Thread: Pens Tidbits
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Old 07-22-2006, 06:59 AM   #20
83-Steelers-43
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Default Re: Penguins Reject Cuban/Marino Group

It is extremely unlikely that Muirstein would be rejected over $5 million. There is a lot more to a bid than the dollar amount - there is financing. When you bid $170 million dollars, it isnt like you are going to reach into your pocket and pull out the money, no matter how rich you are..Even rich people do not use their own money to buy properties - they use credit. It is much more likely that the Penguins did not like Murstein's financing. Deals are frequently made with a lower bidder who has solid financing. The history of the NHL is littered with "bigshots" who had the highest bid but could actually come across when their financing fell through. I'm just not sold on this deal falling apart over $5 million dollars.

I think I'm going to puke.
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