The Pens nearly went
bankrupt in 1999 after a series of lawsuits involving
Mellon Arena's management corporation and some heavy
creditors. In April and May, with
NHL scheduling plans being worked out and the future of the Penguins
franchise very much in doubt, three potential schedules were devised: one with the Penguins, one without, and one with the Penguins franchise in
Portland,
Oregon where an ownership group led by ex-
Microsoftie
Paul Allen was waiting.
Enter Mario Lemieux. Lemieux was actually the franchise's heaviest single creditor, as a result of several deferred bonuses coming due from his playing career, which had ended in 1997. After some protracted negotiations with the arena management group over a lease that was bleeding the club dry, Lemieux and his ownership group acquired the team.
The advertising campaign for the 1999-2000 season ticket drive used a very simple slogan, along with a picture of Lemieux:
745 games, 613 goals, 831 assists... and one save.
Lemieux has now (as of 27 December 2000) returned to the game, making him the first owner of a professional sports franchise to play for his team.