Bottom line is FSG is courting outside investors for their Penguins franchise. Maybe they sell a piece, or maybe they sell then entire thing.
The Jacobs Famly Delaware North Wants to Buy the Sabres but It Gets Complcated
- Thread starter Fenway
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The article says that they plan to maintain controlling interest of the Pens.
This is similar to the Pegulas selling a minority stake in the Bills as a short term cash grab. Lots of pro sports owners are doing this without selling a controlling interest in the club.
So, this is just another reason why I'm not buying the copium that Pegula sells the Sabres.
I can tell you that Pegula is talking to FSG about NESN taking over from MSG for TV.
Sounds similar to what Pegula did with the Bills. Get a big injection of money from selling a percentage of the team. Yet keep control
Perhaps the long game here for FSG is get a minority owner lined up for the Penguins to get immediate cash to deploy in their Celtics bid, but then perhaps look to sell entire team to minority owner in order to make an aggressive move to force the Jacobs family to sell Bruins and, by extension, get Deleware North to sell TD Garden, by using the threat of building another arena to house the Celtics as leverage. Maybe grant long term concession rights to DN for the Garden. There is also the NESN minority stake DN has as another deal variable.
With Pegula in talks with NESN already as Fenway states there is definitely communication between all the parties he mentioned in his original post. Sometimes deals emerge as talks progress. Still holding out hope for a Jacobs family intervention.
So the Jacobs family will own the Sabres, Fenway Group the Bruins, and Pegula the Penguins.
Penguins will be on NESN, Bruins will be on MSG, and the Jacobs family is going to re-launch the Empire Sports Network
Penguins will be on NESN, Bruins will be on MSG, and the Jacobs family is going to re-launch the Empire Sports Network
The building in the background is Delaware North Headquarters...
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Maybe he really likes the art deco style of the Calumet building which is on the right past Prima Pizza and Pasta? Given the size of his forehead in his tweets, it might be an architectural thing.
While I find this entire scenario highly unlikely, the one thing that gives me pause (in addition to that Weekes tweet) is the salary cap projections that came out. We clearly have no interest in spending to the cap as it exists now. Combine that with the franchise generally being run like a private equity portfolio company and I can talk myself into a sale being possible.
Maybe the red lights mean that a player used trade protection to block a trade to Buffalo?
AFAIK Josh Harris owns a majority stake in the Washington Commanders, Philadelphia 76ers, and NJ Devils
Harris is the "managing partner" for the Sixers and Devils.
Harris Blitzer Sports & Entertainment technically own the Sixers and Devils and Harris co-owns HBSE with David Blitzer.
My guess is that is how he got around it when purchasing the Commanders.
More info on the possible Celtic bidders - 4 bidders reported to be interested in Celtics sale
Always interesting how there are plenty of people who have no ties to a place who are willing to buy a team and no thought of the team moving. And then there are Buffalo sports fans who don't live in the rest of the sporting world and do nothing but worry about that very thing.
Always interesting how there are plenty of people who have no ties to a place who are willing to buy a team and no thought of the team moving. And then there are Buffalo sports fans who don't live in the rest of the sporting world and do nothing but worry about that very thing.
