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Pens deal likely today

525 Views 0 Replies 1 Participant Last post by  truebluefan
The Penguins' owners are expected to announce today the sale of the team to Canadian millionaire Jim Balsillie, sources close to the negotiations said Wednesday.

Balsillie, who heads the company that makes BlackBerry wireless communication devices, is close to signing a purchase agreement to buy the hockey team for about $175 million, sources said.

It's likely that Balsillie will keep the Penguins in Pittsburgh as long as the team has a viable plan for a new arena. But it's uncertain what kind of lease terms he would want from the city-county Sports & Exhibition Authority.

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