Thread: Pens Tidbits
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Old 12-15-2006, 11:10 PM   #548
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Default Re: Pens Tidbits

Originally Posted by 83-Steelers-43 View Post
Balsillie pulls out of Penguins purchase
Friday, December 15, 2006

Shelly Anderson, Pittsburgh Post-Gazette

Canadian billionaire Jim Balsillie has withdrawn his offer to buy the Penguins after reaching a stalement with the NHL over last-minute demands by the league.

Those demands included a promise to keep the team in Pittsburgh under any circumstance and give the NHL the right to take control of the Penguins.

Balsillie, 45, chairman and co-CEO of a company that makes BlackBerry wireless devices, offered $175 million for the Penguins Oct. 4. He has said a new arena is required if the team is to remain in Pittsburgh.
Originally Posted by Petesburgh66 View Post
Considering I live near the centre of the hockey universe (aka Toronto), the talk in the media here was that Balsillie was looking to move a team into the Kitchener/Waterloo area. He is so full of it that he wanted to keep the team in Pittsburgh. He already spent money via legal advise to find ways to move a NHL team to Canada.

The NHL did the right thing by laying down the conditions to keep the team in Pittsburgh. They do not want some Al Davis type of owner.
Originally Posted by skidboot View Post
Bang on Petesburgh.

I'm basically from the same neck of the woods as you are. You must be from Peterborough....I'm 45 mins away if this is where you are from.

Balsillie wanted to move that doubt in my mind.

Pay 175M and then have the League tell you how to run your team?
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