Wednesday, August 30, 2006

Fingold purchase of Pens may be in jeopardy

I tell you. Writing this blog and following the Penguins situation sure does keep one busy.

Now, the latest twist is that Sam Fingold's 30-day exclusive negotiating period may come to an end without a deal.

How is this significant to KC hockey fans?

Fingold is AEG/NHL21/KC's only hope for an NHL team in KC for the opening of Sprint Center. And, that hope is slim since the NHL has said they will not allow the Penguins to move.

Two stories in Pittsburgh today.
Is Penguins suitor looking for cash?

Unspecified issues remain in $175M sale of Penguins

Could one of those "unspecified issues" be that Fingold's intention all along was to move to the team to KC -- that Fingold saying he would work to keep the Pens in Pittsburgh was just lip-service?

That's what the Pittsburgh Trib seems to think.

A possible hurdle could be whether Fingold would be allowed to move the team. He has said he wants to keep the Penguins in Pittsburgh, but talked previously about relocating the team to Kansas City if Pittsburgh does not get a new arena.

"As far as we're concerned, we're negotiating to buy the land for a new arena and we're willing and ready to negotiate a lease," Onorato said.

And, perhaps Fingold doesn't want to negotiate a lease until he purchases the team. Well, Penguin ownership, there are other suitors perhaps it is time to move on.

The 30-day period ended over the weekend, and it appears the Penguins are the ones ready to pull out of negotiations.

The NHL must approve relocation. League officials have said they prefer to keep the Penguins here as long as the team does not have to keep playing at aging Mellon Arena. NHL Bylaw 36 states that the league has a right to block the relocation of a team as long as it is financially viable, or its owners are taking steps to make it so.

"They know (the arena) is real," Onorato said. "We're going to be able to continue to make a very strong case to keep the franchise here because of what we're doing on a multipurpose arena."

You know, as an outsider, this deal stunk from the beginning. Dave Checketts purchases the Blues for $150M when the Blues have a slightly larger market and a beautiful, new building with a plethora of luxury suites in which to play. I've been to nearly 10 NHL arenas and Savvis Center (or, whatever it is going to be called) is in my top 2 (I like Phillips Arena in Atlanta a bit better).

The Penguins are worth $25M more...just six to eight months later?

By the way, this story is very significant to KC sports fans. What did the Star have today?



At 8:49 AM, Anonymous Anonymous said...

Perhaps the Star is waiting to see what you have to say first...

It's less work for them.

Good job!

At 1:58 PM, Anonymous drew murphy said...

That is generally the Star's approach. When the whole Royals GM thing was going down, what was Whitlock writing about? The incredibly relevant NBA playoffs.

At 3:04 PM, Blogger Max said...

Did you call in 810 yesterday with this? Someone did and I'm sure it caught Kietzman off guard (there's a league for hockey?!?!?) They seemed to poo-poo the idea of the Pens coming here and even indicated they didn't want them to because of the Pens history.

At 9:57 PM, Blogger KCHockeyBuzz said...

I was out of town yesterday. I actually do have a real job that takes me out of town periodically.

Penguins history? They've won two Stanley Cups in the last 15 years.

A KC sports team hasn't won squat since KU won the National Championship in '88.


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