Breaking Sports

Friday, June 10, 2005

nhl- Penguins sale nearly Finished

from Pittsburgh Business Times, An agreement is near to sell the Pittsburgh Penguins to a group of West Coast investors who plan to keep the NHL team in town, according to various reports.
Financial details of the agreement were not disclosed in the published reports, but the West Coast group is reportedly led by William "Boots" Del Biaggio, a San Jose, Calif. businessman.
Mr. Del Biaggio is said to be a friend of Penguins owner and star player Mario Lemieux and one of his co-owners with the Omaha Lancers of the United States Hockey League. He also holds a minority interest in NHL's San Jose Sharks.
Mr. Lemieux, the hockey team's primary owner since it emerged from bankruptcy in 1999, will hold onto a reduced share of the franchise, according to the reports....more...