Penguins sold...

[AppGuy04]

http://sports.espn.go.com/nhl/news/story?id=2613591

The Pittsburgh Penguins have an agreement in place to be sold to a Canadian businessman, according to a report Wednesday from KDKA TV in Pittsburgh.

Jim Balsillie, owner of the BlackBerry manufacturer Research In Motion, has purchased the team for $175 million, according to the report, with an official announcement expected to come Thursday.

[89Hen]

Hamilton Penguins... will be tough getting used to the name.

http://www.surf-forecast.com/locationmaps/Hamilton.jpg

[bluehenbillk]

Without a new arena I can't see the Pens staying in Pittsburgh & good point, Hamilton has a really nice arena sitting empty.

[dbackjon]

Would he take YSU with him? :O

[AZGrizFan]

http://sports.espn.go.com/nhl/news/story?id=2613591

The Pittsburgh Penguins have an agreement in place to be sold to a Canadian businessman, according to a report Wednesday from KDKA TV in Pittsburgh.

Jim Balsillie, owner of the BlackBerry manufacturer Research In Motion, has purchased the team for $175 million, according to the report, with an official announcement expected to come Thursday.

Is it just me, or does that price seem awful cheap? :confused: :confused:

[GannonFan]

Is it just me, or does that price seem awful cheap? :confused: :confused:

Considering the fact they almost went bankrupt a few years back and considering hockey almost died as a sport a couple of years ago and considering the fact that without a new arena this team won't be long for Pittsburgh then no, the price doesn't seem cheap.

Is anyone even left in Pittsburgh to care enough to keep this team around?

[89Hen]

Is it just me, or does that price seem awful cheap? :confused: :confused:
Actually, according to Forbes values he overpaid. If he moves the team to Hamilton, they'll become worth even less.

Detroit Red Wings NHL Michael Ilitch $266 million
New York Rangers NHL C. Dolan/J. Dolan $263 million
Philadelphia Flyers NHL Comcast Corp. $262 million
Dallas Stars NHL Tom Hicks $254 million
Colorado Avalanche NHL Stanley Kroenke $250 million
Boston Bruins NHL Jeremy Jacobs $243 million
Toronto Maple Leafs NHL The Ontario Teachers' Pension Plan $241 million
Chicago Blackhawks NHL Bill Wirtz $218 million
Los Angeles Kings NHL P. Anschutz/E. Roski $205 million
Montreal Canadiens NHL George Gillett Jr. $187 million
New Jersey Devils NHL YankeeNets $159 million
San Jose Sharks NHL K. Compton/G. Reyes $158 million
New York Islanders NHL C. Wang/S. Kumar $156 million
Columbus Blue Jackets NHL John McConnell $150 million
St. Louis Blues NHL Bill Laurie $148 million
Washington Capitals NHL Ted Leonsis $140 million
Minnesota Wild NHL Robert Naegele Jr. $139 million
Pittsburgh Penguins NHL Mario Lemieux $137 million
Atlanta Thrashers NHL Atlanta Spirit LLC $134 million
Nashville Predators NHL Craig Leipold $132 million
Carolina Hurricanes NHL Peter Karmanos Jr. $128 million
Florida Panthers NHL Alan Cohen $127 million
Tampa Bay Lightning NHL William Davidson $124 million
Phoenix Coyotes NHL S. Ellman/W. Gretzky $117 million
Anaheim Mighty Ducks NHL Walt Disney Co. $111 million
Vancouver Canucks NHL John McCaw Jr. $110 million
Ottawa Senators NHL Eugene Melnyk $95 million
Calgary Flames NHL Limited Partnership $94 million
Buffalo Sabres NHL NHL $92 million
Edmonton Oilers NHL Edmonton Investors Group $86 million

[dbackjon]

Toronto and Montreal have good values.

So does the higher price mean an arena deal is forthcoming?

[89Hen]

Toronto and Montreal have good values.
But Montreal is the lowest value of the Original Six and considering they are #1 or 2 in attendance every year, they must be worth less because of being in Canada. Rather ironic in a way.


Detroit Red Wings NHL Michael Ilitch $266 million
New York Rangers NHL C. Dolan/J. Dolan $263 million
Philadelphia Flyers NHL Comcast Corp. $262 million
Dallas Stars NHL Tom Hicks $254 million
Colorado Avalanche NHL Stanley Kroenke $250 million
Boston Bruins NHL Jeremy Jacobs $243 million
Toronto Maple Leafs NHL The Ontario Teachers' Pension Plan $241 million
Chicago Blackhawks NHL Bill Wirtz $218 million
Los Angeles Kings NHL P. Anschutz/E. Roski $205 million
Montreal Canadiens NHL George Gillett Jr. $187 million

[Marcus Garvey]

Without a new arena I can't see the Pens staying in Pittsburgh & good point, Hamilton has a really nice arena sitting empty.

No chance in hell of an NHL team in Hamilton. That's like putting a team in Willimington, DE. It's too small and too close to both Toronto and Buffalo, although I suppose most residents are Leafs fans. If Winnepeg couldn't keep their franchise, they won't stick one in Hamilton.

[Pard4Life]

Garvey is on the money... regional issues.. I even read it would be near to impossible hurdles to get them in Hamilton.. Toronto and less so Buffalo would have their revenue base a bit disturbed... not only fans, but advertising dollars, TV deals etc.

Canadian franchises are worth less... why not Quebec? Their arena, Le Colise, hasn't changed one bit though I believe..

I guess in the U.S. it's Kansas City, Milwaukee (?), Portland, Seattle.. San Antonio?

[89Hen]

FWIW, remember that before the strike and Crosby, the Pens were averaging about 11,000 per game. Hamilton's AHL team is probaby averaging 7,000.

[GannonFan]

No chance in hell of an NHL team in Hamilton. That's like putting a team in Willimington, DE. It's too small and too close to both Toronto and Buffalo, although I suppose most residents are Leafs fans. If Winnepeg couldn't keep their franchise, they won't stick one in Hamilton.

The one big thing that has changed since Winnepeg lost their team was the labor strife and the imposition of salary caps. Canadian teams couldn't compete with that, while under the new structure they should be on much more even economic footing as there is a tight range that all teams need to be within. It isn't outside the realm of possibility for the Pens to relocated to Canada under that rationale.

[Marcus Garvey]

The one big thing that has changed since Winnepeg lost their team was the labor strife and the imposition of salary caps. Canadian teams couldn't compete with that, while under the new structure they should be on much more even economic footing as there is a tight range that all teams need to be within. It isn't outside the realm of possibility for the Pens to relocated to Canada under that rationale.

I don't disagree that they could relocated to Canada, it's just not going to be to Hamilton.

[89Hen]

I don't disagree that they could relocated to Canada, it's just not going to be to Hamilton.
Angelos said the same thing about a MLB team in DC. :smiley_wi

[Hansel]

Garvey is on the money... regional issues.. I even read it would be near to impossible hurdles to get them in Hamilton.. Toronto and less so Buffalo would have their revenue base a bit disturbed... not only fans, but advertising dollars, TV deals etc.

Canadian franchises are worth less... why not Quebec? Their arena, Le Colise, hasn't changed one bit though I believe..

I guess in the U.S. it's Kansas City, Milwaukee (?), Portland, Seattle.. San Antonio?
Isn't KC building a brand new arena with no major tenant?

[89Hen]

You guys remember the Scouts?

http://encyclopedia.quickseek.com/images/Kansas_city_scouts_logo.JPG

[GoGuins]

Would he take YSU with him? :O

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