"Pittsburgh Penguins" sale/arena/slots/etc. thread

[Jaded-Fan]

he just paid 175 million dollars for a team .


he is linked to a $50,000 dollar agreeement to Copps Colisieum .
that little agreement is causing him more grief and phone calls
right now than it is worth !!!


"are you moving the team jim ""are you moving the team jim" "what about the 50,000 lease agrrement etc"

it's not worth the hassle right now at this pirticular moment .
so they say they wont renew it and his phone quits ringing about relocation FOR NOW . whew that was simple . until dec 20th right ?


how quick can he get the agreement back ? IF he wants it back
id say in about 3 days .

FOR NOW it's best to turn off the $50,000 dollar headache until the casino license gets awarded . Then will see how it all goes from there .


A cancelled agreement also will go along ways , IF he does have to move the team .

canceling the agreement would give some ammo for him to say atleast i tryed and my intentions were to keep them here . it just didnt work

it will all be layed out much clear and without doubt in jan /feb07


i hope it works out from the PENS to stay i really do .

On the skeptical side ive been around long enuff not to buy or read into some $50,000 agreement that has been cancelled as "hourray " there no way were moving .

That agreement most definalty can be drawn back up faster than you can say Sidney Crosby .

Maybe they will play outta the ACC who knows .


ill just be glad to see it over with FOREVER . New rink or Bust .
It has to end NOW . no more messin around .

Yeah right. I seriously doubt that anyone believes you regarding your deep felt desire to see the Pens remain in Pittsburgh given what I have seen come from you on the issue. I certainly do not believe you and sense some heavy bias toward a move.

In any event the desires of the presumptive new owner are almost totally irrelevant. I say presumptive because absent NHL approval he is just a fan with bucks, nothing more. Nor will he be anything more. And he can not sue to make the sale go through either. He will not get the sale approved if there is a reasonable lease offer and arena deal on his desk and he does not sign. And yes, I can say that with confidence, given Bettman's comments. You however are talking about a wish and a prayer when it comes to some surity of Basilli having some magic wand to make the NHL approve his purchase. Or do you think that the NHL would gladly embrace a lawsuit if they approve the sale and then say no to a move, assuming that is his desire. Bettman is no idiot. What I described is the reality. Bank on it.

 

[skullman80]

Cuban still wants a piece of the Pens..

http://www.pittsburghlive.com/x/pittsburghtrib/sports/penguins/s_474996.html

Mark Cuban still wants a piece of the Penguins.

Cuban, who owns the NBA's Dallas Mavericks, has offered to join forces with new team owner Jim Balsillie as an investor.

Cuban, a Mt. Lebanon native, contacted Balsillie last week, after the Canadian billionaire signed a purchase agreement for the Penguins.

"I sent him an e-mail offering any support I could to help him with the team in Pittsburgh," Cuban wrote Friday in an e-mail to the Pittsburgh Tribune-Review. "He sent me a nice reply. Hopefully, we can do something together."

Cuban said Balsillie has not yet indicated whether he will accept the offer. According to outgoing owner Mario Lemieux, Balsillie did not have any partners in his bid for the team.

Balsillie was unavailable for comment yesterday.

During the bidding process for the Penguins, Cuban was part of a group of investors that included New York businessman Andrew Murstein and Hall of Fame quarterback Dan Marino.

At the time, Cuban said he joined Murstein's group to try to ensure the Penguins remained in Pittsburgh. The franchise's future is in limbo, pending the resolution of a funding plan for a new arena.

However, Cuban revealed yesterday that he dropped out of the Murstein group before the sale process reached its final stage.

"They were nice and professional, but they were investors first and fans second," Cuban wrote. "The further we got in, the more concerned I got of what would happen if we won the bidding. I told them I didn't want to be part of a group where winning wasn't ahead of IRR (individual rate of return)

"As the season got closer, there was no urgency or excitement about the season. It was about negotiating tactics."

 

[Grave77digger]

how awesome would it be to have 2 billionaire owners who are dedicated to a winning team

 

[Egil]

how awesome would it be to have 2 billionaire owners who are dedicated to a winning team

I would actually prefer just one. 2 owners can cause conflicts, which leads to poorer performance.

 

[hockeydadx2*]

I would actually prefer just one. 2 owners can cause conflicts, which leads to poorer performance.

Given what we have now, with Lemieux LLP and McClatcheyNutting, I imagine most Pittsburghers would take their chances with the dueling billionaires.

 

[Ted Hoffman]

I'm not going to take the time to split out all the posts that would go in a new thread, but if you guys want to take up the "Pens to Hamilton/Kitchener/Moose Jaw/other location in Ontario/Saskatchewan/Northwest Territories" debate, start up a new thread.

