Pittsburgh Penguins Sale Bid Coming Next Week
When an NHL teams hits the market it’s anyone’s guess how quickly that team will sell. But, apparently not if you have Sidney Crosby. There are reports that the Pittsburgh Penguins sale is quickly moving forward. Mario Lemieux came to the rescue when the Penguins needed him most, and in true business fashion the franchises greatest player is hitting the eject button and putting his team up for grabs. Lemieux owns the Pittsburgh Penguins along with Ron Burkle; it wasn’t long ago that rumors of a Pittsburgh Penguins sale came out. Now just about a month later a bid is expected to come in sometime next week.
The Penguins value was pegged at $565 million according to report from Forbes, however like many sales of this nature it is rumored that the unknown bidders will be coming in upwards of $800 million.
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Owning the Penguins has never been about money; well, let’s be honest everything is about money. But when we are talking about Lemieux and Pittsburgh it was a no brainier that Mario would try and save the day.
"Our goal all along was to solidify the franchise both on and off the ice,” Lemieux said in the statement. “Our star players are signed to long-term contracts, they’ve got a deep and passionate 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.According to TSN, which first reported the news, Lemieux is thought to have the greater interest in getting his equity share out of the franchise. But should Burkle and Lemieux choose to sell, they would like to retain some involvement with the team. Lemieux may consider retaining a smaller ownership stake if he does indeed sell, a source told ESPN.com’s Pierre LeBrun.”ESPN"
Fast forward; a Stanley Cup Championship and arguably the NHL’s top offensive weapon that thought of simply saving the team has turned into dollar bills piled as high as Mario can see. It’s not every day a franchise like the Penguins hits the market, and it seems it will not be out there for long. If the Pittsburgh Penguins sale goes through there is little need for concern on the fans part. The Penguins have a lease with Pittsburgh that carries them all the way to 2040.
It’s hard to believe a Pittsburgh Penguins franchise without Mario Lemieux somehow involved, but cashing out when the market is ripe is smart. One never knows what the future holds and a future without Sidney Crosby could change everything.
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