Mario Lemieux Just Made $350 Million Due To A Penguins Pay Issue In 1998

Pompliano continues the thread by acknowledging Lemieux’s decision to offer to purchase the team with an investor group, financing the deal by converting the $20 million of his deferred salary into equity and controlling 25% ownership of the team, rather than file a lawsuit. Since then, the Penguins have been one of NHL’s premiere franchise, having won three Stanley Cups, increasing annual revenue from $55 million to $185 million, successfully building a new arena and signing lucrative cable deals.