Report: Penguins' owners looking for $750M for sale of team
Owners Ron Burkle and Mario Lemieux are reportedly looking for a good chunk of change for the Pittsburgh Penguins, as sources told TSN's Rick Westhead that they're asking for $750 million for the team.
Montreal economist Drew Dorweiler, who has been hired by the Toronto Maple Leafs, Vancouver Canucks, and Manchester United to value their franchises, told Westhead that a sale at that price would be a record for a U.S.-based NHL team.
"It does seem a bit steep with the economy and for that market," Dorweiler said. “Pittsburgh is certainly not one of the largest cities in the U.S."
In 2014, Forbes valued the Penguins at $565 million, 10th among all NHL clubs.