Kukla's Korner

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Pens Sale May Be In Trouble

from KDKA,
More than a month has passed since a Connecticut real estate developer signed a letter of intent to buy the Pittsburgh Penguins. There's been no sale as of yet. KDKA Investigator Andy Sheehan has word that the deal may be in trouble. Sam Fingold won exclusive negotiating rights to the Penguins when he offered $175 million dollars to buy the hockey club. The deal has hit some major snags and tonight there's serious doubt that Fingold and the Penguins will ever make the deal.
continued added Wednesday 1:22am, from the Pittsburgh Post-Gazette,
Sticking points, including financing problems, appear to be jeopardizing Sam Fingold's attempt to buy the Penguins, and his letter of intent might expire in the next several days, sources close to the sales process said yesterday. Mr. Fingold, a Toronto native and Hartford, Conn., real estate developer, entered into the agreement July 28 for exclusive rights to negotiate a purchase agreement with the team. His offer is believed to be $175 million. One source said the two sides disagree about fundamental business points but would not elaborate.
continued

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About Kukla's Korner Hockey

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.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

Email Paul anytime at pk@kuklaskorner.com

 

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