Mario Selling Out

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BethlehemSteel
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Mario Selling Out

Post by BethlehemSteel » Tue Nov 16, 2021 8:33 pm

Mario is selling

https://www.audacy.com/937thefan/sports ... sox-owners

According to a report out of the Wall Street Journal, the Pittsburgh Penguins may be sold to the holding company that owns the Boston Red Sox.


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Fenway Sports Group LLC is in “advanced talks” to by the Penguins as soon as this week.

The Penguins have been owned by Mario Lemieux’s Lemieux Group LP since 1999, when he an Ron Burkle bought the franchise out of bankruptcy and saved it.

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As a player and owner, Lemieux has helped lead the Penguins to five Stanley Cup Championships since 1991.

Forbes reports that the Penguins are worth around $650 million as of last December.

The terms of the deal have not been revealed.

Fenway Sports Group also owns part of a NASCAR team and the Liverpool English soccer team.

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Pittsburgh Penguins


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BethlehemSteel
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Post by BethlehemSteel » Tue Nov 16, 2021 8:45 pm

Expect Crosby to be moved after waiving his no trade clause

Malkin will move on too

Fenway sports group will clean it out !!
"If our team doesn't face enough adversity early on in a season, I create it. Nothing builds a team like adversity." ~ Mike Tomlin
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BethlehemSteel
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Post by BethlehemSteel » Tue Nov 16, 2021 8:58 pm

Burkle getting out 100%
Mario retaining some smaller stake
So that will affect what I said previously
"If our team doesn't face enough adversity early on in a season, I create it. Nothing builds a team like adversity." ~ Mike Tomlin
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MWS71
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Post by MWS71 » Tue Nov 16, 2021 9:23 pm

BethlehemSteel wrote:
Tue Nov 16, 2021 8:58 pm
Burke getting out 100%
Mario retaining some smaller stake
So that will affect what I said previously
The instant reversal on your prognostication gave me a pretty good laugh, thanks. Can't imagine why a Flyers guy would be so quick to ship Sid and Geno out of PA :lol: :lol:

I follow Liverpool pretty closely, but it's hard to make a guess how FSG ownership will affect the Pens in the near term because of how different the economics in soccer and hockey are. FSG have deep pockets and spend big on wages in Liverpool, but they don't seem to spend too much money on the club that the club doesn't generate itself. And as the core of that team approaches 30+, FSG seems to much prefer losing a guy too early than paying him too much for past performance. (They had no issue trading Mookie Betts once he didn't fit their budget, either.)

Now at the top levels of European Club soccer there's 3 or 4 teams with unlimited wealth, which has really warped the market for players, so maybe it's not really comparable. Plus, hockey salaries are peanuts compared to soccer+baseball. With a salary cap maybe FSG won't run Malkin and Letang out of town, and I assume that Mario's continued presence will have some influence on that decision.

I've been pretty confident that 71/58 will sign contracts that coincide with Sid's contract expiration, for roughly the same amount they're making now. Today is the first time I'm not so sure.

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BethlehemSteel
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Post by BethlehemSteel » Tue Nov 16, 2021 9:40 pm

The radio guys on 937 actually said it first before the info came down about Mario staying on with smaller stake

Why would they stick around if Mario left 100%

The team is looking at a core rebuild soon
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Post by fractalsteel » Tue Nov 16, 2021 10:20 pm

From my understanding the Pens have always been for 'sale' as long as the price was right and the group fit what Mario/Burkle wanted.
As far back as 2015 Mario hired Stanley Morgan to look at the POSSIBILITY of selling the team.
https://www.tsn.ca/lemieux-burkle-explo ... s-1.299085

As far as rebuilding the core there have to be some decisions made about the big 3. If he wants to stay, then Sid is still a top player and will be at least 2 more years. Letang is still playing very good hockey and a two year extension is worthwhile IMO.
Now, Malkin is the wild card.
If he had been healthy the past three years it would be a no brainer to keep him but that hasn't been the case for the most part. Take that salary, add some FA pieces to go along with Sid, Letang, Guentzel, Rust, Zucker, and Kap along with a few other developing players such a Marino, Pettersson.
Dumo isn't old so there is another piece.
Then again, the minors aren't really stocked though there is some talent. All those years of chasing one more cup ate into the Cupboard for sure.

No longer a cup contender but they could still be chasing the playoffs for a few years.

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Post by Pabst » Wed Nov 17, 2021 7:51 pm

fractalsteel wrote:
Tue Nov 16, 2021 10:20 pm
As far as rebuilding the core there have to be some decisions made about the big 3. If he wants to stay, then Sid is still a top player and will be at least 2 more years.
Important note here - Sid's contract was front loaded, and his actual salary plummets to $3m/year for the final three years of his contract. Even if he declines to a 60 point player in his final 2 or 3 seasons, his cap hit really isn't bad, and he's dirt cheap from a cash perspective. Sid's not going anywhere.

