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Author Topic: Penguins sold for $175M  (Read 863 times)

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Offline Metalhawk

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Penguins sold for $175M
« on: October 05, 2006, 02:25:39 AM »
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The Pittsburgh Penguins have a new tentative owner, as an agreement is in place for the NHL team to be sold to Canadian businessman Jim Balsillie for $175 million.

Balsillie, the owner of Waterloo, Ontario-based Blackberry manufacturer Research In Motion, is expected to announce the purchase on Thursday.

When asked about the news at Wednesday's season opener between the Leafs and Senators in Toronto, Balsillie did not confirm nor deny the report, only saying, "Tomorrow."

Despite reports that he will move the team to Hamilton, Balsillie is intent on keeping the team in Pittsburgh.


http://www.tsn.ca/nhl/news_story/?ID=179841&hubname=nhl

No way in hell a team could go to Hamilton.
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Offline stone169

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Re: Penguins sold for $175M
« Reply #1 on: October 05, 2006, 07:51:42 AM »
They were saying on TSN last night that if a new building isn't built in Pittsburgh then he'll be moving the team either to Hamilton or Kitchener/Waterloo.  They jokingly called the team the Kitchiloo Blackberries.

But seriously though, this guy is contesting the territorial rights of the Leafs and Sabers.  So who knows.   They say that he's a shrewd business man and is probably shrewd enough to get a team into Hamilton.
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Offline OS

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Re: Penguins sold for $175M
« Reply #2 on: October 05, 2006, 08:34:08 AM »
They said he is getting legal opinion on the validity of the territorial rights. Based on that information he might decide to contest the rights hallenge, or maybe he just wants to know what his future options are.   So he isn't actually contesting the rights.
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Offline Special J

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Re: Penguins sold for $175M
« Reply #3 on: October 05, 2006, 09:51:18 AM »
Despite reports fantasies that he will move the team to Hamilton, the Peterborough, Ontario native is intent on keeping the team in Pittsburgh.

Fixed!
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Offline Broken Bones

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Re: Penguins sold for $175M
« Reply #4 on: October 05, 2006, 10:53:28 AM »
When a team is moved, does it have to be approved by the NHL? I woudl imagine they would have a strong influence as to where a team could/should end up.
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Offline rose

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Re: Penguins sold for $175M
« Reply #5 on: October 05, 2006, 10:58:17 AM »
Quote from: Broken Bones on October 05, 2006, 10:53:28 AM
When a team is moved, does it have to be approved by the NHL? I woudl imagine they would have a strong influence as to where a team could/should end up.

Yes...the League has to approve location. 
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Offline Eddie Shack

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Re: Penguins sold for $175M
« Reply #6 on: October 05, 2006, 11:10:39 AM »
Quote from: Metalhawk on October 05, 2006, 02:25:39 AM
No way in hell a team could go to Hamilton.

Wellllll - there are the NFL precedences (Al Davis moving the Raiders to LA
and then back to Oakland for example)

If enough lawsuits are launched by this guy the NHL just may give in.

I'm actually hoping that the Penquins end up in Winnipeg.
They've got a new rink out there and with the salary cap it might
be economically viable.


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Offline bassman

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Re: Penguins sold for $175M
« Reply #7 on: October 05, 2006, 11:56:38 AM »
OF course it makes sence to keep the team in Pitts... but if a new arena does not get built this guy is looking for options. One option he is apparently considering is contesting the legality of NHL territorial rights.
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Offline Hairdo

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Re: Penguins sold for $175M
« Reply #8 on: October 06, 2006, 09:49:41 PM »
If it moved to Hamilton, this would be horrible news for Ottawa..
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Offline SzuperChicky

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Re: Penguins sold for $175M
« Reply #9 on: October 06, 2006, 10:51:08 PM »
The NHL will never go to Hamilton.  It's like giving Oshawa an NHL team.

It doesn't matter if the city will support it, the fact is that you have TWO teams who won't allow it.  The Leafs won't suffer from a loss fans, their fan base is far too established ... but they wouldn't allow it for pre-cautionary reasons.  Buffalo is a team that would suffer.  So many people in Hamilton and Toronto travel to Buffalo every year.

