Quote:
Originally Posted by The Cobra
Correct. When the team was sold, he got $350,000,000 from the sale proceeds. Before taxes of course.
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It ended up being a great deal for him in the long run that he leveraged $20 million into that much equity, especially considering how much the franchise increased in value. IIRC, they owed him around $35 million, and he received controlling ownership plus $15 million in cash at the time.
To his credit, he also made sure every other player that was owed money received what they were owed.
People make it sound like Lemieux was a white night swooping in to save the team, but really it was the only thing he could do to avoid possibly never getting paid.