Pens Franchise Praised by Forbes Magazine

The Penguins franchise drew high praise this week from Forbes magazine, being compared to a franchise in the Mold of Berkshire Hathaway.

Forbes writer Mike Colligan whose an NHL analyst for the magazine, covering the business side of sports, took an indepth look at the lure of the Penguins franchise.

—Article from Forbes—

The Pittsburgh Penguins Dividend: A Franchise in the Mold of Berkshire Hathaway

By Mike Colligan

After former Philadelphia Flyers winger Arron Asham signed with the rival Pittsburgh Penguins over the weekend, his agent wasted no time revealing the reason for his decision to take less money with the team. “We had several very good offers,” Jarrett Bousquet told InsidePittsburghSports.com. “In the end, [Asham] felt Pittsburgh was the best place to win the Stanley Cup.”

Players turning down more lucrative offers to play for the Penguins is nothing new for the team. In 2008, Brooks Orpik shunned the New York Rangers and others to stay with the team, as General Manager Ray Shero explained at the time:

“You have guys who have called me — the same situation as last year — who really want to play here. I’m happy Brooks Orpik took less money to be here. He wants to be here.”

Last summer it was veteran forward Bill Guerin who took a $2.5m reduction in pay to remain in Pittsburgh:

The rest of the article can be read here (Forbes.com)