Tuesday, December 13, 2005

Pittsburgh Local Government Makes An Offer

Hot on the heels of Mario Lemieux threatening that the Pittsburgh Penguins might move in 2007, the local governments on the city and county level have made their offer to the Penguins. The Penguins will be given development rights to the Mellon Arena site (where they currently play) if they can come up with $300 million to build a new arena on the site. The Penguins have hoped to make money to build their new arena with the proceeds from a slots license for which they are applying.

Its not clear if this is good enough for Pittsburgh Penguin ownership. They may want to negotiate for a better offer using the leverage that is provided from other markets such as Kansas City that would welcome the Penguins. It is unlikely we have heard the end of this.

Here is the report of this prospective deal from KDKA TV in Pittsburgh.

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