Mario Lemieux's bid to buy back the Penguins is not close to estimated team value, report says
Earlier this summer, it was reported that Lemieux, along with Ron Burkle and David Morehouse, were interested in buying the team back from the Fenway Sports Group, who purchased the team in 2021.
Lemieux and Burkle sold the Penguins to FSG for just shy of $1 billion and last month, it was reported that the Lemieux group was considering its financial options that could lead to taking control of the Penguins again at some point.
A new report from Sportsnet insider Elliotte Friedman suggests that the Lemieux group's bid for the team isn't close to FSG's apparent asking price.
The only thing I've heard about that so far is that they're just well below what Fenway would want to be the number," Friedman said on his 32 Thoughts podcast.
DK Pittsburgh Sports reported last month that the Lemieux group was prepared to buy somewhere in the range of $1 billion for the team.
The Penguins were valued at $1.75 billion in the latest Forbes rankings in the fall of 2024, which came in the midst of franchise values skyrocketing across the National Hockey League.
Friedman also referenced the recent $1.8 billion sale of the Tampa Bay Lightning, suggesting that price point could be "where the Penguins would want to be."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
13 minutes ago
- Yahoo
Archie Manning says Arch 'isn't going to' leave Texas for 2026 NFL Draft
Don't be shocked if Arch Manning spends more than one season as the starter at Texas. The redshirt sophomore enters the 2025 season as the Heisman favorite and a ton of expectations as he takes over the starting quarterback job from Quinn Ewers. If Manning has an excellent season, he's seen as the possible No. 1 pick in the 2026 NFL Draft. If he leaves school. In an interview with Texas Monthly for a feature on his grandson, Archie Manning said that he expected Arch to be at Texas in 2026. From Texas Monthly: "As the season approaches, many of the same people who have already awarded Arch the Heisman and the national championship are predicting that he will also be the number one NFL draft choice in 2026. Stories abound about how NFL teams could position themselves to get him, though there is no reason to believe he would leave Texas next year, with or without a championship ring. His grandfather says he hasn't discussed it with Arch, but he knows his grandson: 'Arch isn't going to do that. He'll be at Texas.' The Mannings are buying exactly none of this hype. It feels, to them, like a setup. 'People are saying he's a Heisman candidate,' said Archie, the scorn building in his voice. 'You're not a Heisman Trophy candidate when you haven't played but three games. It's crazy.' Since the 2025 season is Manning's third in Austin, he's eligible for the draft next season. And even though he's only played part-time — and only started when Ewers missed time due to an oblique injury in 2024 — the rumor mill has already run wild regarding the Cleveland Browns' alleged interest in drafting him next season. But there are myriad reasons why it makes sense for Manning to stay in school for another year. His uncles Peyton and Eli didn't leave school after their third seasons for the NFL. Peyton sent four seasons at Tennessee and was second in the Heisman voting to Charles Woodson in 1997. Eli spent four seasons at Ole Miss and was third in the Heisman voting in 2003. Both were No. 1 overall picks in the NFL Draft. Peyton and Eli also stayed in school during a time where college athletes were officially prohibited from making money off their name and image rights. Arch is already cashing in at Texas with numerous endorsement deals and can continue to make even more money in a fourth season with the Longhorns. Plus, another year of development under a coach like Steve Sarkisian can also be a significant benefit for Manning's NFL future. Sarkisian is known as one of the most innovative offensive minds in college football and has experience as an NFL offensive coordinator. While it wouldn't be a total shock if Manning left Texas after the season — especially if the Longhorns win the title and he wins the Heisman — it doesn't seem wise to pencil him in at the top of next year's draft.
