News Article: Lemieux, Burkle exploring possible sale of Penguins

[Penguinator]

I've got Nutting...

 

[Darth Vitale]

bas tards, the lot of you.

 

[Honour Over Glory]

I have nutting to say about this until we have a better pictures of suitors that might be really interested in the team, until then, it's nutting to worry about.

 

[Jag68Sid87]

The only name I've heard is Pat Brisson's group. But would Mark Cuban be someone with interest here? I am pretty sure he has been interested in buying the team in the past.

I think he would be a breath of fresh air, both for this franchise and the league in general.

 

[WayneSid9987]

The only name I've heard is Pat Brisson's group. But would Mark Cuban be someone with interest here? I am pretty sure he has been interested in buying the team in the past.

I think he would be a breath of fresh air, both for this franchise and the league in general.

Friedman asked him and he said he wouldn't be interested right now.

 

[Guins71]

Hopefully, if this team gets new owners, they get rid of those god awful vegas gold uniforms. It's been long overdue since they changed back to the old gold. I thought the third jersey would eventually turn into the home jersey and they'd make a white one, but I guess not.

 

[Shady Machine]

Hopefully, if this team gets new owners, they get rid of those god awful vegas gold uniforms. It's been long overdue since they changed back to the old gold. I thought the third jersey would eventually turn into the home jersey and they'd make a white one, but I guess not.

Is 1 season your definition of "eventually"?

Maybe they will make the 3rd's their full time uniforms, but it's going to be a slow progression. Gotta milk all the dollars in jersey sales you can.

 

[Jacob]

The gold is fine, the Edge stock template is horrible.

 

[Ogrezilla]

The gold is fine, the Edge stock template is horrible.

the gold was fine. Then it became vegas tan.

vs

 

[Jacob]

I guess you're right.

 

[Ogrezilla]

I guess you're right.

i mean, I still don't hate it. The design is worse than the color. So you're not wrong either.

We just have very bland uniforms. Stock template, and its black, white and beige

 

[Jag68Sid87]

i mean, I still don't hate it. The design is worse than the color. So you're not wrong either.

We just have very bland uniforms. Stock template, and its black, white and beige

I agree, the pre-2004 lockout jerseys we had were awesome, I loved them. I bought three of them within a short period of time. The difference is quite significant imo.

I still prefer turning our current thirds back into the regular jerseys by adding a white or yellow alternative but I would not mind at all to see the early 2000's look restored, even as 3rd-4th jerseys.

 

[Stad]

http://prohockeytalk.nbcsports.com/2015/07/13/report-bid-to-buy-penguins-expected-next-week/

The rumored Pittsburgh Penguins sale appears to be moving quickly.

Just over a month after owners Mario Lemieux and Ron Burkle hired Morgan Stanley to “oversee a review of their strategic options,” the Pittsburgh Business Times now reports that an investors group is expected to make an offer to buy the franchise by next week.

More:

The identities of the bidders and size of the bid were not disclosed, although some who have done deals in the National Hockey League said the team could sell anywhere from $700 million to $850 million.

Last fall, Forbes priced the Pens at $565 million, a price many believe is low given its equity in the real estate development at the former Civic Arena site.

Given the short supply of NHL teams that are on the block and as financially stable as the Penguins franchise, “This is unusual and it’s not like there are five teams for sale,” said a professional sports investor who asked not to be identified.

After word got out last month about investigation a potential sale, Lemieux addressed the rumors in a statement.

“Our goal all along was to solidify the franchise both on and off the ice,” he said. “Our star players are signed to long-term contracts and they’ve got a deep and passionate fan base to support them, and I believe the Penguins are well-positioned for the future.

“Regardless of what happens, I plan on staying involved with the team in some capacity, and Ron and I plan to retain an ownership stake.”

Morgan Stanley is the same company that facilitated Terry Pegula’s purchase of the Buffalo Sabres in February of 2011. It’s also worth noting that the Penguins’ lease with Consol Energy Center runs until 2037 and, last month, Mayor Bill Peduto said it included “guarantees that there are no options to break it,” essentially shooting down any notion of the team relocating.

 

[Darth Vitale]

Welp... they you go. I'm all for it if they bring an owner who gets rid of losers like David Morehouse who have no business involving themselves in hockey operations, and perhaps, how you say... gut any toxic remnants of the country club. More likely though it'll just be some other super-rich dude like Burkle who is not close to the game / looking at it strictly as an investor.

 

[WickedWrister]

I actually forgot about the sale of the franchise this past month with all the free agency and Kessel talk. That article says a potential sale could happen as soon as next week? I'm really interested in seeing who the investor group is.

 

[plaidchuck]

I doubt you'll see any change in philosophy or culture with the organization.

 

[Pete Gas]

Vince McMahon is getting into hockey, he's buying that stake.

 

[Kristopher Letang]

Vince McMahon is getting into hockey, he's buying that stake.

And then,

To every clown out there

 

[Pete Gas]

And then,

To every clown out there

Haha can see him doing that to Moorehouse

 

[Boocock]

Haha can see him doing that to Moorehouse

But then, he'd start skating Crosby with Adams and Glass to try to break the heel. And Mario Lemieux would have to "come back" a la Hulk Hogan to stop him, only he'd be wearing a Canadian Captain America ripoff outfit.

Yep.

 

[Shwag33]

Even though he said he's out, I hope it's cuban.

 

[Le Magnifique 66]

Even though he said he's out, I hope it's cuban.

Agreed, hopefully he had a change of heart and is willing to take another crack at it

 

[SwordofStMichael]

Cuban is interesting but is it realistic?
I don't think the NHL owners like him at all.
He has said before regarding the Pirates that Pittsburgh is too small of a market to make any real money, and that's considering how lucrative MLB franchises are.
Would an NHL team, even one as profitable as the Penguins, really be worth the trouble for someone like Cuban?

 

[Shady Machine]

Cuban is interesting but is it realistic?
I don't think the NHL owners like him at all.
He has said before regarding the Pirates that Pittsburgh is too small of a market to make any real money, and that's considering how lucrative MLB franchises are.
Would an NHL team, even one as profitable as the Penguins, really be worth the trouble for someone like Cuban?

I don't think it's worth the trouble of any owner at this point (at least not one that is looking to make serious money). Most of the appreciation of the franchise has already happened. Say they sell the team for 800MM. Does anyone really see this team being worth the 1-1.5B in 10 years? I don't, unless they stumble upon the next Crosby in 10 years.

 

[66-30-33]

I thought only Mario is selling his share of the team and Burkle is staying?