Of all the deferred payments granted in NHL history, none have been more profitable than the one offered by the Pittsburgh Penguins to Mario Lemieux in 1999.
That year, facing significant financial problems, the Penguins had to declare bankruptcy. Retired since 1997, Lemieux was still awaiting $32.5 million in deferred payments the Penguins owed him.
Rather than pursue them, the 66 instead made them an offer that ultimately proved to be a true stroke of genius.
With his partner Ron Burkle, Lemieux decided to buy the Penguins and asked them to transform $20 million of the salary owed into shares in the team, and to pay him only $5 million in salary, dropping the 7, $5 million remaining.
Paid placement
Lemieux and his partner subsequently transformed the Penguins franchise and made it one of the most profitable in the entire NHL.
In November 2021, the group led by Lemieux and Burkle sold the team to the Fenway Sports group for a sum estimated at nearly $900 million. From this sale, several sources indicate that Lemieux received nearly $350 million.
Note that he remained a minority shareholder in the group.
