News Article: Lemieux, Burkle exploring possible sale of Penguins

[edog37]

I'm not sure why guys keep bringing up Nutting's name as a potential buyer for the Pens. He has never expressed any interest in the past about owning the team (unlike Mario's stated interest in buying the Pirates a few years ago), so it doesn't seem like there is any smoke, let alone fire. The NHL is going to be very careful with this & will help advise from a distance (afterall, the BoG has final stamp of approval on a sale). Clearly, the team isn't going anywhere, but there is a long line of requirements that have to be met. Chief among these:

1) No relocation. Not with a new arena, development rights, solid fan base, good team.

2) Don't screw up the redevelopment. This is part of the package. The old Civic Arena site is prime real estate and it has to be done right. Having a cut & run owner will not do. The league has a understands this & has a vested interest in ensuring these types of sweetheart deals for new buildings continues.

3) TV ratings/fan base. The franchise has never been more popular across the country & in Pittsburgh then these last few years. Again, the league has a vested interest in maintaining this.

 

[Asuna]

Oh please, yes they spent some money developing the farm system; great you don't think other clubs do that at as well?

3rd most profitable team... they said attendance would drive payroll.... well attendance is way up; payroll is still below average.

Yet they keep winning. So who cares.

 

[dueling mullets]

Buy low, sell high. If only the front office took that approach with its players.

 

[Shwag33]

Yet they keep winning. So who cares.

The pirates haven't gone further than the penguins and we know what a disaster the pens have been so??

 

[Shwag33]

Fixed your statement for you. Common mistake.

Wrong.... it's not a common mistake. The pirates payroll is well below where it should be.

 

[penguins2946*]

The pirates haven't gone further than the penguins and we know what a disaster the pens have been so??

It's almost like the Pirates are an upcoming team and the Penguins are a declining team. Who would have guessed?

You're so out to lunch on this it isn't even funny.

Wrong.... it's not a common mistake. The pirates payroll is well below where it should be.

No, it could be higher. That doesn't mean it should be higher. Just because they have money to spend doesn't mean they should spend it. I'd much rather have what the Pirates are doing (handing out smart contracts, developing internal talent, not overpaying for free agents) than what you're suggesting.

 

[djt153]

Lost in all this nutting talk is the fact that they bought the Pirates after having a partial stake for years. the sports ownership landscape has changed dramatically since the nuttings got their foot in the door and deeper pocketed players are likely to arise. Also, bob nutting has been great for the Pirates.

 

[Winger for Hire]

Wrong.... it's not a common mistake. The pirates payroll is well below where it should be.

Why should it be higher? Because they have some extra money right now?

I could be driving a fully loaded BWM, but I choose to drive Dart because it make more sense for my budget and pocket the difference. It lets me have other nice things down the road and gives me room should something unforeseen happen.

 

[ImporterExporter]

People *****ing about Bob Nutting have no clue what they're talking about plain and simple. They don't understand baseball or how small a market Pittsburgh is. They don't understand what a competent owner with a budget that is less than 90% of the league, can do, given putting people in place who know what the **** they're doing. Nutting has invested massive amounts of money in the minor league system and foreign scouting (See Polanco, Marte, Jung Ho Kang etc to name a few). It's why said minor league system is among the best in baseball right now.

Advanced metrics play a big part in the franchise now. Nutting was the guy who hired the FO people who put the lower level people in place. He doesn't meddle or stick his face where it doesn't belong.

Right now the Pirates are the best run franchise in Pittsburgh. Yes, even better than the Steelers. I said it two years ago and I still believe it today. The Pirates will absolutely win a title before the Penguins do.

There are a lot of really ignorant people on here who think every owner should just spend money that mystically is there (or isn't). The Pirates aren't the Yankees or an LA based team. They simply don't have anywhere near the revenue or market to compete from a pure $ standpoint. They HAVE to invest wisely in the aspects i outlined above. And they have. It's why they are a playoff baseball team despite being outspent by 90% of the league.

 

[Shwag33]

Why should it be higher? Because they have some extra money right now?

I could be driving a fully loaded BWM, but I choose to drive Dart because it make more sense for my budget and pocket the difference. It lets me have other nice things down the road and gives me room should something unforeseen happen.

The analogy doesn't hold water. Over the last 10 years, the pirates probably have 250 million in the black. Do you really believe they are going to use any of that in the future? They may raise payroll eventually to get closer to the break even point than they are now, but the money they've been saving for years isn't going back into the club.

 

[Jaded-Fan]

We aren't worried because Burkle likely isn't selling anything and Mario isn't even likely to sell everything. At the end of this Ron Burkle will still be the majority owner of the team. Most likely Mario will be a minority owner of the team. We'll just have some other minority owner, who most likely will have more money than Mario.


You absolutely can spend more than just to the cap. You can spend more on any non-roster position in the organization such as scouts or coaches.

Quote to that effect?

If so good news. Burkle is the money behind all of this so is the primary concern with continuing to have adequate financing behind the team to keep the ability to spend to the cap.

As for Mario, if he is cashing in I can not blame him. He is in his 50's now, or just entered them, right? He could get many millions for most of his share. Why not enjoy them while he is still young? If that is all that this story is about then I am far less concerned.

 

[Bennett Brauer]

Quote to that effect?

If so good news. Burkle is the money behind all of this so is the primary concern with continuing to have adequate financing behind the team to keep the ability to spend to the cap.

