FSG to explore minority stake sale of the Penguins

[Bocephus86]

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

Damn it don't let them kill another franchise here please. I love the idea of the Eagles owner ending up with the Cs.

 

[Beauner]

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

I'm not familiar with this theory, why would Pegula want to buy the Penguins?

 

[JianYang]

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

How about his forehead

 

[ElLeetch]

Generational player nearing retirement. time for the rats to jump ship again in Pittsburgh

 

[centipede2233]

FSG clearly didn’t do their due diligence.

 

[wunderpanda]

I'm not familiar with this theory, why would Pegula want to buy the Penguins?

Rumor: Thread 'The Jacobs Famly (Delaware North) wants to buy the Sabres but it gets complcated'

Dec 18, 2024

This rumor has been percolating in Boston for a few weeks and spawns from the Celtics being up for sale. Delaware North simply can't afford the Celtics who could be sold for $5 BILLION

The six children of Jeremy Jacobs now own the Bruins and Delaware North owns TD Garden. The family feels they can build a new arena downtown to replace the flawed KeyBank Center.

But for this to work you need a third team and the Penguins are the perfect fit as Terry Pegula has strong Pennslynaia connections and the Penguins are currently owned by the Red Sox.

Fenway Sports Group then winds up...

• Fenway

• 

sabres board has the thread

 

[BB79]

Rumor: Thread 'The Jacobs Famly (Delaware North) wants to buy the Sabres but it gets complcated'

Dec 18, 2024

This rumor has been percolating in Boston for a few weeks and spawns from the Celtics being up for sale. Delaware North simply can't afford the Celtics who could be sold for $5 BILLION

The six children of Jeremy Jacobs now own the Bruins and Delaware North owns TD Garden. The family feels they can build a new arena downtown to replace the flawed KeyBank Center.

But for this to work you need a third team and the Penguins are the perfect fit as Terry Pegula has strong Pennslynaia connections and the Penguins are currently owned by the Red Sox.

Fenway Sports Group then winds up...

• Fenway

• 

sabres board has the thread

Pegula can go help the Penguins miss the playoffs for 15 straight seasons now

I can't believe Keybank and for that matter TD Garden are both pushing 30 years old. They don't seem that old. Still, it seems like a massive waste of materials and resources to scrap a 30 year old arena. But I grew up with an NHL where just about every team played in a building that was retrofitted for hockey and already 50+ years old, I still feel spoiled by the current buildings in a way

 

[Beerz]

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

No it wouldn't because it clearly states that Fenway would keep controlling interest in the Penguins

 

[KrisLetAngry]

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.

Yep
Utah paying 1.3 billion.

They know what's up.

Reminds me of Cuban selling the Mavs majority and keeping 25%.

Saw the chance to get a lot of money.

 

[Voight]

Damn it don't let them kill another franchise here please. I love the idea of the Eagles owner ending up with the Cs.

Not sure Lurie can "afford" it, his net worth is pretty much entirely tied to the Eagles.

 

[Empoleon8771]

Interesting timing.

 

[FriendlyGhost92]

Figures they want to start selling part of their stake once they've milked this core for all it's worth and sent the team into a lengthy rebuild lol.

 

[StreetHawk]

Pegula can go help the Penguins miss the playoffs for 15 straight seasons now

I can't believe Keybank and for that matter TD Garden are both pushing 30 years old. They don't seem that old. Still, it seems like a massive waste of materials and resources to scrap a 30 year old arena. But I grew up with an NHL where just about every team played in a building that was retrofitted for hockey and already 50+ years old, I still feel spoiled by the current buildings in a way

Remember TD Garden got a massive renovation, same with Philly and STL as well at 9 figures. So long as the building has the space, you can reconfigure the non viewing areas to however you want. I doubt much of the viewing is going to change. They would remove some seats to replace with fewer luxury ones to make more per seat.

Word now is Flyers and Sixers will work on a new building together, which kind of limits the value of the reno money put into over the past several years. The building in AZ for the Suns got $250 Mill in renos and the lease was extended 15 years. Likely won't see another reno if Ishiba is truly interested in an NHL expansion team come mid 2030's.

 

[Carlzner]

Good, they need some cash to support their aging stars (Mo Salah & VVD of course)

 

[crackdown44]

Let’s start a go fund me and just try and make Dubas do all the trades from the trade board

 

[Alexander the Gr8]

I never understood why they bought the Penguins after the championship contention window had ended and at the tail end of Crosby/Malkin’s careers. Did they really expect the franchise value to increase?

 

[MetalheadPenguinsFan]

I never understood why they bought the Penguins after the championship contention window had ended and at the tail end of Crosby/Malkin’s careers. Did they really expect the franchise value to increase?

More $$$ than sense

 

[Gaylord Q Tinkledink]

Aren't they the group that really coveted Dubas ?

Guess they realized they sunk all that money into a dud ?

 

[Alexander the Gr8]

More $$$ than sense

Yeah, that’s unfortunate for you guys. Mario cashed out at the right time, but there is no hockey knowledge in upper management with him gone.

Somehow the franchise went up in value since then, but I don’t know how sustainable that is beyond Crosby’s retirement.

 

[Beauner]

Yeah, that’s unfortunate for you guys. Mario cashed out at the right time, but there is no hockey knowledge in upper management with him gone.

Somehow the franchise went up in value since then, but I don’t know how sustainable that is beyond Crosby’s retirement.

Nothing to do with the individual team. Even the worst sports teams (see the baseball team in the same city..) have increased in value exponentially over the last decades.

Whether that’s sustainable or not is certainly a question, but it doesn’t have to do with any individual team

 

[SomeDude]

Figures they want to start selling part of their stake once they've milked this core for all it's worth and sent the team into a lengthy rebuild lol.

They haven’t milked them for ****. They bought the franchise as the sun was setting on their careers and the seats were already starting to empty.

They also got the developmental rights for the old arena site in the deal (which I’m sure will not be involved in any minority sale) which is where they are going to make their money in the short term.