Jason Mackey: Why a potential Penguins sale isn't just a pipe dream

PITTSBURGH — Perhaps Mario Lemieux wants to complete the hat trick when it comes to saving the Penguins.

Whatever the reason, Wednesday's news that Lemieux, Ron Burkle and David Morehouse were potentially interested in buying back the franchise from Fenway Sports Group was certainly an attention-grabber — and could lead to a significant conclusion for Penguins fans.

Lemieux, Burkle and Morehouse have never been a fly-by-night operation. They connected with the community, won, grew hockey in the area, won some more, became big-time players with league events, and generally left little reason to question their stewardship.

FSG ... well, it's been a different tale. The sports ownership conglomerate has failed to connect with fans in the same way.

The Penguins have also missed the postseason in three consecutive years and aren't exactly on the cusp of returning.

Knowing Lemieux and how the previous group operated, I wouldn't be shocked at all if this became more than contemplating the idea of repurchasing the Penguins, a storyline that would certainly be unique across all of professional sports.

Lemieux cares deeply about the franchise. Always has and always will.

I can't imagine he's thrilled with how things have transpired since they decided to sell. The issue becomes whether it's even remotely possible to buy the Penguins back.

Maybe I'm crazy, but I think they can.

You saw FSG's so-called denial, right?

"We've seen the speculation, and as we've previously shared with media, Fenway Sports Group is currently engaged in a process to explore a potential minority investment in the Pittsburgh Penguins," FSG said in a statement issued to local outlets on Wednesday. "The focus is on identifying a small, passive partner, and that is the current framework under discussion with potential investors."

We already knew that. All of it.

Is the team for sale?

In January, news broke that FSG was looking to sell a minority share in the team.

This is not that.

This is bigger. And, by virtue of that non-statement statement, unaddressed.

I also find it hard to believe Lemieux, Burkle and Morehouse would want to buy back into the franchise to go along with whatever FSG wants, especially given how the relationship with Lemieux hasn't exactly been warm and cuddly since the sale.

If Lemieux, Burkle and Morehouse did this, it would seemingly be to take over primary control and run the franchise the way they once did, spending to the cap on players, sparing no expense with how they're treated, and ensuring everyone knows who's calling the shots.

So, read that statement again.

Where in there does FSG say that it's not interested or that the Penguins aren't for sale? It's not there. The statement simply reiterates what we already know.

(In FSG's defense, would you stop someone from potentially paying you a lot of money? I wouldn't.)

Given that it's a business, and a financially successful one at that, FSG wants to make money. That idea would require Lemieux and Burkle to take a financial bath on the $900 million previous purchase price of the Penguins. But does anyone think that's going to scare Burkle?

Or that additional investors couldn't be found?

Burkle has a net worth of $3.3 billion. He's invested in various media endeavors and supermarkets and has obviously lost money before. He's also made enough to take a few punches.

Which leaves us with several simple questions:

— Are these guys serious enough to make a run at the Penguins?

— Would FSG sell?

— Would the NHL be OK with a sale?

I've thought long and hard about this, and I'm answering "yes" to all three.

Why this could happen

Lemieux, Burkle and Morehouse care a ton about the Penguins and the Pittsburgh community. Always have and always will. The fact that they're thinking about doing something — for whatever reason — speaks volumes.

My guess: They're not happy with what has happened and believe they can fix it.

FSG also had the opportunity to shoot down the idea of selling and remind everyone that the Penguins are theirs and not for sale. They didn't do that.

They've also left doubt with their actions — though I don't hate much of what president of hockey operations Kyle Dubas has done with regard to skewing younger — when it comes to whether they view the Penguins as something more than another file in their portfolio.

I definitely can't see what sort of issue NHL commissioner Gary Bettman would have here.

Bettman has always liked that triumvirate, something I saw firsthand during my time around the team.

Ownership groups like FSG — filled with questions about who's overseeing things and making day-to-day decisions — will always lose in the court of public opinion to beloved former players, wealthy investors who bankroll a ton of stuff because they simply want to win, and and sports executives who've pushed for league, sport safety and infrastructure improvements the way Morehouse did with the Penguins.

Throughout their history, the Penguins have tried so many offensive plays that have failed to connect. But the more I think about the possibilities here, the more I like the potential conversion rate and what would become of Lemieux returning to save the Penguins once more.

It would be an incredible story and one with a logical path forward.

After all, Lemieux has overcome Hodgkin's lymphoma and severe back issues. He turned Pittsburgh into a hockey market, won the Stanley Cup twice as a player, helped grow the game at the youth level, then saved the Penguins multiple times from an ownership perspective.

Are we really about to tell him and his current teammates that they can't accomplish this?