News Article: Lemieux, Burkle exploring possible sale of Penguins

[cajal]

I'll eternally be grateful to Mario for saving the Pens on multiple occasions. Yes, he had a vested interest in doing so.. however, he was really good for Pittsburgh hockey for a long, long time.

That said, if Mario and Burkle want out, I am actually glad it's happening sooner rather than later. I know there will be a number of "KANSAS CITY/QUEBEC PENGUINS LOL" jokes in the coming months, but if they are able to find another affluent owner, this is fantastic. Mario lucked into a SC ring as an owner (thank you, draft luck) and has hired cronies ever since - definitely to the detriment of the team.


Thanks Mario for all you've done. Enjoy your retirement from ownership and make sure that Burkle takes Morehouse with him when he leaves.

LGP.

 

[T1K]

Marky Mark is gonna be an exciting owner

 

[MetalheadPenguinsFan]

A buddy of mine just told me about this.

Is it wrong that after the past 5+ years...I don't really care?

 

[DesertedPenguin]

Getting into the playoffs at all costs was the goal every year. If we get further great but they wanted the playoff revenue.

Who was rumored to purchase the team last time? I know Cuban was in the mix supposedly.

From the Trib in 2005:
http://triblive.com//x/pittsburghtrib/sports/penguins/s_459794.html#axzz3c2SAupki

Clarion Capital Partners, a New York City-based private equity firm headed by managing partner Marc Utay.

Sam Fingold, a Toronto native who owns a Hartford, Conn., real estate company, Kenyon Investments. Would partner with members of his family. Has said he might relocate the team to Kansas City if Pittsburgh does not build a new arena.

Lawrence Gottesdiener, a Massachusetts real estate developer, who might relocate the team to Hartford if Pittsburgh does not build a new arena.

Andrew Murstein, president of Medallion Financial Group. Has partnered with billionaire Mark Cuban, football legend Dan Marino and the principals at Shadyside real estate development firm Walnut Capital, Gregg Perelman and Todd Reidbord.

Jim Renacci, an Ohio businessman, who owns the Columbus Destroyers of the Arena Football League and serves as mayor of Wadsworth, Ohio.

That was before Jim Balsillie entered the picture in October. Balsillie is now persona non grata in the NHL, so no worries there.

 

[Account Terminated]

Here's my contribution to the story. Nothing new, but a few fun tweets added in.

http://lastwordonsports.com/2015/06/03/report-pittsburgh-penguins-sale/

I'm surprised by the news. Is there any specific reason why this decision has been made at this time? Seems odd to me.

 

[gordie]

Here's my contribution to the story. Nothing new, but a few fun tweets added in.

http://lastwordonsports.com/2015/06/03/report-pittsburgh-penguins-sale/

I'm surprised by the news. Is there any specific reason why this decision has been made at this time? Seems odd to me.

Because neither one is a committed owner and they want to get out and get their money while Crosby & Malkin are still here as valuable assets.

 

[cassius]

This is amazing news...

Mario has no business running a hockey team. Love the guy, but he just doesn't know how to hire the right personnel.

 

[DesertedPenguin]

Here's my contribution to the story. Nothing new, but a few fun tweets added in.

http://lastwordonsports.com/2015/06/03/report-pittsburgh-penguins-sale/

I'm surprised by the news. Is there any specific reason why this decision has been made at this time? Seems odd to me.

The team is stable. Probably worth more than it ever has been (except after 2009, but the new arena wasn't ready then). And it probably appeals to almost any prospective owner. For the hands-on type, a few moves could bring the Stanley Cup back immediately. For the mostly hands-off type who sees a new way of looking at hockey, there are a number of bright minds who would be available to run the hockey ops side. And for the really hands-off type, Jim Rutherford - for all his faults - is really well respected in the NHL, and the Penguins practically sell themselves thanks to the star power.

 

[billybudd]

Relo talk can stop. Building's too profitable. Team gives you control of the Arena's funds (amongst other things). Even if there was a more profitable market, Bettman's not allowing a financially solvent club with a new arena to change markets. Hell, they could be drowning in red and he still wouldn't allow it.

If you want to worry about anything, worry about Bob Nutting putting in a bid and selling off everyone he views to be not cost-effective. Which is practically everyone who's worth a damn.

