Put your wallet back in your pocket, big spender. The Stanley Cup champions are no longer for sale.
As recently as January, Pittsburgh Penguins co-owners Ron Burkle and Mario Lemieux were openly exploring the possibility of selling the team, which embarks on its 50th anniversary season Thursday night.
Penguins CEO David Morehouse told KDKA Morning News that the club has been taken off the market.
“We did look at a bunch of different things. One of them included the outright sale of the franchise. We’re not looking at that right now,” Morehouse said on-air. “We’re real happy to have Ron Burkle and Mario as owners. I couldn’t ask for a better ownership team to run a team and win a championship.”
Lemieux’s group paid $107 million for the Penguins in 1999. The potential sale of the franchise had been reportedly priced around $700 million, while Forbes’ most recent estimate placed the club’s worth at $560 million. That was before Pittsburgh won its fourth Cup this spring.
