Owner Athletes Taking Pot Shots

I had to laugh in giddy disgust at Mario Lemieux’s comments over the collapse of a deal to buy his team over the weekend.

Basically the NHL introduced increasingly strong conditions that would, hopefully, ensure that the Penguins could not leave Pittsburgh. Balsillie a business man and a guy with a lot of money, said fuck you to the new conditions and walked. A bargaining tactic for sure, but it was his prerogative. He wants his US$170 million franchise in Hamilton not Pittsburgh, his choice. All of his reasons for moving an unsuccessful franchise were fine for the NHL when it looked at Quebec in Colorado, Winnipeg in Pheonix and Hartford in Carolina, why not Pittsburgh in Hamilton (or elsewhere)? Stupid question.

Why save Pittsburgh? Old building, no fan support, no support from local government. This is the story of the Pittsburgh Penguins, a team that has, four times in my memory, been in REAL financial trouble. A team that was a negotiation away from moving to Ottawa the year before Lemieux was drafted. A team that Lemieux has seemingly stopped the relocation of 4 times, twice as owner.

So I ask again, Why save Pittsburgh? Enter the Mario Lemieux factor. He doesn’t want to be seen in the town of his career as the guy who gave the team away for money. But make no mistake Money is his only motivation.

FACT:

Lemieux retired from hockey due to lower back problems.

Lemieux was owed the majority of his final contract with the Penguins when he retired. To keep the team competitive his contracts included defered money "we'll deal with it later".

Lemieux, owed between US$25 and US$35 million in deferred salary, was one of the largest creditors of the Pittsburgh Penguins when the team filled for bankrupcy.

Penguins sold and traded every piece of talent they had. Nobody in Pittsburgh would watch a team without Jagr or Lemieux so the team was folding. (This is the history of the Penguins, nobody supports this team without a SUPERSTAR, no talent alone, they need a SUPERSTAR)

Ownership approaches the NHL about the team, no buyers, mounting debt potential the franchise will be dissolved.

Ask yourself a question: Who loses money if a team with NO assets is dissolved?

FACT:

Lemieux steps in with an ownership group with a plan to purchase the team. The Penguins are purchased basically with money owed for no service. Lemieux’s US$35 million in outstanding salary is what secured/purchased the team. The purchase price was listed as US$95 million, but I guarantee that figure was given so the NHL could save face as a legitimate league.

As soon as he buys the team Lemieux realizes the seriousness of his situation. Lemieux unretires and plays hockey again to sell tickets in his investment. This was obviously a condition placed on him by his “Supporters” the money guys and the banks that basically owned the team.

The league requires Lemieux to draw a "reasonable for his talents level" salary when he plays so Lemieux is happy and the banks are happy.

….BUT WAIT, SOMETHING STINKS

Had Lemieux been physically able to play, shouldn’t he have been legally obligated to play for his team/salary under the old ownership? If he was to keep collecting his old pay cheque and use that money for something, surely there was a requirement that he be physically UNABLE to play hockey.

YES HE WAS, according to a little mentioned lawsuit against the NHL and Pittsburgh and Lemieux by the former owner which almost squashes the new Lemieux Penguins.

Why the lawsuit? Because the financial problems of the team stem largely from Lemieux’s contract. When your biggest creditor is a former player it isn’t a stretch to blame the team’s financial straights on that player. The lawsuit was swept under the rug much like Lemieux being implicated in a rape in the late 80’s (RUMOUR, but thank you for saving his ass Dan Quinn). Payoff in otherwords, league gets lots of free press off a player owner, return of a favorite son, etc. etc. and Lemieux saves the Penguins.

So how did Lemieux save the Penguins?

He forced them into bankruptcy.
Essentially, purchased the team with stolen money.
Drew a healthy, league mandated, salary while playing, even though he bought the team with his old never realized salary. He purchased the team with a debt owed slip. Crazy!
Dumps the team as soon as his attempts at getting a new state funded rink fall through
Only becomes vocal when his winning lottery ticket falls through.

If there was money to be made on this team why would he sell them?
Because there is more money to be made in the sale.

Which leads me to…

Lemieux is now set to make a fortune on his “investment”

If the Penguins get US$170 million for a team that basically cost US$35 million, Lemieux will at the very least double his "pretend" money in a team he did nothing for. On top of the fact that he made a minimum of US$10 million when he came back for parts of 5 seasons.

They talked about winning the lottery when they Drafted Sidney Crosby. Well truer words have never been spoken. Without Crosby, this is a $10 franchise. The new owner, who ever he is, will be paying for 25 jerseys (home and away), a skate sharpener, and a bloated payroll (Gonchar $5 million five years). Nothing else.

CONTEXT:

Think about this.

Roughly 2 years ago the Ottawa Senators were sold for $97 million. Successful team, building etc.

Half a year later the Buffalo Sabers were sold for $88 million. BRAND NEW BUILDING, and look at the team now.

In both cases, the new owners paid less than US$100 million, and got a NEW BUILDING. What makes the Penguins more valuable (twice as expensive as the Sabres)? How does Lemieux get away with this?

Better still, how dare he question the methods by which someone tries to ACTUALLY buy a hockey team? He is still getting paid so maybe he should shut up. It’s easy to buy a team with someone else’s money, but maybe, just maybe, when Gary Bettman isn’t reading the fine print to you and guaranteeing your $0 investment you may be a little more concerned with the fine details of buying a team that has nothing but an 18 year potential star as an asset.

Lemieux should shut up and get the coffee and snacks while the men do business.