2007-01-23 14:26:38 · 4 answers · asked by sean c 1 in Sports ➔ Hockey
He didn't "buy" them. The penguins filed for chapter 11 bankruptcy in 1998. Lemeuix was a top creditor from deferred salary. The court gave the team to him in 1999.
2007-01-23 22:15:40 · answer #1 · answered by JuanB 7 · 0⤊ 2⤋
Although it is true they went Bankrupt in the 1998-1999 season he did BUY them. Just because they were bankrupt doesn't mean he gets the team when he is owed less then the team was worth. All it means is he would be given his money through the sale of the team, hence him "forgiving" the debt. There were others trying to buy the team. I believe then Co-Owner Roger Marino(hope I remember the name right) was trying to team with Prime Sports Network(now known as Fox Sports Pittsburgh) to buy the team. Not sure but I think there may have even been another group considering.
2007-01-24 00:45:02 · answer #2 · answered by Anonymous · 0⤊ 0⤋
1999
2007-01-23 14:29:54 · answer #3 · answered by JP 3 · 0⤊ 0⤋
April 30th 1999. He partnered with several others and forgave $10 million of the $50 million owed to him as collateral for his share of the team which is 16.66%.
http://sportsillustrated.cnn.com/hockey/nhl/news/1999/04/30/lemieux_partners/
2007-01-23 22:17:59 · answer #4 · answered by rhstocks188 3 · 1⤊ 0⤋