Report: Penguins could sell for over $700 million
Normally, NHL teams that are up for sale are of the struggling, non-hockey market variety. But when the Pittsburgh Penguins went up for sale recently, investors had a chance to purchase an already successful hockey juggernaut.
So it's no surprise that the purchase price for the Pens is reportedly pretty high.
According to the Pittsburgh Business Journal, a group of anonymous investors might make a bid on the Penguins in the coming week, and that bid could range between $700 million to $850 million. That number is a steep increase from a team Forbes valued at $565 million last fall.
Then again, adding Phil Kessel to an offense which already boasts league superstars Sidney Crosby and Evgeni Malkin should do wonders for the team's ticket and merchandise sales.
(h/t Pittsburgh Business Journal)
Photo credit: Brian Babineau/NHLI via Getty Images
