News Article: Lemieux, Burkle exploring possible sale of Penguins

[theicebox]

I think David Morehouse is part of Fifa.

 

[Shwag33]

It's funny people think this is good news. Wait till we get an owner on the fringe of having enough money with the low interest rates.... one losing season and we go to the cap floor.


While there's a lot to dislike, it can get much much worse.

 

[Fordy]

It's funny people think this is good news. Wait till we get an owner on the fringe of having enough money with the low interest rates.... one losing season and we go to the cap floor.


While there's a lot to dislike, it can get much much worse.

lmao

 

[djt153]

again, david tepper

 

[penzweiser]

No way the team gets moved, is there

 

[Riptide]

Same. I hope this doesn't raise relocation issues.

It wouldn't. If 'new' owners wanted to move the team, the NHL would force them to sell it to someone who'd want to keep it in Pittsburgh. With the building, fan support and team we have, that won't be an issue. Teams (potentially - I mean we've only seen 1 in the last 15 or so years) move when no one wants to own them in their current location. Winnipeg moved because the Sprint group wanted them out of the building. Realistically, had that not been the case, they'd still be in Atlanta - a la Phoenix.

 

[Riptide]

Ease up on the hysterics.

This was always the end game for Lemieux. He bought the team to salvage the money he was owed. Making sure it didn't leave Pittsburgh, which he grew to really love, was a big secondary concern.

But he was willing to sell the team in 2005. He's never been a visible owner. He's allowed those underneath him to be the visible face of the franchise during major news announcements. He and Burkle preferred to stay in the shadows.

It was only a matter of time until Lemieux decided he'd recovered enough of his capital and that the Pens were stable. He'll sell most - probably not all - of his shares, keep an emeritus position on the board or something, and kick his feet up back home.

Burkle's a businessman. If he's looking to sell his portion, it's probably because he's eying a new venture and wants the capital.

Agree 100%. And honestly it's hard to fault him.

 

[ObsessedCreative*]

No way the team gets moved, is there

I assume about a 99% chance no... i'm sure there would be a MASSIVE $$$$ figure needed to be piad by the new owner for breaking the 30 year lease that no one would want to foot the bill for... but at this point with this organization, who gives a ****.

 

[BrunoPuntzJones]

again, david tepper

I'd rather get Jon Taffer.

 

[Jacob]

Forget Mark Cuban. Has nothing to do with Pittsburgh, just like Joe Namath or Stan Musial. Their home became somewhere else and in this case Cuban's home is Dallas.

Does Burkle have any ties to Pittsburgh?

 

[WayneSid9987]

From Mario's perspective, it's the perfect time to get out.
And Burkle, i don't think, wants to have a major stake with Mario almost out to fully out.

Sellers can point to the new sharing of the pie arrangement and show it can be a pretty profitable venture and point to Sid/Geno still having plenty of yrs left. The infrastructure is all built with lease term and a brand spanking new 2 rink UPMC training facility opening in August.

All eyes/ears on the SC Final opening tonight and they announce this. Not a co-incidence.

 

[penzweiser]

Who would be guys that would really be looking to buy an nhl team and specifically in Pittsburgh. I'm doubting Mark Cuban.

 

[Jacob]

I'd rather get Jon Taffer.

*gets in Rob Scuderi's face* YOU'RE MAKING PEOPLE SICK!!

 

[Ogrezilla]

It's funny people think this is good news. Wait till we get an owner on the fringe of having enough money with the low interest rates.... one losing season and we go to the cap floor.


While there's a lot to dislike, it can get much much worse.

did you miss the part where its just Mario, and he's not even looking to sell all of his part of the ownership?

 

[Son Goku]

This kind of makes me sick to my stomach

 

[Honour Over Glory]

Is this a new thing now where everyone turns into idiots and latches in to the worst possible meaning to every god damned thing?

****ing hell.

 

[Til the End of Time]

there should be no discussion of relocation. the team is firmly entrenched in pitt. not even worth mentioning.

the real issue is that the penguins are not a big market team, and unless the penguins get an uber wealthy owner willing to burn money (unlikely), they are not likely to continue to spend to the cap. lemieux and company said as much, that they were only spending to the cap because this team was a real contender and they had the money from the new arena deal. being among the leagues biggest spenders is not the new norm for the penguins, more of an aberration based on a series of fortunate events.

the past five or so years was the penguins prime opportunity to win a cup, for numerous reasons including the age of their core but also the finances available to the team. both of those will soon be ending.

actually, all this is true whether lemieux is the owner or not. but this news should wake people up from the fantasy that this is a team that can spend as much as philly, ny, chicago, los angeles, etc. this is a small market team.

regarding lemieux wanting to sell, this could be good news or bad news. good news if they got an uber wealthy owner looking to win at any cost. bad news if they have a cost conscious owner who wants to maximize profit.

considering this is a small market team with a cup window that is nearly closed, i think they are more likely to attract the latter sort of owner, which would be bad news.

we shall see.

 

[Honour Over Glory]

Eh I don't think they are going to suddenly stop spending to be a competitive team, as long as Crosby & Malkin are on the team, this team is going to want to try to stay competitive. But this time, the need to rely on developing their own top 6 forwards and top 4 defensemen. Something we all know.

It seems like Mario and maybe Burkle want to take a step back with having majority shares, it adds a few more people perhaps, to the fold if anything. That might be a good thing because they might be more inclined to have better hockey people in charge to win more championships.

 

[Ugene Magic]

It also could be best for the team since they and the league have butted heads the last so many years. Having some new front men can't hurt.


There's no way they sell the majority to someone looking to move the team. It will 100% certainty they make it a stipulation the team stays put. They still benefit it staying put.

 

[Freeptop]

This could end up quite entertaining if the new owner(s) value spending to the cap every year less than the current one's do. You think you're depressed about their lack of youth and draft picks now?

If new owners were less interested in spending to the cap, wouldn't that mean they'd want more players on ELCs, and fewer overpriced UFAs?

I'd worry more about keeping talented players once those ELCs expire, if that were the case...

 

[PensPlz]

Las Vegas Penguins here we come.

 

[MrBurghundy]

Is this a new thing now where everyone turns into idiots and latches in to the worst possible meaning to every god damned thing?

****ing hell.

No its not. On a positive note however, I've found some new additions to my ever growing ignore list. It's nice when we get a thread like this that brings them all to one place to make it easier for me to find them.

 

[penzweiser]

If new owners were less interested in spending to the cap, wouldn't that mean they'd want more players on ELCs, and fewer overpriced UFAs?

I'd worry more about keeping talented players once those ELCs expire, if that were the case...

As long as the team remains in Pittsburgh, I'll remain a happy fan! The part that would worry me is about the teams willingness to spend up to the cap floor. This would mainly worry me initially because we don't have a huge stockpile of prospects and quite a few needs. If the team does trend toward not spending too the cap, we will need to improve our drafting talent evaluation, obtain more picks on a yearly basis and identify college free agents with potential that are cheaper initial investments.

 

[BrunoPuntzJones]

It would be really interesting to see if the Pens got a skinflint owner and were forced to play moneypuck for a few years.

 

[Stad]

Is this a new thing now where everyone turns into idiots and latches in to the worst possible meaning to every god damned thing?

****ing hell.

That's how this board has always been