Updating my previous reporting on Mario Lemieux’s attempt to buy back the Penguins, based on fresh information from two sources:
• Let’s get this out of the way: Yes, he’s serious. Yes, Ron Burkle’s part of it. Yes, others are part of it. It took me a while to reach this stage of solid confirmation, but that’s there.
• As I reported in a recent Friday Insider, Mario’s side has met with Fenway Sports Group, but new to me now: There’s an intent to meet again soon.
• Also new and most important: Mario’s side, with Burkle’s significant backing, is prepared to pay more than the $900 million they received from the Fenway Sports Group in the original sale in 2021, believed to be in the range of $1 billion. But FSG is countering with a price that’s believed to be $400 million higher. So there’s nothing close, obviously.
• I don’t know Mario’s motivation for wanting to reclaim the franchise, and I don’t know FSG’s motivation for wanting to sell part of it, as they’ve publicly acknowledged, or even all of it, as they’ve expressed an openness to doing. But I do know that the Mario side’s serious about this.
• Capitalization, I’m assured, won’t be an issue. Casual web searches indicate Burkle’s net worth to be in the range of $3 billion, but I’m told it’s more than double that in reality.
• The NHL, notably Gary Bettman and his lieutenant Bill Daly, are monitoring.
All I’ve got for now. Stay with me on this.