Or worry about trade requests.

Team moving is a thing that has no possibility of happening until there's a new run on arena building in another 30 years.

 

[Account Terminated]

Because neither one is a committed owner and they want to get out and get their money while Crosby & Malkin are still here as valuable assets.

I guess it makes sense then. I'm just getting a good laugh out of the few people that think they could get relocated. Not every team sale leads up to the team moving.

 

[gordie]

This is amazing news...

Mario has no business running a hockey team. Love the guy, but he just doesn't know how to hire the right personnel.

Mario didn't hire Morehouse that was Burkle. Good Riddance to Ron Burkle. Maybe he can hire Morehouse to manage all his grocery stores?

 

[gordie]

I guess it makes sense then. I'm just getting a good laugh out of the few people that think they could get relocated. Not every team sale leads up to the team moving.

Nobody thinks that except enemy fans looking to troll.

 

[cassius]

Mario didn't hire Morehouse that was Burkle. Good Riddance to Ron Burkle. Maybe he can hire Morehouse to mange all his grocery stores?

I don't know who hired who... but we have a carer politician and a senile 60-something GM basically running our team.

It shouldn't be a shocker that the Penguins are in the position that they're in. When you hire literally the worst management team, subpar results should be expected.

Anyways, it's amazing to hear that someone new might potentially buy the team. This year was rough enough - I can't take another 3-4 years of the same stuff..

 

[Scandale du Jour]

Oh well, if they do sell, we will quickly see if the country club mentality came from the very top

 

[cajal]

I guess it makes sense then. I'm just getting a good laugh out of the few people that think they could get relocated. Not every team sale leads up to the team moving.

The relocation talk will come from the usual gang of rivalry-based idiots. Considering how freaked out I have been over the last three decades when the Pens had real financial issues, this sale talk is actually interesting - and not really frightening at all.

 

[DegenX]

So, what has the local media got to say? Scooped again

 

[billybudd]

Actually wonder if Pat Brisson might be interested in buying in. GM gig was never going to be lucrative enough to get his attention. Owner might be.

 

[ObsessedCreative*]

taking his ball and going home? I get being frustrated with the past 5 years, but man, I think he's done plenty for the franchise/city...?

He's one of my childhood heroes, but he's responsible for this organization being in the *******... He's one of the only true people who COULD have stopped this **** and didn't.

 

[DesertedPenguin]

So, what has the local media got to say? Scooped again

Kovacevic is the only one with anything new to add. He's reporting that Pens will be releasing statement, and that it is Lemieux - not Burkle - looking to sell off part of his stake.

Kovacevic saying Burkle isn't selling his portion.

 

[cassius]

He's one of my childhood heroes, but he's responsible for this organization being in the *******... He's one of the only true people who COULD have stopped this **** and didn't.

Bailing at a low water mark is somewhat questionable too.. but hey, I can't fault the guy. He deserves a hefty payday for all these he's done for this franchise and this city.

 

[brewski420]

Oh well, if they do sell, we will quickly see if the country club mentally came from the very top

My thoughts exactly!

 

[TNT87]

Well this is certainly interesting.

 

[billybudd]

Kovacevic is the only one with anything new to add. He's reporting that Pens will be releasing statement, and that it is Lemieux - not Burkle - looking to sell off part of his stake.

Kovacevic saying Burkle isn't selling his portion.

Makes me wonder about Brisson even more. He doesn't have the bank to buy out Burkle, I don't think, but he could buy out 66.

On a side note, it would be nice if these damned game of war ads didn't close my browser and open the App Store every time I accidentally click on one.

 

[DesertedPenguin]

Makes me wonder about Brisson even more. He doesn't have the bank to buy out Burkle, I don't think, but he could buy out 66.

On a side note, it would be nice if these damned game of war ads didn't close my browser and open the App Store every time I accidentally click on one.

I don't know. Lemieux owns a pretty sizeable chunk from what I've read.

I would imagine whoever is interested would likely be paying a huge amount, even for just a portion of ownership.

 

[Deutschland Dangler]

Bailing at a low water mark is somewhat questionable too.. but hey, I can't fault the guy. He deserves a hefty payday for all these he's done for this franchise and this city.

A low water mark?