Take Hamilton out of the running for the Pens


According to people familiar with the sale process, the Penguins were ready to sell to the high bidder, a Canadian entity or group that offered $175 million or more, but that bidder backed out over the weekend based on what it learned about the NHL’s stance and the state’s “Plan B” for arena funding. That leaves four bidders standing.

8 Responses to Take Hamilton out of the running for the Pens

  1. mike7psu says:

    Those behind the Canadian bid, who have been careful to keep their identity secret, had been thought to have ties to Hamilton, Ontario.

    It’s believed the four remaining bidders — whose offers are in the $150 million range — are more willing to work with Plan B if the Isle of Capri does not get the slots license, although at least one of them might be holding out hope that if Plan B falls apart the team could still be moved.

    Allen and Company, the New York firm brokering the Penguins’ sale, contacted the remaining four bidders yesterday to inform them of the development with the Canadian bid.

    The remaining bidders are:

    Toronto native and Hartford businessman Sam Fingold, who has ties to Kansas City and its new arena but has said Plan B might be workable. He is partnered with his father and brother and would buy the team as a family venture.

    Boston area businessman Lawrence Gottendiener, who has no known partners. He has talked of wanting to keep the Penguins here or move them to Hartford.

    New York businessman Andrew Murstein, who has lined up a host of local investors, including Dallas Mavericks owner Mark Cuban and Hall of Fame quarterback Dan Marino. Murstein has pledged to keep the team in town.

    Ohio businessman and Arena Football team owner Jim Renacci, a Ringgold High School graduate who also wants to keep the team here. He has lined up Western Pennsylvania native George Karl, the coach of the Denver Nuggets, among his partners.

  2. CrosbyMalkin66 says:

    im routing for the Murstien group… Cuban and Marino they wont dick us over

  3. canaan says:

    muirsten or renacci would be good selections for us hopeful future PITTSBURGH penguins fans…go marino/cuban (both PGH natives as well)

  4. kamullia says:

    I think the key to this article, which was one of the parts that was not copied and pasted onto here, is that an NHL spokesman basically said that they would block the movement of the Penguins until all alternatives have been exhausted.

    This compounded with earlier reports on the Post-Gazette that suggests that politicians are also prepared to file legal action against any owner trying to move the Penguins, makes the Penguins extremely hard to move in all accounts.

  5. Paperhat5788 says:

    This is pretty good news for Penguins fans. Little by little the situation for the Pens is improving and hopefully a good deal will be made by the start of the season. I’m hoping that the Cuban/Marino group end up buying the team. The team would be in great hands with them.

  6. Whalerfan says:

    I’d love to have the NHL back in Hartford, But after losing the Whalers to Carolina, and the way the owner lied to us, I don’t want to take someone elses team. That sucks and just proves that there’s no loyality or honesty from the greedy owners.We dont want steal a team, we want our own team. Good luck to the Penguins fans. And don’t trust anyone.

  7. PensFansRejoice says:

    Notice so few responses to this article now that Canada is pretty much out of the running in the ‘lets move the penguins’ sweepstakes…

  8. CrosbyMalkin says:

    Yeah well, For our (Pens Fans) sake, I hope that these political people keep there end of any agreement and don’t stab us in the back. I hope that the person that is awarded to buy the team is one that wants to keep the Pens here. Just think what that would do economic wise to a city that is already hard up for money not to mention the small bars/buisnesses that would go under because lets face it, after football is over the only reason why pittsburghers go downtown on week nights in the winter is because of the Penguins. I just hope for our sake and the city’s that this all gets worked out soon and the right choices are made. It would be a sad day in hockey to lose the penguins to another town. I don’t know about you but a hockey team in Kansas City just sounds as dumb to me as one in Phoenix, AZ.

    I hate politicians and I don’t trust any of them so until something finalized is in place I’ll just keep hoping for the best for the city and the penguins and keep my fingers crossed.

    Go Pens!!!!!!!!!!!!!!!!!!

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