August 24, 2016 7:51 AM ET

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Company Overview of Lemieux Group L.P.

Company Overview

Lemieux Group L.P., doing business as The Pittsburgh Penguins, owns and operates a professional hockey team that plays in the National Hockey League. Lemieux Group L.P. was founded in 1967 and is based in Pittsburgh, Pennsylvania.

CONSOL Energy Center

1001 Fifth Avenue

Pittsburgh, PA 15219

United States

Founded in 1967

Phone:

412-642-1800

Fax:

412-255-1980

Key Executives for Lemieux Group L.P.

Chief Executive Officer and President
Age: 55
Chairman of the Board
Co-owner
Age: 64
Chief Operating Officer
Director of Player Personnel
Compensation as of Fiscal Year 2016.

Lemieux Group L.P. Key Developments

No Word Yet On Lemieux Sale

There is no urgency or immediacy with regards to a potential sale of Lemieux Group L.P., National Hockey League Commissioner Gary Bettman told the media on May 30, 2016. Reports leaked out June 3, 2016, that the Pittsburgh Penguins' majority owners Ron Burkle and Mario Lemieux retained Morgan Stanley to consider a sale of part or all of the team, with at least initial bids coming in last July for a sale that the Pittsburgh Business Times reported could be from $700 million to $850 million. But there's been radio silence since January, when the Penguins officially denied a New York Post report that a potential sale was called off because of a dispute between the two owners. Bettman said the team has looked at offers but nothing has been finalized, according to the Pittsburgh Tribune-Review account of the news conference.

Penguins Still Exploring Sale

Ron Burkle and Mario Lemieux stated that exploration of a potential Penguins (Lemieux Group L.P.) sale continues. In a statement they stated: “There is no disagreement between us, and we remain completely aligned in both approach and philosophy. We continue to explore all of our strategic options, including a possible sale. There is not, and has never been, an established price for the team, and we are still in conversations with potential buyers.” According to a New York Post report, disagreement emerged between Ron Burkle and Mario Lemieux over a potential sale price, and complications led the men to call off the sale.

Sale of Lemieux Group Called Off

After six months of trying to sell the team, Mario Lemieux and Ron Burkle both significant minority owners of Lemieux Group L.P., recently called off the sale. There were reports Lemieux, who owns roughly 40% of the team, and Burkle, with a 25%stake, initially were looking to get more than $700 million for the Penguins and a development site, a source said.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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