B21 Posted June 3, 2015 Share Posted June 3, 2015 Any thoughts on who would look to buy? Mark Cuban? http://www.tsn.ca/lemieux-burkle-exploring-possible-sale-of-penguins-1.299085?fb_action_ids=10204718070287869&fb_action_types=og.shares Pittsburgh Penguin owners Ron Burkle and Mario Lemieux have hired Morgan Stanley to explore the possibility of selling some or all of the NHL franchise.It doesn't mean Burkle and Lemieux are necessarily getting out but they are looking at various options. It's believed Lemieux, perhaps more than Burkle, may have an interest in getting his equity share out of the franchise.The team released a statement on Wednesday evening to discuss the process."We conduct periodic reviews of our business and, because we have received several inquiries about the franchise in recent years, we decided to engage Morgan Stanley for their insight and counsel," Lemieux and Burkle said in a joint statement. "After buying the team out of bankruptcy, ensuring its long-term future in Pittsburgh and creating a strong foundation for continued success, we believe it is time to explore our options."Even if Lemieux and/or Burkle decide to sell, they have some interest in retaining some involvement or connection with the team."Our goal all along was to solidify the franchise both on and off the ice," Lemieux said. "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."Morgan Stanley is the same company that facilitated the sale of the Buffalo Sabres to Terry Pegula. Link to comment Share on other sites More sharing options...
Podein25 Posted June 3, 2015 Share Posted June 3, 2015 The name Burkle makes me laugh.That is all. Link to comment Share on other sites More sharing options...
Poulin20 Posted June 4, 2015 Share Posted June 4, 2015 That is all Link to comment Share on other sites More sharing options...
ScottM Posted June 4, 2015 Share Posted June 4, 2015 How about the Saskatoon Penguins? Give Saskatchewan another chance! That is all. Link to comment Share on other sites More sharing options...
murraycraven Posted June 4, 2015 Share Posted June 4, 2015 It doesn't mean Burkle and Lemieux are necessarily getting out but they are looking at various options. It's believed Lemieux, perhaps more than Burkle, may have an interest in getting his equity share out of the franchise.The team released a statement on Wednesday evening to discuss the process."We conduct periodic reviews of our business and, because we have received several inquiries about the franchise in recent years, we decided to engage Morgan Stanley for their insight and counsel," Lemieux and Burkle said in a joint statement. "After buying the team out of bankruptcy, ensuring its long-term future in Pittsburgh and creating a strong foundation for continued success, we believe it is time to explore our options."Even if Lemieux and/or Burkle decide to sell, they have some interest in retaining some involvement or connection with the team."Our goal all along was to solidify the franchise both on and off the ice," Lemieux said. "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."Morgan Stanley is the same company that facilitated the sale of the Buffalo Sabres to Terry Pegula. http://www.tsn.ca/lemieux-burkle-exploring-possible-sale-of-penguins-1.299085 Link to comment Share on other sites More sharing options...
Polaris922 Posted June 4, 2015 Share Posted June 4, 2015 Let the panic mongers begin.... LOL Link to comment Share on other sites More sharing options...
notfondajane Posted June 4, 2015 Share Posted June 4, 2015 Let the panic mongers begin.... LOLDoes this mean the Pens are going to Kanas City? Link to comment Share on other sites More sharing options...
notfondajane Posted June 4, 2015 Share Posted June 4, 2015 Going to Kansas City, Kansas City here they come! Link to comment Share on other sites More sharing options...
murraycraven Posted June 4, 2015 Share Posted June 4, 2015 sounds like Mario is getting out while the getting is good... Link to comment Share on other sites More sharing options...
B21 Posted June 4, 2015 Author Share Posted June 4, 2015 sounds like Mario is getting out while the getting is good... Turning $20,000,000 into around $110,000,000 over 15 years. Not a bad investment. Link to comment Share on other sites More sharing options...
B21 Posted June 4, 2015 Author Share Posted June 4, 2015 Let the panic mongers begin.... LOL Not. Going. Anywhere. Link to comment Share on other sites More sharing options...
jammer2 Posted June 4, 2015 Share Posted June 4, 2015 Was Uncle Gary referring to the Pens as the team rumored to be moving....I doubt it, just asking.... Link to comment Share on other sites More sharing options...
radoran Posted June 4, 2015 Share Posted June 4, 2015 The Hamilton Penguins? Link to comment Share on other sites More sharing options...
flyercanuck Posted June 4, 2015 Share Posted June 4, 2015 @radoran There IS a harbour there...though I've never seen any penguins in it. I once split up with a girl I was dating just cause she lived there. Link to comment Share on other sites More sharing options...
mojo1917 Posted June 4, 2015 Share Posted June 4, 2015 If I remember correctly this is Burkle's MO, get in, make the $, get out while the value is high. I don't know if anyone should be surprised by this news. Burkle was always going to sell his stake. Now Mario, I don't know what he'll do , he's a pretty loyal guy , so I think he would take to pimping before he'd let someone move the team. I don't think he has the financial wear-with-all to "own" the team without a partner though. This will be interesting ...perhaps, to follow, I think someone would have to go Steve Balmer crazy high offer to get Mario's shares and I don't know if there are a lot of those types of dudes around. Link to comment Share on other sites More sharing options...
