PITTSBURGH (AP) – Pittsburgh Penguins co-owners Mario Lemieux and Ron Burkle have hired investment bank Morgan Stanley to explore their options.
The owners said in a statement Wednesday night they are in the middle of a feeling out process that could include anything from an outright sale to selling a share of the team or standing pat. The hiring of Morgan Stanley was first reported by TSN.
Lemieux, a Hall of Famer who led the franchise to consecutive Stanley Cups as a player in 1991 and 1992, and Burkle led an investment group that purchased the team out of federal bankruptcy court in 1999.
The Penguins nearly left Pittsburgh in the 2000s before undergoing a renaissance that included the drafting of eventual MVPs Sidney Crosby and Evgeni Malkin, another Stanley Cup in 2009 and the opening of Consol Energy Center in 2010.
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