Penguins leaving Pittsburgh

[Penguinfan]

I'm sure I'm the only one who cares about this, but if anyone can dig up some info on this I obviously would appreciate it.

Actually I'm looking for someone to give me a reason to hope they aren't leaving, but all the info I have gathered show me a deal is done and they are leaving at the end of this season.

Executive at BlackBerry, from what I can find out, has apparently written out the check and just waiting till ticket sales take off for the current season to announce anything.



Penguins------>>:sadwave:

 

[TORONTO-VIGILANTE]

i didn't even know this guy was the frontrunner to buy the penguins....??? AND he's CANADIAN?

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Would Canadian move Penguins?
Opinions mixed if Balsillie is new owner

Saturday, September 16, 2006
By Shelly Anderson, Pittsburgh Post-Gazette

There are differing opinions on what Ontario businessman Jim Balsillie might do with the Penguins should he be successful in buying them.

Two sources with knowledge of the sale process indicated yesterday that Balsillie could be expected to try to move the team to Ontario, probably Hamilton. Another source believes Balsillie might consider operating the team in Pittsburgh.

Balsillie is chairman and co-CEO of Research in Motion, the successful firm in Waterloo, Ontario, that makes the popular wireless BlackBerrys. He is the front-runner to buy the Penguins, who are owned in part by Hall of Fame player Mario Lemieux.

Approached by The Record of Waterloo Region about yesterday's the Post-Gazette story that identified him as a leading candidate to buy the Penguins, Balsillie called the story "not true." In a follow-up e-mail exchange with The Record, Balsillie softened his stance, writing, "I do not comment on speculation."

Balsillie bid around $175 million to $180 million earlier this summer and was close to entering into a letter of intent with the team but backed off. After Hartford real-estate developer Sam Fingold signed a letter of intent but could not reach a sales agreement, Balsillie re-emerged and could be close to a deal of some sort.

The team's future is tied to its facility. Its lease at aged Mellon Arena expires in June. Without plans for a new building, the team could be relocated.

There are two possibilities for a new venue -- the Penguins' arrangement with Isle of Capri Gaming, which will donate $290 million toward construction of an arena if it gets the city's slots license later this year; and a "Plan B" proposed by local and state officials that calls for money from slots, the state and the Penguins.
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[Penguinfan]

Shelly Anderson is as reliable as BeanTownJim.

Nobody is telling the truth about now, that is what has me most worried.

 

[kickserv]

FWIW....I used to live 10 minutes from Hamilton, there has been talk of a NHL team there for 20 years, nothing has ever panned out!

 

[Penguinfan]

A new twist to the rumors has Mark Cuban involved along with Balsille (Blackeberry guy).

I really don't know what to think, other than that my home opener tickets may be available on Ebay pretty soon.

 

[Sun Tzu]

Was alot of talk in Houston last year that the Rockets' owner would go after the Pens. havent heard anything lately however.

 

[KG5678]

Crosby playing in Canada? That would be something. I hope the Penguins stay in Pittsburgh, there about to be good again. Pittsburgh deserves this hockey team. Maybe Mario can work some of his magic.

 

[vinnie]

Canadian businessman agrees to buy Penguins

By JOE MANDAK, Associated Press Writer
October 5, 2006

AP - Oct 5, 12:24 pm EDT



PITTSBURGH (AP) -- Canadian business executive Jim Balsillie, whose company makes the BlackBerry wireless messaging device, signed an agreement to buy the Pittsburgh Penguins.

The announcement Thursday came hours before the Penguins were to open their season against the Philadelphia Flyers. The team did not disclose terms of the purchase agreement but said Balsillie was to be available Thursday night at Mellon Arena.

The Penguins, two-time Stanley Cup champions in the 1990s, were purchased in federal bankruptcy court in 1999 by a group that was led by Hall of Fame Penguins forward Mario Lemieux. Lemieux retired as a player last season and later put the team up for sale.

"Jim is a tremendous businessman and a passionate hockey fan, and I think he is going to be a great owner for the Pittsburgh Penguins," Lemieux said. "I know his hope is to get a new arena deal and keep the team here in Pittsburgh for the long-term."

The 45-year-old Balsillie, co-chief executive officer of Research in Motion Ltd., stepped in and began negotiating after the Penguins and Toronto businessman Sam Fingold could not complete a deal. The team said on July 28 that Fingold had reached a preliminary deal for approximately $175 million.



Balsillie's company is based in Waterloo, Ontario, not far from Hamilton -- a city that has been seeking an NHL team. NHL commissioner Gary Bettman said Wednesday night the league is intent on keeping the Penguins in Pittsburgh as long as a new arena is built.

Negotiations to replace the 45-year-old Mellon Arena have been held up because Lemieux's group has a deal with the Isle of Capri casino chain to build the arena at no cost to the team or city. But that deal is contingent on Isle of Capri being granted the license for a new slot machine parlor in downtown Pittsburgh.

The license is not expected to be awarded until at least the end of the year.

City and Allegheny County officials, along with Gov. Ed Rendell, have urged the team to agree to another deal to build the arena if Isle of Capri does not get the casino. Land for the project has been acquired across the street from Mellon Arena.

However, Lemieux's group has declined to accept the alternative plan, saying it is bound to the Isle of Capri deal.