Pittsburgh Penguins, Mario Lemieux. (Photo by Bruce Bennett/Getty Images)
A look back at how Mario Lemieux took ownership of the Pittsburgh Penguins.
On Jun. 24, 1999, Fifteen years after being drafted by the Pittsburgh Penguins, Mario Lemieux became the team’s owner and the first player turned owner in a major professional sport.
The Pittsburgh Penguins were operating under federal bankruptcy protection and were the first major US sports team in 25 years to do so, coincidentally that last team was also the Penguins in 1974.
Lemieux’s bid to rescue the Penguins was essentially the last play in the book to save the team after the NHL threatened to move or fold the club if a deal was not reached in the court.