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Penguins Owners Burkle, Lemieux Reportedly Exploring Possibility Of Selling Franchise
Penguins co-Owners Ron Burkle and Mario Lemieux "have hired Morgan Stanley to explore the possibility of selling some or all" of the team, according to Bob McKenzie of TSN.ca. It "doesn't mean Burkle and Lemieux are necessarily getting out but they are looking at various options." It is "believed Lemieux, perhaps more than Burkle, may have an interest in getting his equity share out of the franchise." But even if Lemieux and/or Burkle "decide to sell, they have some interest in retaining some involvement or connection with the team." Morgan Stanley is the "same company that facilitated the sale" of the Sabres to Terry Pegula ( <a href="http://www.tsn.ca/lemieux-burkle-exploring-possible-sale-of-penguins-1.299085" target="_blank">TSN.ca, 6/3</a> ). In Pittsburgh, Kovacevic & Yohe reported Burkle "has no intention to sell at the moment," and the Penguins, in "no shape or form, are dealing with any financial problems." This is a franchise that is "fiscally healthy." Lemieux simply is "looking to capitalize here while his team is most valuable" ( <a href="http://dkonpittsburghsports.com/2015/06/03/newsviews-lemieux-burkle-exploring-sale/" target="_blank">DKONPITTSBURGHSPORTS.com, 6/3</a> ). Also in Pittsburgh, Dave Molinari in a front-page piece cites a source as saying that there is "no likelihood the team will be moved." The Penguins have a "long-term lease at Consol Energy Center." A statement from the team said that neither Lemieux nor Burkle "will speak publicly until the process is complete" ( <a href="http://www.post-gazette.com/sports/penguins/2015/06/03/Source-Penguins-owners-explore-sale-of-team/stories/201506030263" target="_blank">PITTSBURGH POST-GAZETTE, 6/4</a> ).