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fractalsteel
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Post by fractalsteel » Wed Nov 17, 2021 9:55 pm

The only way I see Sid leaving is if he comes to the BIrdies and tells he wants out. I'll wager they would accommodate him.

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Post by Ice » Thu Nov 18, 2021 2:27 pm

fractalsteel wrote:
Wed Nov 17, 2021 9:55 pm
The only way I see Sid leaving is if he comes to the BIrdies and tells he wants out. I'll wager they would accommodate him.
I really, really don't want to see that happen.
Nothing left to do but smile, smile, smile...

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Pabst
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Post by Pabst » Thu Nov 18, 2021 2:52 pm

Ice wrote:
Thu Nov 18, 2021 2:27 pm
fractalsteel wrote:
Wed Nov 17, 2021 9:55 pm
The only way I see Sid leaving is if he comes to the BIrdies and tells he wants out. I'll wager they would accommodate him.
I really, really don't want to see that happen.
Me neither, but where would he go?

Sid is notoriously tight lipped about his personal life, and he shuns the spotlight off the ice. I can't imagine him wanting to go to a major media market like LA or NY, and i don't know that he'd want to go to a Canadian market and the constant media harassment he'd get there.

As implied, though - Sid is one of the very few athletes in Pittsburgh sports history who deserves to be accommodated in any way he wants.

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Post by fractalsteel » Thu Nov 18, 2021 10:20 pm

Pabst wrote:
Thu Nov 18, 2021 2:52 pm
Ice wrote:
Thu Nov 18, 2021 2:27 pm
fractalsteel wrote:
Wed Nov 17, 2021 9:55 pm
The only way I see Sid leaving is if he comes to the BIrdies and tells he wants out. I'll wager they would accommodate him.
I really, really don't want to see that happen.
Me neither, but where would he go?

Sid is notoriously tight lipped about his personal life, and he shuns the spotlight off the ice. I can't imagine him wanting to go to a major media market like LA or NY, and i don't know that he'd want to go to a Canadian market and the constant media harassment he'd get there.

As implied, though - Sid is one of the very few athletes in Pittsburgh sports history who deserves to be accommodated in any way he wants.
Me either but Gretzky was traded more than once.

How about Edmonton? Under the radar to a degree and maybe help the dynamic duo there get over the hump?

It might come down to what power Mario can wield if the new ownership takes over.

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Post by Hacksaw Jim Duggan » Mon Nov 29, 2021 9:56 am

Hard to imagine the Penguins won't be a cap team. I imagine not much will change. Happy for Mario to cash out. I like some of the things Hextall has been doing. If I had to guess, all three of the Penguins main guys will be with the team for their career duration. Malkin and Letang can do a lot to help this team win by taking less money. Malkin probably owes the team that much for basically being on IR for years. Letang deserves a raise, but I wouldn't give him much more. If one of those three walks, I think the team should probably start selling off guys.

A lot of the big judgment calls will come with some of the other players on the roster. What to do with Rust, Zucker, Carter, Kapanen in the next two years? Carter will likely retire. The worst thing this team can do is give big money to Kapanen and Rust. Rust is mostly toast. I wanted to get rid of the player before he signed the 3.5 mill a year contract. You don't keep effort guys like that. Effort wears out. Bodies break down. Crosby and Malkin have made guys like Rust a lot of money they otherwise wouldnt have. The Dupuis grinder types. Now, I think they need real talent supporting them on those lines. You don't get that by resigning energy third liners to play with them like Zucker and Rust, especially ones entering or in their 30s with a lot of wear. You are basically getting the same sort of production from Evan Rodrigues this year. These guys are a dime a dozen. It's OK to pay someone like McGinn close to 3 mil. One is enough. The rest of the bottom six should be making $1.5 at most per player and should be filled with players eager to compete. I hate teams that devote massive dollars to grinders.

I'm actually a fan of this year's team. I think a few "conservative buyer" moves can push this team ahead in the playoffs a bit. Think like what they did with Carter last year. They need a bit more variance on the lines. A hockey trade involving Pettersson makes a whole lot of sense. I'd hope someone like Zucker or Rust goes on a tear and gets shipped for some for picks.

All said, the team would be best served to acquire assets and build an identity before making one last push in 23-24, hopefully with a few younger guys making a real impact. Again, a lot comes down to how they handle guys like Kapanen, Rust, and Zucker. You can't devote money like that to carry the top 6. The Penguins have three forwards signed in 23-24: Crosby, McGinn, and Guentzel. A can't emphasize enough how contract decisions with this group is the most important thing to watch moving forward.

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Post by JackLambert58 » Tue Nov 30, 2021 11:59 am

One thing's for sure. The Penguins ownership will remain by light years more competent than the other two major sports franchises in the city.
"Jack Lambert is mean and relentless wherever he goes, on and off the field! I do remember many times he would chase me in practice, but no way would I let him catch me" - Franco Harris

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