Lemieux give his raise back
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12-03-2003, 05:09 AM
Join Date: Apr 2003
Originally Posted by
Mario was owed almost 30 Mill in payments on his contracts from his playing days when he bought the team. If another owner had taken the team over and gone into full blown bankruptcy he would not have received most of that money. Now three years and about 15 Mill in Salary payments later he has already made back about half the ammount owed to him.
He turned the original debt into stcok in the team for the take over. So If they are able to sell it at a later date he will most likely make all of his lost money back at this point. (assumeing he gets the 15 mill already received from playing and gets about half of what he paid for his share of the team if there is a sale)
Where many see him as a savior of the Pens, I still see him as a guy out to save himself untill thier is a ground breaking for a new arena in downtown Pittsburgh. Untill that point there is little guarentee that the Pens will remain there long term.
If Mario is all about the money and doesnt care for the Penguins then why didnt he just walk away from the team when it almost folded in the late 90's? You just know that he could have easily made that $30mill back by signing with the Rangers for a couple of seasons.
The guy is making half his market value for a player, makes zero money from being the owner of the team and people still think he is all about the dollars....... What a Joke.
If Mario can get the Penguins a new arena in Pittsburgh (and he is the ONLY person who can) then he will have secured the franchises future in Pittsburgh and that was his goal. If at that point he decides to sell the Franchise to another owner then nobody in Pittsburgh will have any problem with it. And no matter what he would make from the sale it would only be a fraction of what he deserves compared to what has given to that town.
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