Fingold to buy Pens for $175M

According to Sam Fingold, a Toronto native, and a Hartford, Conn.-based commercial real estate broker, signed a letter of intent Friday to purchase the Pittsburgh Penguins from Hall of Famer Mario Lemieux’s group. The deal is expected to be in the $175 million US range was announced after the 34-year-old Fingold met with Lemieux. Fingold said he might be interested in moving the team to Kansas City and its new arena. But in a statement issued by the team Friday night, he said he now intends to keep them in Pittsburgh as long as a new arena is built there.

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19 Responses to Fingold to buy Pens for $175M

  1. Brux87 says:

    Hopefully Fingold keeps his promise to try and keep the Pens in town. It would be uterly dissappointing to see a great hockey franchise leave after having a great run in Pittsburgh! I do believe that a new arena will be built and the Pens will survive. I mean, who really can see hockey in Kansas City, they probably dont know what anything is besides football and farms out there!

  2. CrosbyMalkin66 says:

    He will keep the team here. Lemieux wouldnt have sold it to him if his intentions were not to try his hardest to keep them here. Fingold will not up and move this organization and i dont feel Gary Bettman would just let him anyways. A new arena will be built and the pens will be here to play in it

  3. tancred says:

    I love all the stereotypical things I read on this site. As a resident of a KC suburb, I can tell you that a majority of KC’s people more than likely know more than just football and farms. We do love our Chiefs, and farming is a big part of the state’s economy (though that is more for the rural areas; its called Kansas CITY for a reason).

    I would love to have an NHL team here. Not neccessarily at the expense of Pittsburgh, but it would still be nice. Whatever happens with the Penguins, I wish the issue would hurry up and resolve itself. When will it be determined if the slot machine issue passes or not?

  4. Preft says:

    HARTFORD OR WINNIPEG Would be The best


    and for malkin..wait ..Because HE NEVER PLAY NHL

  5. kamullia says:

    The decision on the slots license should be resolved by December, but being a political issue there is always, albeit small, the chance that it can be delayed. But if it is delayed, I doubt it will be more than a month or so. Apparently everyone is hard-pressed to find a better deal for the city (in many respects, not just hockey) than IOC, but seems that Harrah’s political influence is very big. And we all know political influence counts much more than anything here, unless the vast majority of the voters start “yelling” for IOC, which has not happened yet.

    As far as the Pens moving, whoever the owner is, if IOC does not win the license then they are able to start negotiating with the government’s so called “Plan B”. Once the owner is set, he can not legaly do any negotiating as far as an arena, until the decision on the license is resolved first. In fact, he can not even comment on a plan. This is why there has been next to no comment on “Plan B” by the Penguins or the ownership group, other than critisizing it when it was at the infant stage and there were very few details.

    This is part of the reason why politicians have already contacted Fingold, who is not part of ownership yet, to do a pre-emptive verbal and theoretical negotiation before he could become owner. The Allegheny County Chief Executive, Dan Onorato, got Fingold’s phone number from Ken Sawyer, the present Penguins CEO and already called him last night. Change in ownership will literally take months, since the sale has to be approved by the NHL owners who have the final say on it.

  6. sensfan7 says:

    penguins suck. they have had no success since the jagr and lemieux days.

  7. kamullia says:

    Best how?

    Financially the best place would be Kansas City. That is without a doubt in black and white. Why? Because this is about suites and a favorable lease and KC would be giving just that in their arena. Attendance should not be an issue anywhere. The Penguins have such a bright playres future that it is hard to find any community not excited over their possible future.

    And as far as Malkin, the only thing stopping him from playing in the NHL is a letter of resignation, because that is all that Russian law requires. That is if the Russian Federation, IIHF, NHL and NHLPA do not strangle Magnitogorsk into finally signing the transfer agreement first.

  8. intelligentscorpio says:

    It seems that finally Lemieux will get the money owed to him for more than a decade, when he played for the Pens in his prime.
    It is great that the team is going to be sold, and it will stay in Pittsburgh, although KC is a good second option.
    I hope that Lemieux keeps a small portion of the team, and be part of the ownership group, to continue his retirement and still be part of hockey, albeit in a small way.

  9. ranger_fan says:

    If Pittsburgh moves to Kansas City… does Boston move to the Atlantic and Detroit to the North East? Or does Nashville move to the SE, and Washington to the Atlantic?

  10. kamullia says:

    And this is what happens when the doctor throws away the kid and they keep the placenta.

    Did your mother at least get compensated?

  11. BLUE_AND_WHITE says:

    Pens to west, Detroit goes to Northeast goes to Atlantic, but that will all be NEXT season, if the team moves thi year they sta in the same division

  12. kamullia says:

    Quite premature to talk about this. But if it did happen, I can see many teams as candidates to be moved from divisions, if they wanted a realingment, including MIN, DAL, CLB, NAS, WAS.

    I do not see any team being moved out of the NE.

    But more than likely, they would have KC play in the Atlantic at first, and if they wanted to keep things simple (and not do a major realignment) then probably move CLB into the ATLANTIC and put KC into the CENTRAL.

    I am sure I am overlooking many possibilities, but I think the list of likely candidates to move is correct.

  13. kamullia says:

    I would be surprised if Lemieux would be asked to join the Fingolds. The Fingold group is a family venture between Samuel (the bidder), Michael (his brother) and David (the father).

    But more than that I doubt Lemieux would want the pressure from or even be associated with the Penguins possibly moving.

    It is rumored that Lemieux is tired of being an owner, mainly because of the runaround he has been given by the politicians about an arena and from day one he had said he was not interested in being an owner. He did it with the double intent of keeping the Penguins in Pittsburgh and protecting his investment.

    As far as getting his money, he is getting his money and a heck of an interest on it. I would be shocked if he did not at least double his money, even after paying off all the debts.

  14. watson2006 says:

    One has to question why at the beginning Fingold was talking about moving the team, and now is saying he wants to keep the team in Pittsburgh… I think he is telling people what they want to to hear and then move the team. A new arena is anything but a done deal, many things have to happen, and in Pennsylvania those things take a good long time which would give Fingold an out that the NHL would agree with to allow him to move the team

    Kansas City Penguins…. playing soon at the

  15. watson2006 says:

    can move until the 200708 season, the have a lease to play in mellon arena for 2006-07

  16. watson2006 says:

    CAN’t move*

  17. bleed_penguins says:

    Yea hold on while I recall the last time the sens won the cup. Or maybe by success u mean finishing first in the regular season and then choking in the playoffs every year. If thats what you mean by success then ya they suck.

  18. Andy-O says:

    Hey bud,

    Perhaps you should do a little research before posting, have you forgotten about the Kansas City Scouts? K.C. had a team, one that had a decent following. I would like to see the Pens stay in Pittsburgh, but don’t blame the fans of a particular area; the City of Pittsburg is to blame for neglecting their greatest franchise. They allowed both the Pirates and the Steelers to get new stadiums, but neglected the Pens for years!

    If anything they should not move to a city that failed once before. How about relocating to a city that never failed and has a decent ice hockey following; such as: (U.S.) Portland Oregon, Montpelier Vermont, Seattle Washington (Canada) London, Burnaby, Red Deer, Mississauga, Saint John, Regina, etc?

    The biggest question should be is how in heck did a 34 year old mass so much wealth? I can’t even buy a team on NHL 06!

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