Penguins moving to Quebec ???

[blackhawksmaniac]

How bout the Pens just stay right here

I would love to see that. But, what ment to say was IF the pens had to move i would rather see them go to Winnipeg and why winnipeg would give more suppourt to a team. I feel QC wouldnt care much. And, winnipeg residents love the AHL team there and QC had a few but either folded or relocated.

 

[HandshakeLine]

That is part of the problem, but the bigger problem is the lease that the Pens have. They get pretty much nothing as far as revenues go from Concessions/Parking/ or any other events. They get revenue from hockey tickets...that's about it.

The lease that Baldwin negotiated for a piddling $10 million in improvments should be in business courses everywhere as a textbook example of how not to negotiate. Worst deal I think I've ever seen.

 

[mumbobob]

Why?

Becuase it's where they belong. Because that's where their history is. Because they won two Stanley Cups here, and the following season set a record for consecutvie wins and won the President's Trophy. Because Mario Lemieux adopted it as his home and put it on the hockey map. Because watching Lemiuex's Penguins teams created a hockey market, and a generation of hockey players (including myself). Because a team that picked second overall in the last draft played to 93.2% capacity last year. And finally, because even though hockey will never be THE sport in Pittsburgh, it is still a Pittsburgh sport. There's hard work, perserverance, and determination in it. And we love and support that sort of thing around here.

 

[clefty]

The problem with the Igloo/the Pens' finances is simple:

No luxury boxes.

There's more to that, and its all Howard Baldwin's fault. All of it.

When this incompetent businessman bought the team, he didn't have enough to take over the Arena rights, so those were sold to SMG for $24 million. The deal Baldwin made was a disgrace, SMG had the Penguins pay an outrageous $6.8 million in anual rent and they took a huge chunk of revenues from parking, concession, advertising and as said, whatever luxery suites the building had.

Of course, there was also Baldwin spending $130 million from private investors to renovate the current building instead of using it towards building a new one.

 

[Luigi Lemieux]

news is getting better and better for the pens staying. the hamilton bidders have backed out.

http://www.post-gazette.com/pg/06199/706586-61.stm

 

[Pens75]

http://www.post-gazette.com/pg/06199/706586-61.stm

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.

Those behind the Canadian bid, who have been careful to keep their identity secret, had been thought to have ties to Hamilton, Ontario. Instead, they might have been open to the idea of keeping the Penguins in Pittsburgh but wanted options if the Isle of Capri deal falls through or Plan B didn't seem suitable.

What they found was that the NHL probably would have blocked a move.

The NHL's bylaws are not public documents, but they contain a passage that defines many conditions that need to be exhausted before a team would be allowed to move, NHL spokesman Frank Brown said yesterday.

Since the Penguins' major problem is its facility, the NHL probably would not approve relocation as long as there is an active plan for a new arena.

 

[skullman80]

Thankfully the NHL knows that this team needs to stay here...

 

[Ted Hoffman]

The lease that Baldwin negotiated for a piddling $10 million in improvments should be in business courses everywhere as a textbook example of how not to negotiate. Worst deal I think I've ever seen.

Add in the deal that Norm Green signed after he moved the North Stars to Dallas - he signed a multi-million dollar deal for a company to pay for advertising at Reunion Arena.

Then it was pointed out after everything was signed that the lease the Stars signed to play at Reunion Arena specifically stated that all in-arena advertising revenues accrued solely to the Dallas Mavericks, meaning that Green and the Stars wouldn't see any of the money the company was going to pay.

 

[SidTheKid87]

The lease that Baldwin negotiated for a piddling $10 million in improvments should be in business courses everywhere as a textbook example of how not to negotiate. Worst deal I think I've ever seen.

Amen to that! I know he was the majority owner, but wasn't there anyone else around, someone from the voting board or other investors to say, "Uh, Howard, what do you think you're doing?"

And he failed to get on the new arena train when the city was in the early stages in talking about Heinz Field and PNC Park. What does he do instead? He takes the stop-gap route of renovating the Igloo for $10 million to line his own pockets with what amounts to be chump change for the owner of a major sports team. Amazing.

 

[SidTheKid87]

The Pens lease is almost exactly like the T-Blazers in this case. They get nothing but ticket revenue for the most part. No concessions, no parking, nothing from other events...

The fact the Portland spent $$$ like the Knicks for years, well exceeding the cap and paying the luxury tax, and never getting to the Finals didn't help either.

 

[Til the End of Time]

This franchise has needed saved way too many times.

 

[skullman80]

This franchise has needed saved way too many times.

Blame that one the building and the lease. If an arena is built back between 99 and 02, after Mario bought the team,like he was promised by the politicians, we wouldn't even be having this discussion.

 

[Habsaholic]

Quebec and Hartford never should have lost their franchises. Bring back the Adams Division

Agreed!

 

[Hartford HockeyFan]

Quebec and Hartford never should have lost their franchises. Bring back the Adams Division

Idiot! Quebec never should have lost their team and neither should of Winnipeg. Screw the fans of Hartford. They lost it for themselves. Hope the NHL doesnt return to Hartford.

Glad to see it looks like the Penguins will be going nowhere now with the latest news. I am glad to see another franchise will not have to move. Congrats to the fans of the Penguins.

I have started a petition to show our support for the Penguins. It is to help save the Penguins. Go to: http://www.PetitionOnline.com/Pens2007/

 

[MiamiScreamingEagles]

Seattle (NBA) to OKC? I would imagine any chance OKC getting the NHL would be hurt by this, if true.

http://msn.foxsports.com/nba/story/5794972

The Seattle SuperSonics announced the majority of the team has been sold to a group of investors from Oklahoma City at a press conference Tuesday afternoon.

The Basketball Club of Seattle will sell the teams to the Professional Basketball Club LLC, headed by Oklahoma City businessman Clay Bennett. Bennett said the Sonics' future in Seattle would depend on whether the team is able to reach an agreement with the city to replace or renovate KeyArena.