It makes sense. I know that Lemieux cares about the Penguins, the city and hockey in general. However; his return was mostly about getting paid. He was going to miss out on a huge chunk of deferred salary had the Penguins gone under. He's just making sure he is getting his money.
People please read the article first.
1/ His salary includes his CEO work.
2/ He didn't choose to get paid this way, the board did.
3/ The land probably won't be used for the new arena.
That's just Dejan trying to show off and get some recognition at the national level.
He sucks.
His player salary is $5.25 million. On top of that he will earn an executive salary of $2.5 million, and will get $2.5 million of the deferred salary owed to him by the franchise (this makes up part of the $4.6 million the franchise owed him when he retired the first time)
His player salary is $5.25 million. On top of that he will earn an executive salary of $2.5 million, and will get $2.5 million of the deferred salary owed to him by the franchise (this makes up part of the $4.6 million the franchise owed him when he retired the first time)
Speaking of reading the article, you clearly didn't.
Dejan = One of the most knowledgable and most informative in the business.
I read it.
But obviously, you have a "clear" view of Kovacevic...
Any chance you're really Dejan?
Because he's full of himself, and it seems now you're two.
This guy is dying for national recognition.
And he doesn't deserve any of it.
I know this is "executive" salary, but since when does the CEO of a failing business deserve a 1000% raise after four years on the job?
I hope that people will read the article before posting, so we can avoid the same old remarks about folding, or moving to Portland, or otherwise being a crappy franchise.
His deal for the coming season, which begins Oct. 10 for the Penguins, still calls for a salary of $5.25 million as a player, according to the contract filed with the NHL Players Association. But the Penguins' ownership committee decided this summer to boost his pay for off-ice duties to $2.25 million and add $2.5 million in deferred compensation. Lemieux, who is the controlling partner but does not own a majority of the company, does not participate in votes on his pay.
I know this is "executive" salary, but since when does the CEO of a failing business deserve a 1000% raise after four years on the job?
I hope that people will read the article before posting, so we can avoid the same old remarks about folding, or moving to Portland, or otherwise being a crappy franchise.
I was reading this on the bus this morning, thinking "how many 'Lemiuex is greedy, blah blah blah, Penguins are moving to Portland, blah blah blah' posts will be pouring in today!
As for his raise, yes it is an extreme jump. However, was his mgmt salary prior to this probably well below average? And, I don't know that the business is failing. It was in terrible shape when he got it. The bottomline has improved since he's been there. Granted, it took drastic salary cuts, etc, that the hockey fan side of me hated to see. But as a business move, it made total sense, and isn't that what that portion of the salary represents?
I know this is "executive" salary, but since when does the CEO of a failing business deserve a 1000% raise after four years on the job?
Uh... cause that's what CEO's do? No unreasonable expectations (like being a success), and a huge golden parachute. It's a good job if you can get it :p
But obviously, you have a "clear" view of Kovacevic...
Any chance you're really Dejan?
Because he's full of himself, and it seems now you're two.
This guy is dying for national recognition.
And he doesn't deserve any of it.
Are you saying the article wasn't worthy of being written? Did he fabricate any information? Have you ever even been to Pittsburgh?
Quote:
Jacob was obviously kidding.
I can't think of anyone that knows the organization like he does.
for being one of the best players in hockey and a drawing all the fans to the game...while making the Pens a little bit competitive...I think Mario is worth every penny he gets!!!
You would think Mario would want to play for free considering he *is* the owner .
How much was he owed when he retired? Something like $30 million, right? He needs to collect as much of that as soon as possible because a work stoppage will erase his last years of earning potential as a player.
Don't think I'm implying he's being greedy. More then anything he's making up for bad business decisions made years back when he chose to defer so much of his salary.
First off...Dejan Kovacevic is one of the best sports writers in the nation, not just hockey I'm talking sports period. He sucked at first but now I'll read anything he writes. Definitely the best in Pittsburgh.
Secondly...I'm confused about the land thing, but am not about the salary. He's getting the same player salary as before, the rest was not his doing.
And as it's been said...isn't most of this just going to be funneled back into the team? Lemieux isn't going to let something he owns just rot.
And to answer monster_bertuzzi...Lemieux would take less than that money had it not been for the NHLPA. The salary has been set by the NHLPA for the past 3 seasons. Lemieux originally was going to pay himself one million a season, as he did his first comeback season(though it was only half the season).
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