Jul 23, 2006 11:13 pm US/Eastern
Sources: $175M Top Bid For Pens
There could be a letter of intent signed in days
by Andy Sheehan
PITTSBURGH (KDKA) ―
There could be a letter of intent signed in days for the sale of the Pittsburgh Penguins.
Connecticut real estate developer Sam Fingold appears to be the man to beat in his bid to become the next owner of the Pittsburgh Penguins.
Sources confirm that Fingold is currently the highest bidder, with his offer of $175 million to buy the hockey team.
Two other bidders – Pittsburgh native Jim Renacci and New York taxi cab financier Andrew Murstein have put in smaller bids and sources say those two have declined to bid any higher.
That would leave Boston real estate developer Larry Gottesdiener to meet or exceed Fingold's bid.
It's not clear at this point whether Gottesdiener is willing to go that high.
Gottesdiener owns land in Hartford, Connecticut and has been interested in moving a hockey team there, but the league would likely object to a Penguin move, and he said he's content to keep the team here in Pittsburgh.
Similarly, Fingold has had talks with a group in Kansas City about moving the Penguins there, but he says he prefers to keep the Penguins here if he can work out an acceptable arrangement with local and state officials on the building of a new arena.
If Fingold remains the top bidder and remains able to iron out the contractual language, a letter of intent could be signed as early as this week.
(© MMVI, CBS Broadcasting Inc. All Rights Reserved.)
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