 

[Pens75]

"Rather than saying, 'Oh, my God, what's going to happen to us?' one could turn it around and say, 'Look at the trust and faith this person has put in the market,' " Mr. Balsillie said last week during a 30-minute interview

"Mario [Lemieux, the Hall of Famer and part owner of the team] wants his money because it's what he lives on. The majority owner [Ron Burkle] is not interested. He lives in Beverly Hills and has other interests, which is fine. And so now you have someone who's close and capable and interested, and who is taking a heck of a risk."

Mr. Balsillie dismissed some of the potential target cities that might want the Penguins if plans for a new arena here aren't realized -- and if the NHL, which still has to approve the sale, allows such a move.

"Hamilton? Yeah, the [Toronto Maple] Leafs will be really supportive of that," he said. "Kansas City? I mean, come on. Now I've taken a 40-minute flight [to Pittsburgh] and made it two hours, and to an unproven market.

"They talk about Oklahoma [City]. It's like, puh-lease. And Portland? Puh-lease. Now I'm going from the frying pan into a big fire."

Mr. Balsillie often takes Jamie to NHL games. Now, instead of driving some 90 minutes to downtown Toronto to watch Maple Leafs games, he will be taking a small private jet to Pittsburgh in equal or less time to watch the Penguins. It's 40 minutes in the air to Pittsburgh.

After the 4-0 win over Philadelphia, which started 20 minutes late because of a pregame ceremony, he was home in bed by midnight. "I'm totally, totally interested in going to lots of games," Mr. Balsillie said.

"There's just no ambiguity about the imperative of an arena, and I inherited the situation, but for me, my hands are tied," Mr. Balsillie said, referring to the Penguins' exclusive contract with Isle of Capri Casinos Inc., which has pledged $290 million toward construction of a new arena if it gets the city's slots license in December.

"The point is, it's been seven years" since Mr. Lemieux brought the team out of bankruptcy and got a handshake promise from politicians for a new arena. "What's two more months?

"Possibly, they might have taken Mario for granted over the last seven years. He gives them 20-odd years, two [Stanley] Cups, a major iconic citizen. Now you say something about the deadline -- well, what's the deadline difference now from a year ago and a year go and a year ago? It's just 10 percent more ridiculous every year."

http://post-gazette.com/pg/06288/730143-61.stm

I love this guy!

 

[Jaded-Fan]

http://post-gazette.com/pg/06288/730143-61.stm

I love this guy!

He could be just saying the right things. But I am pretty good at reading between the lines and assessing situations. It is what I do for a living. And I truly believe that Basilli bought that team to keep it here. Was it his first choice? No. He would have loved to have moved it to Hamilton or somewhere close to there IMO. That was his original intent in bidding. But think about it for a second. Move aside all the obsticals to his even owning the team if he had some scheme all along to drop his pants and moon the NHL, move the team and say try and stop me and I will sue you. He would never have dropped out in the first place if that were his plans. He in fact could have likely gotten the deal through months ago, approved by the BOG, then pulled and Al Davis. Now the time frame of the slots deal and BOG approval makes that virtually impossible. No, he dropped out and stewed on it, and decided to take the team anyways to keep it in Pittsburgh. To think otherwise given the known facts of the situation is, I am sorry, but either wishful thinking in the extreme, or stupidity, also in the extreme.

 

[Bringit*]

Based on what?

Sounds like a foggy assumption to me.

foggy ? You're insane .. Ontario has 14 million people for crying out loud. If two teams can be around the LA area of all places, most definitely Ontario can hold more than 2 teams with the hockey crazed market there.

Sticking a team in the Kitchener-Waterloo area for instance, with guys like Crosby and Staal , would bring caravans driving for hours from all directions to watch that team play .. Season tickets would be gone the first day of sale..

-

 

[Bringit*]

I definitely could see the Pens one day moving to Ontario Canada. The new owner is passionate about canadian hockey and the history of it. He was interviewed on CBC opening night before the Toronto-Ottawa game from his home here and he may just move the penguins.. .

The Atlanta Flames moved from Atlanta to Calgary, and it was obviously a good move..

-

 

[hockeydadx2*]

(Cuing music....)

When you wish upon a star......

 

[Rob]

Provided that they would have a new rink built, Mississauga would be an awesome location for an NHL team.

 

[Northern Dancer]

Provided that they would have a new rink built, Mississauga would be an awesome location for an NHL team.

Not going to happen, how many times do we have to go thru this, no city in Ontario is going to build a rink for an NHL team !!!!!!!!!!!!!!!!!!!

