn't a newsworthy story, it just doesn't justify the days of hype and lead-up tweets for it. Nothing against Weekes, he's doing his job and earning his paycheck, it's just always extremely funny to me when he does this kind of stuff.

 

[Toby91ca]

FSG has a controlling percentage of the Penguins. If they sell enough that they are no longer majority owners, then that is extremely newsworthy.

If people thought a Crosby trade was near, that’s not Weekes’ fault. Those people are just dumb. Like if Weekes posted a photo of Saskatoon and delusional ppl thought they might be getting a team, but instead they’re just getting a neutral site game. Still interesting, just not a fantasy coming true.

The headline above clearly suggests they are exploring a sale of a minority stake....they would retain control. What I'm most curious about here is valuation though....prospectus of the franchise and value in near term can't be too high with Crosby retiring at some point over the next few years.

 

[MMC]

it just doesn't justify the days of hype and lead-up tweets for it.

That's the fault of those who had an emotional reaction to a photo of a city

 

[Turin]

have they considered selling the whole thing?

 

[BB79]

That's the fault of those who had an emotional reaction to a photo of a city

Kevin Weekes is such a drama queen, always posting cryptic pictures

 

[Nogatco Rd]

Smart, need to free up some cash for Marner’s signing bonus

 

[wintersej]

Some speculation on Boston radio it’s to free up some cash for a Celtics bid.

 

[BallardEra]

Sullivan is sweating.

 

[JPT]

Jim Balsillie has entered the chat

(Is the guy still alive?)

 

[the valiant effort]

Kevin Weekes is a legit artiste

 

[3074326]

Jim Balsillie has entered the chat

(Is the guy still alive?)

He is.

At least he's a dude I guess, it'll probably be some Saudi private equity firm or something.

 

[Bender Duster]

Can Sid buy in?

 

[Shark Finn]

Such a classic Weekes cycle lmao:

1) Post a cryptic picture of the Pittsburgh skyline, get people riled up thinking they're trading Crosby or firing Sullivan or something crazy
2) Wait a couple of days, have no one else say anything about something even remotely related
3) Break a real but extremely uninteresting story so you can't get accused of making shit up for clicks

4) forehead

 

[Dumais]

Can Sid buy in?

Shouldn't we wait for the relocation talks to start before asking him to save the team.

 

[JPT]

Can Sid buy in?

Naa he could've but he took discounts on his contracts.

 

[Voight]

Such a classic Weekes cycle lmao:

1) Post a cryptic picture of the Pittsburgh skyline, get people riled up thinking they're trading Crosby or firing Sullivan or something crazy
2) Wait a couple of days, have no one else say anything about something even remotely related
3) Break a real but extremely uninteresting story so you can't get accused of making shit up for clicks

Weeks generally isn't much of an insider, I mean what's the biggest story hes ever broke? Last year after the Coyotes went to Utah he just tweeted out skylines of random cities. He does stuff like his hoping there's some news because he may have heard something minor. Even a blind squirrel finds a nut.

 

[SomeDude]

Can Sid buy in?

Yes, for pennies on the dollar once FSG fully runs the ship into the ground.

 

[MattMartin]

Oh gawd, hope they aren't gonna whine about being broke and forced to move team if they don't get like 3 #1 draft picks and 2 generational talents added to their roster again.

 

[S E P H]

have they considered selling the whole thing?

They bought them, like what? Five years ago? Why would they sell so soon?

This is definitely a profit tactic. Buy the team at a below-average amount, value of team boosts, and then sell off a minority stake to get nice revenue juice. They saw the NHL booming and wanted to take advantage of it for the last two or so years.

 

[Breakers]

tull maybe

Wears Carhart plays the guitar and likes hockey and has the money

 

[wunderpanda]

this would fit the jacobs gets sabres, fenway gets celtics/bruins/arena & pegula gets penguins theory from last month