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Mario Lemieux just made some serious coin folks!

Well, this is the value of owning a franchise. Think about this. Mario paid zero taxes until he sold the team and then only had to pay capital gains. This is far less than income tax for someone simply making over $210,000 per year. And it is a one-time tax not a weekly tax (meaning you get to use the asset to build wealth whereas with income taxation you do not).

I've got a friend buying up autographed guitars from old music icons like Paul McCartney, Mick, Pink Floyd, etc. When they die, those guitars will double in value...all tax free until he sells them.
 
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Pretty much saved that team for the city.....while just across town, another more grinch-like character, short of packing the team up for a move, does just about everything else to destroy America's game for the hometown fans.
I agree that Mario is a true Pittsburgh hero. He kept the Pens in Pittsburgh. However, the only reason he was able to do that is the fact that hockey has a salary cap. Pittsburgh is able to field a competitive hockey team because of the salary cap. Baseball doesn't have a salary cap. The Pittsburgh market isn't able to field a competitive baseball team in today's market. The only hope for the Pirates is to be bought by a "sugar daddy" owner who runs the team at a loss of hundreds of millions each year to buy decent players. Yes, Nutting is a cheapskate but, even if he ran the Pirates for zero profit, they would not be competive. The problem for the Pirates is lack of TV money. The big boys (Yankees, Dodgers, Red Sox, Cardinals, etc.) make hundreds of millions each year on their TV contracts. The Pirates make peanuts. Without a "sugar daddy" owner the Pirates are doomed to be a last place team until there is absolutely no fan interest and the team moves to another market. This should have happened about 25 years ago before the taxpayers footed the bill for PNC Park.
 
I agree that Mario is a true Pittsburgh hero. He kept the Pens in Pittsburgh. However, the only reason he was able to do that is the fact that hockey has a salary cap. Pittsburgh is able to field a competitive hockey team because of the salary cap. Baseball doesn't have a salary cap. The Pittsburgh market isn't able to field a competitive baseball team in today's market. The only hope for the Pirates is to be bought by a "sugar daddy" owner who runs the team at a loss of hundreds of millions each year to buy decent players. Yes, Nutting is a cheapskate but, even if he ran the Pirates for zero profit, they would not be competive. The problem for the Pirates is lack of TV money. The big boys (Yankees, Dodgers, Red Sox, Cardinals, etc.) make hundreds of millions each year on their TV contracts. The Pirates make peanuts. Without a "sugar daddy" owner the Pirates are doomed to be a last place team until there is absolutely no fan interest and the team moves to another market. This should have happened about 25 years ago before the taxpayers footed the bill for PNC Park.
There are two ways to make money as a franchise owner: small annual profit or increase the franchise value. For the Indians Guardians, they lose about $1m per year. However, the owner bought them for $323m in 2000. The franchise, today, is estimated to be worth $1.16B. So they lost $22m in operating expenses over 22 years. However, they gained $837 million. That is a net gain of $815 million dollars in 20 years.

I recall Lamar Hunt being asked if he was concerned his son losing $1m per year on the KC Chiefs. His son was worth over $200m at the time. HIs response "yes, in $200 years he'll be broke". Reality is he's made over $500m on the KC Chiefs tax free. Nice work when you can get it.
 
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There are two ways to make money as a franchise owner: small annual profit or increase the franchise value. For the Indians Guardians, they lose about $1m per year. However, the owner bought them for $323m in 2000. The franchise, today, is estimated to be worth $1.16B. So they lost $22m in operating expenses over 22 years. However, they gained $837 million. That is a net gain of $815 million dollars in 20 years.

I recall Lamar Hunt being asked if he was concerned his son losing $1m per year on the KC Chiefs. His son was worth over $200m at the time. HIs response "yes, in $200 years he'll be broke". Reality is he's made over $500m on the KC Chiefs tax free. Nice work when you can get it.
I wonder if the value of the Pirates will appreciate like the value of the Cleveland Indians or the KC Chiefs. I'm not sure, but the Pirates fan base in Pittsburgh is quickly disappearing.
 
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I wonder if the value of the Pirates will appreciate like the value of the Cleveland Indians or the KC Chiefs. I'm not sure, but the Pirates fan base in Pittsburgh is quickly disappearing.
Agreed. If they can put together a good, young team like the Guardians, the trajectory of value goes up. But you've got to have millions of dollars of disposable cash and there aren't a ton of people with $100m lying around who can take that risk.
 
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Pretty much saved that team for the city.....while just across town, another more grinch-like character, short of packing the team up for a move, does just about everything else to destroy America's game for the hometown fans.
After he made the purchase they put out a fantastic commercial. Showed videos of Lemieux scoring goals with all his records over laid......how many Cups, How many MVPs, how many goals scored etc, then he was standing there in a business suit and the words ‘One great save’ for him having saved the franchise!
 
After he made the purchase they put out a fantastic commercial. Showed videos of Lemieux scoring goals with all his records over laid......how many Cups, How many MVPs, how many goals scored etc, then he was standing there in a business suit and the words ‘One great save’ for him having saved the franchise!
He is the most talented player ever.

Yes, Gretzky scored more and had more cups.

What Lemieux did with ridiculously inferior line mates and teams solely focused on him was unbelievable.

At his peak, none were equal.
 
He is the most talented player ever.

Yes, Gretzky scored more and had more cups.

What Lemieux did with ridiculously inferior line mates and teams solely focused on him was unbelievable.

At his peak, none were equal.

Anybody who had Gary Rissling on his line truly knows he really carried the team several years!
 
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Mario carried the Pens on his back for years. So much so that he needed surgery for herniated disks and had to have someone tie his skates because he couldn’t bend down far enough. He endeared himself to the hard working blue collar Western Pennsylvanian who also showed up to work hurting and aching. My coal miner dad who couldn’t tell you a single hockey rule other than it’s on ice…absolutely loved Mario simply for his toughness.
 
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