 

[Timmy]

Not going to happen, how many times do we have to go thru this, no city in Ontario is going to build a rink for an NHL team !!!!!!!!!!!!!!!!!!!

Not true, my friend.

As we speak, the good folks in Tobermory are desperately filling Mr. Johnston's acreage with water, waiting for the freeze, and building bleachers in the meantime.

Methinks you're downplaying the efforts of the citizens of Tobermory, and, quite frankly, I find it offensive.

 

[leafsrocker]

Jim Balsillie Update:

I don't know why but there's been some interesting news lately when if comes to Mr. Balsillie and nobody seems to be making a big deal of it and they should and it is this.....couple of weeks back the Hamilton Spectator printed of a short 2-paragraph article....below a copy of what the article had to say:

[Start of article]

SECURITIES: RIM OFFICERS ORDERED NOT TO TRADE ITS STOCK

The Ontario Securities Commission has ordered officers and insiders of Blackberry maker Research In Motion Ltd., including co-CEOs Jim Balsillie and Mike Lazaridis, to stop trading in the company's stock after it missed financial reporting deadlines.

The missed deadline was Oct 17.

RIM disclosed Friday that the U.S. Securities and Exchange Commission has asked it to voluntarily provide documents related to its stock-option practices. The company, which announced four weeks ago that it had begun a management-initiated review of its accounting practices and financial statements, said it intends to comply with the SEC's request

[End of article]

.....that was 2-weeks ago....and then there was another small 2-paragraph article posted in the Spec last week....below the article:

[Start of article]

TECHNOLGY: RIM FINDS ADDITIONAL ERRORS IN REVIEW OF STOCK OPTIONS

Research In Motion Ltd., said yesterday its review of past stock-option practices has uncovered additional "technical"errors beyond those outlined 2-weeks ago.

The maker of the Blackberry mobile devices does not anticipate a significant adjustment to better-than-expected preliminary quarterly results announced two weeks ago or to its historical financial reporting.

[End of article]

I'd like some thoughts and/OR opinions on the above 2-Jim balsillie articles from the posters of this Forum.

Thanks.

 

[Northern Dancer]

Not true, my friend.

As we speak, the good folks in Tobermory are desperately filling Mr. Johnston's acreage with water, waiting for the freeze, and building bleachers in the meantime.

Methinks you're downplaying the efforts of the citizens of Tobermory, and, quite frankly, I find it offensive.

 

[Lionel Hutz]

Jim Balsillie Update:

I don't know why but there's been some interesting news lately when if comes to Mr. Balsillie and nobody seems to be making a big deal of it and they should and it is this.....couple of weeks back the Hamilton Spectator printed of a short 2-paragraph article....below a copy of what the article had to say:

[Start of article]

SECURITIES: RIM OFFICERS ORDERED NOT TO TRADE ITS STOCK

The Ontario Securities Commission has ordered officers and insiders of Blackberry maker Research In Motion Ltd., including co-CEOs Jim Balsillie and Mike Lazaridis, to stop trading in the company's stock after it missed financial reporting deadlines.

The missed deadline was Oct 17.

RIM disclosed Friday that the U.S. Securities and Exchange Commission has asked it to voluntarily provide documents related to its stock-option practices. The company, which announced four weeks ago that it had begun a management-initiated review of its accounting practices and financial statements, said it intends to comply with the SEC's request

[End of article]

.....that was 2-weeks ago....and then there was another small 2-paragraph article posted in the Spec last week....below the article:

[Start of article]

TECHNOLGY: RIM FINDS ADDITIONAL ERRORS IN REVIEW OF STOCK OPTIONS

Research In Motion Ltd., said yesterday its review of past stock-option practices has uncovered additional "technical"errors beyond those outlined 2-weeks ago.

The maker of the Blackberry mobile devices does not anticipate a significant adjustment to better-than-expected preliminary quarterly results announced two weeks ago or to its historical financial reporting.

[End of article]

I'd like some thoughts and/OR opinions on the above 2-Jim balsillie articles from the posters of this Forum.

Thanks.

No big deal, those are my thoughts. Corporations miss deadlines with the SEC all the time and get such orders as a matter of course. Sometimes it is a symptom of some bad stuff going down, most often it is nothing.

By the way, I am LMAO at this thread. Pure wishful thinking.

 

[timmy12]

http://www.pittsburghlive.com/x/pittsburghtrib/s_480703.html

New Penguins owner Jim Balsillie said today the only reason the team would leave Pittsburgh is if it is "fundamentally kicked out" of the city.

