News Article: Penguins Sale Possible This Week

[Clare2904]

Mario speaks

 

[Colonel Mustard]

At least we won’t have to worry about funding going forward, slots for mario anyone?

 

[Clare2904]

No changes, except ownership

 

[Pens x]

Hopefully, the new ownership group cleans house in the front office at the end of the season. I guess it’s tough to fire people immediately, even if they’ve more or less simply cashed a paycheck for parts of two seasons for doing nothing to very little.

 

[Lust for Life]

This is very likely extremely good news.

 

[spcastlemagic]

Man, anybody who was a fan during all the ownership drama from 1997 to, well, when the new arena got built... this all feels a little surreal. Just a nice smooth transition into continued financial stability. I love it.

 

[Night Shift]

Man, anybody who was a fan during all the ownership drama from 1997 to, well, when the new arena got built... this all feels a little surreal. Just a nice smooth transition into continued financial stability. I love it.

100% this. We've come a long way.

 

[DesertedPenguin]

Hopefully, the new ownership group cleans house in the front office at the end of the season. I guess it’s tough to fire people immediately, even if they’ve more or less simply cashed a paycheck for parts of two seasons for doing nothing to very little.

Lemieux is still the member of ownership overseeing management. No changes will occur.

 

[Night Shift]

Lemieux is still the member of ownership overseeing management. No changes will occur.

@Pens x

 

[Pens x]

@Pens x

Mario doesn’t have a controlling interest anymore. You don’t spend nearly $1 billion for a team that is run by a complete joke as GM. He will be gone soon enough if the new group isn’t incompetent.

I have some hope that the front office and coaching staff might actually be held accountable for the lack of success over the last four years. I don’t want to waste 4 years while Hextall does nothing, and for the first time, I have some hope we won’t have to.

I don’t want to hear people praising a GM for downgrading talent in the bottom six as his big move again.

 

[MrBurghundy]

Mario doesn’t have a controlling interest anymore. You don’t spend nearly $1 billion for a team that is run by a complete joke as GM. He will be gone soon enough if the new group isn’t incompetent.

I have some hope that the front office and coaching staff might actually be held accountable for the lack of success over the last four years. I don’t want to waste 4 years while Hextall does nothing, and for the first time, I have some hope we won’t have to.

I don’t want to hear people praising a GM for downgrading talent in the bottom six as his big move again.

I'm pretty sure Mario never had a controlling interest. That was all Ron Burkle.

 

[Gurglesons]

Pretty surreal that after 30 years of bullshit this franchise is basically being held in the same light from an asset point of view as the Red Sox and Liverpool by a trust fund.

Tell me that in 2001, and I’m laughing my ass off.

 

[Trade]

Are we all in agreement to stay fans after we inevitably re-brand as the Nantucket Narwhals?

 

[Gurglesons]

Are we all in agreement to stay fans after we inevitably re-brand as the Nantucket Narwhals?

Southside Sculpins.

 

[spcastlemagic]

I remember reading Mario held an approximately 40% stake - nothing insignificant, even if Burkle held the majority interest. Either way, Mario is a very, very rich man today.

 

[SEALBound]

Having LeBron James be part of the ownership makes me want to vomit. But then again, it's not like Burkle is a saint so whatever. Happy it's going to a large, deep pocket ownership.

Lemieux is still the member of ownership overseeing management. No changes will occur.

So clutch. I take that as "we ain't no herckey experts, so Mar-e-o will have to stay on to help guide us". Which makes a ton of sense given what he means to this team and city.

 

[SEALBound]

I remember reading Mario held an approximately 40% stake - nothing insignificant, even if Burkle held the majority interest. Either way, Mario is a very, very rich man today.

Hope so. I remember he deferred a lot of his salary to keep the team afloat. I always wondered how much of what he had coming to him, he actually received as a player. Pains me to think that he may not have received the money he was due. But I imagine the ownership in the Sid and Geno era probably made up for lost ground on that front. He's likely not hurting money these days but at the same time I hope he can go swim in his pool with cash. If there's anyone who's earned that, it's him.

 

[cookthebooks]

firmly team 'no immediate changes to management but thats only for as long as it takes the new owners to fully evaluate the existing management team'

you dont drop this kind of coin to not have your own ideas you want implemented by your own people. maybe thats just on the redevelopment side of things, maybe its on the hockey ops side but everyone is only safe for now.

 

[Gurglesons]

firmly team 'no immediate changes to management but thats only for as long as it takes the new owners to fully evaluate the existing management team'

you dont drop this kind of coin to not have your own ideas you want implemented by your own people. maybe thats just on the redevelopment side of things, maybe its on the hockey ops side but everyone is only safe for now.

Good. Their additions to the Sox and Liverpool from a management perspective have been extremely successful.

 

[Sidney the Kidney]

The accounting part of me is curious: Would Lemieux's share of the money from the sale be accounted for tax purpose wise like someone selling a stock/share in a company or as part of capital gains like when someone sells a house or property?

 

[Lust for Life]

I too believe that moves will happen as soon as FSG have fully evaluated the setup. I also believe that they will expand and improve on our analytics department, and likely hire a GM in the future (whether that's in six months or six years) that lean towards that, if Liverpool and Red Sox are anything to go by.

Obviously baseball are more of a numbers-sport but having followed Liverpool intensely over the last decade or so, there's definitely a pre-FSG and FSG distinction in how they operate. They failed with their first appointments but appointing Michael Edwards as sporting director (kiiiinda similar to a hockey GM but not really, he sorts out everything with transfers) and then of course Jürgen Klopp as manager has really paid off. Their scouting department are also analytics-leaning.

 

[Empoleon8771]

The new owners firing Hextall would be odd because I imagine Hextall would fit into the mold of what they want out of a new GM. It wouldn't shock me if they fired him (or just didn't renew his contract whenever it was due for extension), but firing him would be a bit of a surprise. I imagine that FSG would realize this team needs to rebuild and wouldn't go for a gun slinger like JR.

 

[Night Shift]

The new owners firing Hextall would be odd because I imagine Hextall would fit into the mold of what they want out of a new GM. It wouldn't shock me if they fired him (or just didn't renew his contract whenever it was due for extension), but firing him would be a bit of a surprise. I imagine that FSG would realize this team needs to rebuild and wouldn't go for a gun slinger like JR.

It's exactly what I thought.

 

[SEALBound]

The new owners firing Hextall would be odd because I imagine Hextall would fit into the mold of what they want out of a new GM. It wouldn't shock me if they fired him (or just didn't renew his contract whenever it was due for extension), but firing him would be a bit of a surprise. I imagine that FSG would realize this team needs to rebuild and wouldn't go for a gun slinger like JR.

I imagine having both Burke and Hextall in place is rather attractive to the new owners. That's a pretty solid pair and with Lemieux in the group still, you have plenty of hockey expertise to guide operations in the present and future. Imagine paying $750mil or whatever and walking into your new franchise with Brian Burke, Mario Lemieux, and Ron Hextall at your conference table. Not too shabby.

 

[Night Shift]

I imagine having both Burke and Hextall in place is rather attractive to the new owners. That's a pretty solid pair and with Lemieux in the group still, you have plenty of hockey expertise to guide operations in the present and future. Imagine paying $750mil or whatever and walking into your new franchise with Brian Burke, Mario Lemieux, and Ron Hextall at your conference table. Not too shabby.

@Pens x