The Kansas City Penguins ?

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The People's DJ
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The Kansas City Penguins ?

Post by The People's DJ »

Penguins declare impasse in arena talks
Will pursue other offers aggressively, letter says

Monday, March 05, 2007
By Mark Belko, Pittsburgh Post-Gazette
http://www.postgazette.com/pg/07064/767020-100.stm

The Penguins have declared an impasse in negotiations with government officials over construction of a new arena and will aggressively explore relocating the team to a new city.

Penguins co-owners Mario Lemieux and Ron Burkle notified Gov. Ed Rendell, Allegheny County Chief Executive Dan Onorato and Pittsburgh Mayor Luke Ravenstahl about their decision in a letter today.

The team is declaring an impasse even though it has agreed to pay $3.6 million a year in rent, plus another $400,000 a year in capital expenses, for an annual contribution of $4 million, for a new arena.

They also have agreed to pay $500,000 for a parking garage to be built as part of the arena complex.

Despite that, the parties have been unable to reach an agreement.

"Unfortunately, we still don't have a deal and are faced with mounting uncertainty that an agreement can be reached in a time frame that is realistic for our organization," the letter states. "Therefore, we have no choice but to declare an impasse and to notify NHL Commissioner Gary Bettman that we will aggressively explore relocation."
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Post by weaver »

There was a time when sports teams built their own arenas.
Adios, and good riddance.
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Post by Mark Hallburn »

You can blame Walter O'Malley for starting that trend... When New York wouldn't build him a ballpark he went to L.A. where he built Dodger Stadium with a LOT of help from L.A.
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Kansas City Penguins?

Post by Greg Goodfellow »

Four million a year for how many years? How much would this proposed complex cost? Do the Penguins sell out Mellon Arena on a regular basis?

At least they're not asking the city and/or state to pony up all the funds. I'm not a hockey fan, so I don't have a dog in this fight. Hey, if Pittsburgh loses their team, they can just hit the interstate and go see the Wheeling Nailers in the ECHL!
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Re: Kansas City Penguins?

Post by The People's DJ »

Greg Goodfellow wrote:Four million a year for how many years?
30 years
How much would this proposed complex cost?
Not sure. See the Pen had a deal worked out with the Isle of Capri Casinos. If the Isle would have won the casino license in Pittsburgh, they would have built a new home for the Pens. The Isle lost. So...Plan B was announce. This,as the letter states, wasn't working. But heres the interesting thing:
In their letter, team owners said appeals filed by Isle of Capri Casinos Inc. and Forest City Enterprises over the Pittsburgh casino license Friday "cause us great concern." Both casino license winner Don Barden and Forest City had pledged $7.5 million a year toward the arena, but that major funding source is now tied up in litigation before the state Supreme Court.
Its a Power play by the Pens owners to get this shit worked out ASAP.
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Post by Ace Purple »

AP: The Pittsburgh Penguins reached a financing deal for a new arena that will keep the NHL team in the city where it has played since 1967.
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