B21 Posted June 4, 2015 Author Share Posted June 4, 2015 If I remember correctly this is Burkle's MO, get in, make the $, get out while the value is high. I don't know if anyone should be surprised by this news. Burkle was always going to sell his stake. Now Mario, I don't know what he'll do , he's a pretty loyal guy , so I think he would take to pimping before he'd let someone move the team. I don't think he has the financial wear-with-all to "own" the team without a partner though. This will be interesting ...perhaps, to follow, I think someone would have to go Steve Balmer crazy high offer to get Mario's shares and I don't know if there are a lot of those types of dudes around. According to the articles written so far, it seems there are 3 options on the table for Lemieux and Burkle. Sell all. Sell some. Sell none. If Morgan Stanley comes back and tells them to expect that the value of the franchise will triple in the next 10 years, I can see things remaining status quo. If they don't like the Morgan Stanley predictions, I would assume they sell all or "most". I think they both want to remain involved - just in a smaller capacity. Especially Mario. You don't spend $20,000,000 on a mansion in Montreal not to live there. More interesting to me is...who buys? Cuban's name will always be out there because of his Pittsburgh ties. Other possibles? One that makes sense is Stanley Druckenmiller. Billionaire hedge fund manager and Pittsburgh native. Tried to buy the Steelers in 2008 when some of the Rooney family members were forced to sell due to their gambling interests (forbidden by NFL bylaws). Link to comment Share on other sites More sharing options...
flyercanuck Posted June 4, 2015 Share Posted June 4, 2015 @B21 I think the entire board should split in on them. Of course we all vote on trades and draft choices Link to comment Share on other sites More sharing options...
Poulin20 Posted June 4, 2015 Share Posted June 4, 2015 Going to Kansas City, Kansas City here they come! We think alike and not only in our dislike of Jane Fonda (See post #3 ). Link to comment Share on other sites More sharing options...
jammer2 Posted June 4, 2015 Share Posted June 4, 2015 @Poulin20 Click your damn heels Dorothy, we're a coming home!!! Link to comment Share on other sites More sharing options...
murraycraven Posted June 4, 2015 Share Posted June 4, 2015 Turning $20,000,000 into around $110,000,000 over 15 years. Not a bad investment. not a bad investment at all... that is one large return!! Link to comment Share on other sites More sharing options...
notfondajane Posted June 4, 2015 Share Posted June 4, 2015 We think alike and not only in our dislike of Jane Fonda (See post #3 ).Local station here in Pittsburgh say that the team is staying! I have mix emoon this! A new arena, sellouts or extremely close to sellouts,would suggest that the team will stay! Somewhere in the back of my mind says there may be a back door plan!! Link to comment Share on other sites More sharing options...
notfondajane Posted June 13, 2015 Share Posted June 13, 2015 Any thoughts on who would look to buy? Mark Cuban? http://www.tsn.ca/lemieux-burkle-exploring-possible-sale-of-penguins-1.299085?fb_action_ids=10204718070287869&fb_action_types=og.shares Pittsburgh Penguin owners Ron Burkle and Mario Lemieux have hired Morgan Stanley to explore the possibility of selling some or all of the NHL franchise.It doesn't mean Burkle and Lemieux are necessarily getting out but they are looking at various options. It's believed Lemieux, perhaps more than Burkle, may have an interest in getting his equity share out of the franchise.The team released a statement on Wednesday evening to discuss the process."We conduct periodic reviews of our business and, because we have received several inquiries about the franchise in recent years, we decided to engage Morgan Stanley for their insight and counsel," Lemieux and Burkle said in a joint statement. "After buying the team out of bankruptcy, ensuring its long-term future in Pittsburgh and creating a strong foundation for continued success, we believe it is time to explore our options."Even if Lemieux and/or Burkle decide to sell, they have some interest in retaining some involvement or connection with the team."Our goal all along was to solidify the franchise both on and off the ice," Lemieux said. "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."Morgan Stanley is the same company that facilitated the sale of the Buffalo Sabres to Terry Pegula.yes I would like to see Mark Cuban as an owner! Link to comment Share on other sites More sharing options...
notfondajane Posted July 16, 2015 Share Posted July 16, 2015 If this team is actually sold and Mario and Ron are not involved after the sale I'm hoping they leave a descent product behind! Link to comment Share on other sites More sharing options...
Polaris922 Posted September 8, 2015 Share Posted September 8, 2015 If this team is actually sold and Mario and Ron are not involved after the sale I'm hoping they leave a descent product behind!I got your message. No I haven't heard any more about this. Link to comment Share on other sites More sharing options...
ruxpin Posted September 9, 2015 Share Posted September 9, 2015 Flyers fans start GoFundMe site to buy Penguins LOL Link to comment Share on other sites More sharing options...
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