As for Mario, if he is cashing in I can not blame him. He is in his 50's now, or just entered them, right? He could get many millions for most of his share. Why not enjoy them while he is still young? If that is all that this story is about then I am far less concerned.

This is basically the story.

Mario is looking to sell part or most of his share, he still wants to retain some ownership but he basically wants to cash in.

Burkle isn't selling.

 

[Bennett Brauer]

I won't listen, but I can't imagine what he has to say about them

"Well according to my sources, the Penguins don't feel like this franchise can stay valuable, so they're looking to sell as high as possible, Burke and Mario want their money back and won't care if the franchise is moved as long as they get the money their seeking"

 

[Jaded-Fan]

This is basically the story.

Mario is looking to sell part or most of his share, he still wants to retain some ownership but he basically wants to cash in.

Burkle isn't selling.

Then it is a non-story.

Like I said, who can blame Mario? This is not a hobby to him like it is to Burkle. Mario has no sting of grocery stores or car dealerships like most owners. Yeah, he gets a nice yearly paycheck from the profits on the team, but that is minor compared to what his shares are worth. At his age he deserves to enjoy being a really rich man, and cashing in is the way he will become one while he is still young enough to really enjoy it, not on a yearly check from the Pens.

 

[Jaded-Fan]

I won't listen, but I can't imagine what he has to say about them

"Well according to my sources, the Penguins don't feel like this franchise can stay valuable, so they're looking to sell as high as possible, Burke and Mario want their money back and won't care if the franchise is moved as long as they get the money their seeking"

This is what I am guessing:

Rob Rossi:

'According to my sources Mario is selling the Pens to Comcast who hopes to move the team to Philly to become their second team and to rename them The Flyers Jr.'

 

[Jacob]

It'll probably involve more shouting, stammering and snickering.

"Well, Mario wants out! So, so, so what that means to me is the team isn't viable! It's not viable financially! *snicker* And that's not good! Will this team move? I would NOT be surprised! Would not be surprised one bit.."

 

[Bennett Brauer]

Then it is a non-story.

Like I said, who can blame Mario? This is not a hobby to him like it is to Burkle. Mario has no sting of grocery stores or car dealerships like most owners. Yeah, he gets a nice yearly paycheck from the profits on the team, but that is minor compared to what his shares are worth. At his age he deserves to enjoy being a really rich man, and cashing in is the way he will become one while he is still young enough to really enjoy it, not on a yearly check from the Pens.

I agree, he never wanted to be a long term owner. He, along with Burkle, saved the Penguins from going bankrupt, gave us financial stability, etc. He did everything he set out to do and even won a Cup as a majority owner.

I'm nothing but thankful for Mario Lemieux and hope he enjoys his life as a part owner with the money he's earned.

This is what I am guessing:

I can't believe he has a job. Rossi has no business traveling with the team and being allowed to ask players and coaches questions, he is barely qualified to be a Bleacher Report writer.

 

[xxxxxxxxxxxxxx]

It'll probably involve more shouting, stammering and snickering.

"Well, Mario wants out! So, so, so what that means to me is the team isn't viable! It's not viable financially! *snicker* And that's not good! Will this team move? I would NOT be surprised! Would not be surprised one bit.."

"He's just not that GOOD OF AN OWNER. This team really rues the day when they got rid of Shero and Bylsma--two future Hall of Famers at their positions."

 

[Ogrezilla]

Quote to that effect?

If so good news. Burkle is the money behind all of this so is the primary concern with continuing to have adequate financing behind the team to keep the ability to spend to the cap.

As for Mario, if he is cashing in I can not blame him. He is in his 50's now, or just entered them, right? He could get many millions for most of his share. Why not enjoy them while he is still young? If that is all that this story is about then I am far less concerned.

The story is that Mario is looking to sell a part of his slice of the team. That's it.

 

[billybudd]

I know what Rossi will say without even listening.

"Mario feels he's lost the battle for the soul of the hockey club."

Months ago KIRK linked one of his podcasts, which I unfortunately listened to, and in it, Rossi made up some imaginary, behind-the-scenes war between 66 and Burkle, in which the former was Luke Skywalker and the latter the Emperor. I assume this new one is an elaboration on that.

 

[Waffle Fries]

KDKA mentioned Todd Reidbord as someone with potential interest.

 

[kodoshin]

KDKA mentioned Todd Reidbord as someone with potential interest.

Hmm, need something more sinister sounding. Baron Von Reidbord? Does that work?

 

[Darth Vitale]

MOD NOTICE:

If I see the word "Nutting" being posted in this thread, it better be something like:

"This just in, Nutting is not buying a stake in the Penguins."
"This just in, Nutting bought Burkle's share of the Penguins."
"This just in, Nutting expressed an interest / no interest in ownership of the Penguins."
"Nutting follows the NHL religiously and said ____ about the Penguins."

See what I did there? It's all about Nutting except really it's not -- it's all about the Penguins.

Anything to do with how cheap or not cheap he is as a pirates owner, things he did wrong as a pirates owner, things he did right as a pirates owner, things he would do better than the Cubs' owner (virtually everything I'm guessing), how much he loves the smell of fresh clipped grass in the morning or the pop of a fastball hitting a catcher's mit, or how much he loves Yogi-isms, or how he wants to reintroduce anabolic steroids in the game, is going to get deleted. Cuz the future ain't like it used to be.

 

[DegenX]

Nutting, Honey?

I'll see myself out

 

[Ugene Magic]

Nutting habla, nutting.