 

[Artyukhin*]

Bettman: Pens' future may hinge on casino

http://www.tsn.ca/nhl/news_story/?ID=186293&hubname=

 

[Artyukhin*]

Majestic Star Casino outshines rivals in state study


http://www.pittsburghlive.com/x/pittsburghtrib/s_481640.html

By Andrew Conte
TRIBUNE-REVIEW
Tuesday, November 28, 2006

Majestic Star Casino would deliver the biggest jackpot for taxpayers if it gets Pittsburgh's casino license, according to a state study released Monday.

With 5,000 machines -- more than either of its competitors for a casino license in Pittsburgh -- the Detroit company's North Shore casino would bring in more than $1.3 million a day, or $483.6 million a year, according to the state Gaming Control Board.

"This is consistent with what we've been saying all along," said Majestic Star spokesman Bob Oltmanns.

 

[Artyukhin*]

Plan B the key for Pens

By Joe Starkey
TRIBUNE-REVIEW
Wednesday, November 29, 2006

The Penguins could be gone by next season.

Why doesn't anyone want to believe that?

Why doesn't anyone seem to care?

http://www.pittsburghlive.com/x/pittsburghtrib/sports/s_481850.html


Though an Isle of Capri victory would legally bind Balsillie to the city and provide Pittsburgh with a free arena, it seems about as likely as the Steelers making the playoffs, given the political ties of opposing license seeker Forest City Enterprises.



"This is going to be beyond our control, possibly, if the Isle of Capri doesn't get the license," Bettman said. "Then you have to get into a negotiation of what Plan 'B' is, and you don't know what other offers are going to be made from other places."

 

[Maken*]

It also seems that Balsillie will be approved as owner before the slots license is awarded.

It certainly looks as though the Penguins will be moving if the IOC doesn't get the nod.

 

[Poignant Discussion*]

I thought the arena was "in the bag"

It's really too funny how often the NHL has had to bail out this team over the years only to get more B.S. from the city planners and ownership

Enough is enough

- The team still plays out of its first arena (which was outdated about 20 years ago)
- The team has been losing money for years, actually I'm not sure if the team has ever made any money. Even during the Stanley cup years I believe they were losing money
- The team has been promising an arena for 4 or 5 years and it does not look to be any closer than it was 20 years ago

There are markets right now that deserve a team more so than the city of Pittsburgh.

Yes the Pens have fans, but there are hockey fans in Quebec City too and they have no hope of getting a team either because of their building

This goes way beyond the "its not a hockey market" stuff....yes Pittsburgh is a hockey market but its not a profitable one at this time or in the near future and I'm sick of watching the profitable teams help a market thats only fault for the mess they are in, is their lack of doing anything productive.

Christ they HAD the resources to build a new building in the early 90s with a championship team but the owner decided to renovate the building rather than build a new one so he could make a few extra bucks

It's time to kill this team, I hate saying it because up until the last few years I stuck up for them as much as anyone. But enough is enough...to many empty promises....to many money problems. The city does not WANT the team...why should the nHL want it any longer either then?

 

[Mr Jiggyfly]

I thought the arena was "in the bag"

It's really too funny how often the NHL has had to bail out this team over the years only to get more B.S. from the city planners and ownership

Enough is enough

- The team still plays out of its first arena (which was outdated about 20 years ago)
- The team has been losing money for years, actually I'm not sure if the team has ever made any money. Even during the Stanley cup years I believe they were losing money
- The team has been promising an arena for 4 or 5 years and it does not look to be any closer than it was 20 years ago

There are markets right now that deserve a team more so than the city of Pittsburgh.

Yes the Pens have fans, but there are hockey fans in Quebec City too and they have no hope of getting a team either because of their building

This goes way beyond the "its not a hockey market" stuff....yes Pittsburgh is a hockey market but its not a profitable one at this time or in the near future and I'm sick of watching the profitable teams help a market thats only fault for the mess they are in, is their lack of doing anything productive.

Christ they HAD the resources to build a new building in the early 90s with a championship team but the owner decided to renovate the building rather than build a new one so he could make a few extra bucks

It's time to kill this team, I hate saying it because up until the last few years I stuck up for them as much as anyone. But enough is enough...to many empty promises....to many money problems. The city does not WANT the team...why should the nHL want it any longer either then?

Why do people with no clue speak on subjects they know nothing about?

 

[OnMyOwn]

Why do people with no clue speak on subjects they know nothing about?

your exactly right, we live here and see this **** everyday, and hear everything that goes on, not every single bit of information on the arena and slots is national news. oh and the ioc will make about 487 mil annually.