Lemieux: From Hockey Legend to Billionaire Owner

Mario Lemieux, a legendary figure in hockey, has built an empire far beyond the ice. Recognized as the wealthiest hockey player ever with an estimated $300 million net worth, Lemieux's business acumen is as remarkable as his playing career. His most significant business move occurred in 1999 when, during his first retirement, he stepped in to save the then-bankrupt Pittsburgh Penguins.

Lemieux converted $20 million of the team's $32.5 million debt into ownership equity, partnering with Ron Burkle to purchase the franchise for $107 million. This made him the first player in North American professional sports history to own the team he once played for. The gamble proved exceptionally successful, culminating in a December 2021 sale of the Penguins by Lemieux and Burkle to Fenway Sports Group for approximately $900 million.

His financial success also stems from strategic endorsements, including a career-spanning deal with Nike. Lemieux’s hockey achievements are legendary, marked by two Stanley Cups as a player and immediate induction into the Hall of Fame. He later added three more Stanley Cups to his name as a majority owner, cementing his legacy as a saviour and business magnate in Pittsburgh hockey.