[Rumour] Pens sold for ~$1.7 to $1.8 billion USD

[Locke]

Originally Posted by Vinny01

Double the value of the team in less than 5 years is incredible.

Right? I dont have the numbers, but I'd bet the Penguins' active revenue covered their operating costs, they've got a relatively new arena so there arent a lot of costs involved in that.

They bought an asset and cashed out when it's value doubled. That seems like a pretty shrewd investment to me.

[Five-hole]

Originally Posted by Vinny01

Double the value of the team in less than 5 years is incredible.

Not to mention they were all but dead in 2005 prior to drafting Crosby.

All it takes to make USD$1.7B is to rig a draft lottery...

[Cali Panthers Fan]

Originally Posted by Macho0978

That is a lot of pens!

This is a very underrated joke.

[getoverit]

Im sure Mario wishes he still owned 40% , with FSG owning 95%, its believed he owns 2.5% currently. Having said that he still made a ton of $

[Calgary Highlander]

Originally Posted by Geeoff

Damn! That's a lot for a potentially post-Crosby Penguins team

Not to worry, they will draft Landon Dupont and Maddox Schultz the next two years.

Damn this franchise and their luck .

[Weitz]

Originally Posted by getoverit

Im sure Mario wishes he still owned 40% , with FSG owning 95%, its believed he owns 2.5% currently. Having said that he still made a ton of $

He didn’t sell according to an article. Retaining his minority share.

[McG]

Originally Posted by D as in David

The Skinner acquisition put it over the finish line.

Came for Skinner joke; left satisfied.

[GranteedEV]

Only double what they paid? Bet they wish they bought NVDA over PITT, they'd have 13X over the same span

i kid but i feel buying sports teams should be about vanity and sports not profit. unless you're Mark Cuban and got everything you wanted in terms of the championship goal already