Hamilton should worry about getting 3000 people out to an AHL game first......
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Offline Metalhawk

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Re: Penguins sold for $175M
« Reply #10 on: October 07, 2006, 01:09:50 AM »
Quote from: Hairdo on October 06, 2006, 09:49:41 PM
If it moved to Hamilton, this would be horrible news for Ottawa..

 :I don't get it:

Hamilton is a Toronto and Buffalo stronghold.
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Offline pulp

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Re: Penguins sold for $175M
« Reply #11 on: October 07, 2006, 01:21:00 AM »
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Re: Penguins sold for $175M
« Reply #12 on: October 07, 2006, 10:55:42 AM »
I would LOVE to see them in either Quebec, Winnipeg or Regina!!!
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Offline Hairdo

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Re: Penguins sold for $175M
« Reply #13 on: October 07, 2006, 06:42:44 PM »
Quote from: Metalhawk on October 07, 2006, 01:09:50 AM
:I don't get it:

Hamilton is a Toronto and Buffalo stronghold.

Toronto would have another monsterous rivlary that would overshadow the Ottawa rivalry.

Also, it would be another young team with a lto of potential for people who dont like the Habs or the Leafs to jump all over.
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Offline Metalhawk

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Re: Penguins sold for $175M
« Reply #14 on: October 07, 2006, 06:58:52 PM »
Quote from: Hairdo on October 07, 2006, 06:42:44 PM
Toronto would have another monsterous rivlary that would overshadow the Ottawa rivalry.

Also, it would be another young team with a lto of potential for people who dont like the Habs or the Leafs to jump all over.

And why exactly is this bad for Ottawa? If it gets the obnoxious Leaf fans off our asses, it's actually a good thing.
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Offline adh

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Re: Penguins sold for $175M
« Reply #15 on: October 07, 2006, 08:27:15 PM »
As much as I'd love to see them move to my beloved Winnipeg, it's not going to happen.  Even with aggressive advertising throughout Manitoba, NW Ontario, Saskatchewan, North Dakota and Minnesota by a dedicated group of folks, NHL Governors will recognize that there just isn't the juicy market -- whether it be bums in seats, TV audiences or corporate largesse -- that lies in wait in some US cities.  Even "Kitchiloo" for exmaple, would be a great way to access the GTA market.

But as Spezza says in that awful Jubilee commercial, "you can dare to dream."
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Offline Eddie Shack

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Re: Penguins sold for $175M
« Reply #16 on: October 09, 2006, 11:22:08 AM »
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Offline adh

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Re: Penguins sold for $175M
« Reply #17 on: October 11, 2006, 07:50:23 PM »
An interesting piece by Roy MacGregor in today's (11 Oct 06) Globe and Mail on page A2. 

In his column "This Country" entitled The fastest track to fame? Pony up for a sports team (and maybe move it north)  MacGregor talks about the possibility of another team near the GTA.

It is available on line (apparently to subscribers only) at: http://www.theglobeandmail.com/
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Offline rose

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Re: Penguins sold for $175M
« Reply #18 on: October 11, 2006, 08:13:54 PM »
Quote from: Metalhawk on October 07, 2006, 06:58:52 PM
And why exactly is this bad for Ottawa? If it gets the obnoxious Leaf fans off our asses, it's actually a good thing.

I'm with you, Metal.  Not too sure of the downside for Ottawa if a team moves into Hamilton.  As far as the loss of our "rivalry" with the Leafs....every team has some sort of rivalry, IMHO, with the Leafs here in Canada.
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Offline Hairdo

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Re: Penguins sold for $175M
« Reply #19 on: October 17, 2006, 03:18:04 AM »
Quote from: rose on October 11, 2006, 08:13:54 PM
I'm with you, Metal. Not too sure of the downside for Ottawa if a team moves into Hamilton. As far as the loss of our "rivalry" with the Leafs....every team has some sort of rivalry, IMHO, with the Leafs here in Canada.

The problem would be that you ugys didnt even sell out your home opener...against your biggest rival...with a team that could take a shot at the cup. Now factor in the loss of all those eastern Ontario fans who go for the Sens simply because they cant stand the Leafs, and you could be losing a lot more then just the rivalry. I mean, if the Sens were to have a few bad seasons (as they will, turnover), I could see thier fan base diminishing hugely..JMO.
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