Pens up for sale again

[abpk2903]

This is a hilarious thread. Crimson, you are exactly right. The Penguins are not leaving Pittsburgh and will not be leaving Pittsburgh for the next several decades. Someone in Seattle or Vegas could have $4 billion to throw at this team but the league's owners would never approve that relocation.

Atlanta will never have a team again. The Thrashers were a joke. Wheeling will never have a team again, they are just too far down the pecking order.

The NHL does want to get a franchise to some new cities but they want to do it via expansion rather than relocation. The NHL owners already approved a "New Franchising Fee" of $500 million. So that is how they plan on trying to get franchises in Seattle, Las Vegas, or Hamilton.

It is a genius time to sell the franchise right now. With the cost of an new expansion team set at $500 million, the Penguins are that much more valuable.

Did anyone else fall out of their chair laughing at Konjo telling Crimson he doesn't know anything about hockey. At least Crimson hasn't made the comparison that Max Talbot and Jordan Staal are better players than Crosby.

[Manfred]

I take anything I hear from the left coast with a few grains of salt. The OP was an attention getter.

[theoneandonly]

When I first read this last night I actually texted my buddy and said... "lets see how long this takes before it's blown out of proportion"... With Konjo in mind.

There is a 0% chance the Pens are leaving Pittsburgh anytime soon. Bill Gates and Warren Buffet could team up to buy the team for $100 billion dollars and it's still not going anywhere just like that. It's not like you walking into a store and buying a TV... you own that TV and can take it wherever the hell you want. In pro sports you may own the team but you don't have full discretion over what happens with that team.

This is a really smart finanical move on Burkle/Marios part. The team is worth a ton of money right now... sell off some minority shares and maintain control all while generating some additional cash flow.

We could take konjo at his word on this or we could read some facts... konjo hates facts.

"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," they said.

“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.


Total non story here.

[knowitall]

In the running for teams are Quebec, a couple cities in Oklahoma, Las Vegas, Atlanta, Wheeling, another team in Texas, and the one I've heard the most: Hamilton.

Wheeling?

How about Buffalo or Toronto?

Wheeling!

[Jrs237]

When I first read this last night I actually texted my buddy and said... "lets see how long this takes before it's blown out of proportion"... With Konjo in mind.

There is a 0% chance the Pens are leaving Pittsburgh anytime soon. Bill Gates and Warren Buffet could team up to buy the team for $100 billion dollars and it's still not going anywhere just like that. It's not like you walking into a store and buying a TV... you own that TV and can take it wherever the hell you want. In pro sports you may own the team but you don't have full discretion over what happens with that team.

This is a really smart finanical move on Burkle/Marios part. The team is worth a ton of money right now... sell off some minority shares and maintain control all while generating some additional cash flow.

We could take konjo at his word on this or we could read some facts... konjo hates facts.

"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," they said.

“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.


Total non story here.

Pretty much sums up everything I've read and heard so far.

I think konjo thinks if owners sell teams that the teams move to city that the owner lives in lol. I was going to let it go but it was bothering me to much.

Basically the penguins are an investment for Mario and Burkle. Everybody is so clouded by the fact that Mario is such a Pittsburgh legend that they forgot the fact that the day he put his stock in it became a business relationship.

[Jrs237]

In the running for teams are Quebec, a couple cities in Oklahoma, Las Vegas, Atlanta, Wheeling, another team in Texas, and the one I've heard the most: Hamilton.

Wheeling?

How about Buffalo or Toronto?

Wheeling!

Because both Buffalo and Toronto have hockey teams.

[knowitall]

No they don't.

Wheeling?

[Jrs237]

Phoenix and Florida aren't going anywhere. In fact the expansion is more likely to happen.

In the running for teams are Quebec, a couple cities in Oklahoma, Las Vegas, Atlanta, Wheeling, another team in Texas, and the one I've heard the most: Hamilton.

Florida and their extremely low attendance are likely to relocate over the next few years. They have been attempting to modify their lease agreement with Broward County for a year now. The franchise is bleeding money.

Atlanta? Nope, the NHL has tried that twice now. Wheeling? You have to be joking. That's like saying Johnstown is in the mix.

I'm just saying what I heard dude. Florida won't be moving anywhere, at least according to bettman, although he has falsified/omitted key things before I just don't see it happening SOON SOON.

I heard Wheeling, I thought the same thing, but I have family and friends down there and they have told me that the entire area is in demand of an upgrade to the NHL (I understand it's not that simple, I'm just saying what I've been hearing).

[Jrs237]

No they don't.

Wheeling?

Please read, I said Buffalo and Toronto.

[knowitall]

Wheeling has a better chance of being the next Hockeyville than it does getting an NHL team.