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Old 01-23-2004, 07:09 PM   #7
Loser
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Join Date: Aug 2003
Posts: 88
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Oh my......

First, Mark Cuban offered to be part owner of the team, when Lemieux put together a group to buy the Penguins. Unfortunately, Cuban wanted to have the bulk of the ownership and wanted to make most of the decisions. Lemieux didn't want this at all, so he told Cuban to **** off.

Second, with a salary cap and shared revenue likely being installed by the NHL in the next couple of years, a wealthy owner will not be as useful as it use to be.

Third, the Pittsburgh Penguins are one of the better run financial teams in the NHL. Sure their payroll is very low at 20 million, but they're only losing 3 million. (which Lemieux can afford.) Meanwhile teams like the Caps and Kings are losing substantial amounts of money this year. Hence the reason you see a number of teams fire-selling their players.

If the salary cap and shared revenue system does get installed into the NHL I could see the NHL having the big market teams buying out the contracts of the players, so that they will be under the cap.

The Pittsburgh Penguins have been through a whole hell of alot of hard times, from going bankrupt, to now almost losing the team. But I do believe that like the other times, the Penguins will get through this. If not, then I don't see the team being moved. I see the team being contracted to help cut down on the number of teams.
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