Yahoo
13 minutes ago
- Yahoo
Ideal Integrations and 1Path Launch Unified Brand: RedHelm
RedHelm officially launches as the unified brand of Ideal Integrations and 1Path, providing security-first technology management through a single provider. PITTSBURGH, Aug. 7, 2025 /PRNewswire/ -- RedHelm officially launches today as a unified brand bringing together managed technology firms Ideal Integrations (including its cybersecurity division Blue Bastion) and 1Path. The companies, which came together in 2024 after Ideal Integrations acquired 1Path, will now operate under a single name. RedHelm offers a full range of managed technology and cybersecurity services for businesses, with an emphasis on coordinated, security-focused technology operations. CEO Michael Stratos shared that the new brand represents a coordinated, holistic approach to technology management with fully integrated security offerings. "Security is in our DNA. We live and breathe cybersecurity daily, applying our deep expertise to manage your entire infrastructure with comprehensive protection at every layer. This new brand unites the best of our legacy companies into one powerful team. We deliver deeper security talent, broader capabilities, better support, and unmatched responsiveness to every client we serve," Stratos said. The RedHelm name and logo reflect the brand's mission to deliver proactive, fast, and secure IT solutions. The logo's crest symbol represents forward momentum and unified direction as well as the brand's commitment to business growth without disruption. RedHelm's operating model simplifies vendor coordination, reduces risk, and aligns technology services with broader business objectives. The company provides managed services that scale to support internal teams or operate as a fully outsourced partner. The new structure delivers integrated IT and cybersecurity while maintaining flexibility to work alongside existing vendors and systems. Services include: Managed technology and infrastructure services Offensive, defensive, and blended cybersecurity services Strategic IT, data/AI, and cybersecurity advisory Private, public, and hybrid cloud solutions Vice President of Security Corey Bussard added: "Security and IT management shouldn't be separate. We integrate security into every aspect of IT operations because that's how modern infrastructure must function. Risk management drives our approach to every client engagement, ensuring protection becomes part of the foundation, not something we add afterward." RedHelm's headquarters are in Pittsburgh, PA, with additional offices in Atlanta, GA, Boston Metropolitan area and Columbus, OH. The organization provides both remote support and in-field service across the United States. RedHelm continues to serve existing Ideal Integrations, Blue Bastion, and 1Path clients under the new name. Service teams remain in place, and operations continue uninterrupted. To learn more, visit Media Contact: Tonya Tedrick - ttedrick@ RedHelm provides security-first technology management. Formed through Ideal Integrations acquisition of 1Path, RedHelm combines services across infrastructure, cybersecurity, and strategic advisory under one coordinated model. With 24/7/365 support, experienced teams, and a focus on long-term client partnership, RedHelm simplifies IT operations and strengthens resilience to cyberthreats. RedHelm is backed by Frontenac, a Chicago-based private equity firm that works in partnership with established businesses to build market-leading companies. Learn more at View original content to download multimedia: SOURCE RedHelm Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13 minutes ago
- Yahoo
Danone strikes Lifeway NDA to weigh-up takeover move
Danone has signed an NDA with Lifeway Foods to allow the French giant to weigh up whether to make another bid for the US kefir business. Last year, Lifeway turned down two takeover offers from Danone, one of the company's largest shareholders. Relations between the two companies since then have been less than smooth, with Danone launching a lawsuit claiming Lifeway breached a shareholder agreement. Lifeway has said Danone's offers amount to a 'hostile takeover'. Amid the tension between Danone and Lifeway, a long-running family feud has festered at the US firm between chair and CEO Julie Smolyansky, and her mother and brother, Ludmila and Edward Smolyansky, the company's largest shareholders. In an SEC filing on 1 August, it emerged 'representatives' of Danone and Lifeway started talks to 'reset' the relationship and hold discussions over a 'potential acquisition'. The NDA was signed on 1 August 'in order to facilitate Danone's further review of a potential acquisition transaction', the SEC filing read. The terms of the NDA 'restrict the ability of Danone' to publicly make further acquisition proposals, attempt to remove anyone from Lifeway's board or participate in any consent solicitation not recommended by the US company. That includes the pending consent solicitation of Edward Smolyansky to replace the entire Lifeway board. Last month, Edward and Ludmila, who own around 23.2% of Lifeway's shares, said they had filed a 'definitive consent statement' to the SEC to overhaul Lifeway's board, including replacing CEO Julie, with new nominees 'focused on restoring accountability, transparency and long-term shareholder value'. Lifeway called the move 'legally deficient'. The NDA terms expire on a 'standstill expiration date' of 15 September – although it can be extended by a week if the companies are in 'good faith discussions'. The filing added: 'If a definitive acquisition agreement has not been executed by the standstill expiration date, Danone presently intends to consent with respect to all of the shares of common stock it owns in favour of Edward Smolyansky's proposals set forth in his pending consent solicitation statement to replace the entire Lifeway board of directors.' Danone holds around 22.7% of Lifeway. "Danone strikes Lifeway NDA to weigh-up takeover move" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
