Thursday, July 27, 2006

Fingold and two others still in bidding for Penguins

Three bidders still in running

Looks like the group with Andrew Murstein (who at one time inquired about buying our Kansas City Wizards) and his group with Mark Cuban and Dan Marino are still in the bidding for the Penguins.

Interesting quote here:

Business sense dictates that pushing the sale price closer to $200 million and working to keep the team here could be counter purposes.

It's thought that the Penguins are worth a lot more as a portable team. Forbes, for instance, most recently estimated the team's worth at $137 million. Several people close to the sale process have said anything significantly higher might reflect a value associated with a team coveted by another city.

Or perhaps the higher price is just what the market will bear at this time, regardless of where the team ends up, partly because the NHL's year-old collective bargaining agreement gives its teams a more sound financial footing.

I tend to think it's the NHL's new CBA, which is much more owner friendly -- especially for a team in a medium market like Pittsburgh.

But, one has to wonder why the Penguins are fetching $175M and the Blues were sold for $150. Perhaps Bill Laurie has no business sense and is a lousy negotiator (actually that's likely).


At 11:51 AM, Anonymous dale said...

Is KC still considered a "small" market, or have we moved into the "medium" catagory yet?


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