Mario Lemieux`s group`s attempt to regain ownership of the Pittsburgh Penguins hockey club has encountered obstacles, as their initial bid fell significantly short of expectations from Fenway Sports Group (FSG), the team`s current owners. According to NHL insider Elliotte Friedman, if Lemieux and his partners, including Ron Burkle and Dave Morehouse, truly want to reacquire the Penguins, they will need to substantially increase their offer.
It`s worth recalling that in 2021, FSG purchased the team from Lemieux`s consortium for approximately $1 billion. This summer, reports emerged about the former owners` interest in a buyback. According to DK Pittsburgh Sports, Lemieux`s group was prepared to offer around $1 billion. However, Forbes magazine values the Penguins at $1.75 billion, and the recent sale of the Tampa Bay Lightning for $1.8 billion sets a new market benchmark, likely influencing FSG`s expectations.
As FSG is under no immediate pressure to sell, the negotiation process could be protracted. Nevertheless, Penguins fans express considerable enthusiasm for the potential return of the legendary Mario Lemieux to the club`s management.
Mario Lemieux, now 59, is undoubtedly the most significant figure in Penguins history. As captain, he led the team to two consecutive Stanley Cups in the early 90s, and later, as an owner, celebrated three more championship titles (in 2009, 2016, and 2017).
FSG`s ownership period has not been as successful. After consistently making the playoffs from 2007 to 2022, the Penguins have missed postseason play for the past three years. The team`s 80 points last season marked their worst performance in a full 82-game season since the 2005-06 campaign, when Lemieux was concluding his playing career and future Hall of Famer Sidney Crosby was just beginning his.
