Exclusive: The latest on Mario's bid to buy back Penguins
Updating my previous reporting on Mario Lemieux's attempt to buy back the Penguins, based on fresh information from two sources:
• Let's get this out of the way: Yes, he's serious. Yes, Ron Burkle's part of it. Yes, others are part of it. It took me a while to reach this stage of solid confirmation, but that's there.
• As I reported in a recent Friday Insider, Mario's side has met with Fenway Sports Group, but new to me now: There's an intent to meet again soon.
• Also new and most important: Mario's side, with Burkle's significant backing, is prepared to pay more than the $900 million they received from the Fenway Sports Group in the original sale in 2021, believed to be in the range of $1 billion. But FSG is countering with a price that's believed to be $400 million higher. So there's nothing close, obviously.
• I don't know Mario's motivation for wanting to reclaim the franchise, and I don't know FSG's motivation for wanting to sell part of it, as they've publicly acknowledged, or even all of it, as they've expressed an openness to doing. But I do know that the Mario side's serious about this.
• Capitalization, I'm assured, won't be an issue. Casual web searches indicate Burkle’s net worth to be in the range of $3 billion, but I'm told it's more than double that in reality.
• The NHL, notably Gary Bettman and his lieutenant Bill Daly, are monitoring.
All I've got for now. Stay with me on this.
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THE ASYLUM
Exclusive: The latest on Mario's bid to buy back Penguins
Updating my previous reporting on Mario Lemieux's attempt to buy back the Penguins, based on fresh information from two sources:
• Let's get this out of the way: Yes, he's serious. Yes, Ron Burkle's part of it. Yes, others are part of it. It took me a while to reach this stage of solid confirmation, but that's there.
• As I reported in a recent Friday Insider, Mario's side has met with Fenway Sports Group, but new to me now: There's an intent to meet again soon.
• Also new and most important: Mario's side, with Burkle's significant backing, is prepared to pay more than the $900 million they received from the Fenway Sports Group in the original sale in 2021, believed to be in the range of $1 billion. But FSG is countering with a price that's believed to be $400 million higher. So there's nothing close, obviously.
• I don't know Mario's motivation for wanting to reclaim the franchise, and I don't know FSG's motivation for wanting to sell part of it, as they've publicly acknowledged, or even all of it, as they've expressed an openness to doing. But I do know that the Mario side's serious about this.
• Capitalization, I'm assured, won't be an issue. Casual web searches indicate Burkle’s net worth to be in the range of $3 billion, but I'm told it's more than double that in reality.
• The NHL, notably Gary Bettman and his lieutenant Bill Daly, are monitoring.
All I've got for now. Stay with me on this.
Want to participate in our comments?
Want an ad-free experience?
Become a member, and enjoy premium benefits! Make your voice heard on the Steelers, Penguins and Pirates, and hear right back from tens of thousands of fellow Pittsburgh sports fans worldwide! Plus, access all our premium content, including Dejan Kovacevic columns, Friday Insider, daily Live Qs with the staff, more! And yeah, that's right, no ads at all!
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