Kukla's Korner Hockey
by Paul on 09/15/06 at 04:56 PM ET
Research In Motion Ltd. co-chief executive officer Jim Balsillie this morning denied a Pittsburgh Post-Gazette article that says he wants to buy the Pittsburgh Penguins hockey team. The Post-Gazette quoted unnamed sources familiar with the sale process as saying Balsillie is the front runner to buy the team from the current owners, who have been soliciting bids.continued added 4:32pm, Now this from the CP via the Toronto Star,
A source close to the team also confirmed to The Canadian Press on Friday that Balsillie, whose stock in the technology company he helped build is worth about $1 billion, was the front-runner and that "it's going in the right direction." Balsillie, who declined comment to the Pittsburgh newspaper, was revealed as the secretive Canadian bidder who nearly signed a letter of intent with the Penguins in mid-July, the Post-Gazette reported. He apparently wanted to move the team to Hamilton, Ont., and backed out when he realized it wouldn't be simple to do so. Now he's back in the hunt after Hartford real-estate developer Sam Fingold failed in reaching a purchase agreement following his letter of intent in late July. It's not clear what Balsillie intends to do with the Penguins. The NHL has not showed any interest in seeing the Penguins move.more
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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.
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