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ChiefsCountry
05-08-2006, 01:01 PM
Man is KC going to be whored to death by teams trying to get new arenas.

http://www.thestar.com/NASApp/cs/ContentServer?pagename=thestar/Layout/Article_Type1&c=Article&cid=1147039809802&call_pageid=968332188492

Torontonian may move Penguins
Rick Westhead
Toronto Star

A Toronto commercial real estate magnate who once tried to bring an NBA team to the city has surfaced as a potential bidder for the NHL's Pittsburgh Penguins, and plans to move the franchise to Kansas City if an agreement for a new hockey rink in Pittsburgh isn't completed.

David Fingold and his son Sam have already reviewed the Penguins' financial books and are poised to make a bid to buy the struggling team, the Star has learned.

The elder Fingold, who has spearheaded a real estate development called The Chedington on Bayview Ave., was part of a group alongside basketball hall of famer Wilt Chamberlain that mounted a failed attempt in 1988 to bring an expansion basketball team to Toronto.

As the NHL moves into the playoff mode, after the first season following the league's season-long lockout, investment bankers who specialize in the pro sports business say that, strong attendance figures and TV ratings aside, at least a half-dozen franchises are up for sale.

While the owners of teams such as the Atlanta Thrashers, Nashville Predators and Phoenix Coyotes would certainly entertain buyout offers, the Penguins may present the most compelling package for interested parties.

The Penguins joined the NHL as an expansion franchise in 1967 and, thanks to the emergence of Mario Lemieux as a star player in the mid-1980s, won back-to-back Stanley Cup championships in 1990-91 and 1991-92. Even though the team struggled in subsequent seasons in October, 1998, the Penguins franchise declared bankruptcy for the second time the club has a promising future thanks to Sidney Crosby and other coveted young prospects.

"What we would get with the Penguins would be an affordable franchise and a portable one," Sam Fingold said in an interview. "We think this could be a great investment."

Neither Fingold would say whether their family has other financial partners.

"We'd be doing this mostly with family money," Sam Fingold said.

One sports investment banker said that prospective bidders like the Fingolds are vexed about what to offer for the Penguins, who are now owned by Lemieux. The former star player acquired the team because he was one of its biggest creditors when it filed for bankruptcy protection.

"If you're buying the team to keep it in Pittsburgh, you're probably looking at paying $120-$130 million (all figures U.S.)," the banker said. "But if you're buying them to move them to a different city, where you're definitely going to be in a better building with a better lease, maybe you're looking at closer to $150 million."

The Penguins' future in Pittsburgh hinges on which company is awarded a slot-gaming licence by the state government.

The Penguins have partnered with Isle of Capri Casinos Inc., one of the world's biggest operators of riverboat and dockside casinos that's one of the companies pursuing a licence. The Biloxi, Miss., gaming company wants to build a $250 million casino replete with 3,000 slot machines and has also pledged to pay $290 million toward a new arena for the Penguins, who currently play in the NHL's oldest rink, 45-year-old Mellon Arena.

The Penguins can leave Pittsburgh in June, 2007, when their current lease expires.

Isle of Capri has already secured financing for the arena and casino from Toronto's CIBC World Markets, the Pittsburgh Post-Gazette has reported. But several other groups are also pursuing the slots licence and don't have pacts with the Penguins. The state Gaming Control Board is expected to issue the licence later this year or in early 2007.

If one of the Isle of Capri's competitors wins the license, that may free up the team to move to a more attractive market such as Kansas City, Sam Fingold said.

Fingold confirmed that he and his father would consider moving the club to Kansas City.

Kansas City hasn't had an NHL team since the Scouts, an expansion franchise, moved to Denver in 1976 to become the Colorado Rockies.

But Kansas City has recently completed construction on the new 18,500-seat Sprint Center, a $276 million arena that needs a tenant like an NHL team to pay down its debt.

Coogs
05-08-2006, 01:03 PM
But Kansas City has recently completed construction on the new 18,500-seat Sprint Center, a $276 million arena that needs a tenant like an NHL team to pay down its debt.

They're done?

Cochise
05-08-2006, 01:04 PM
Frickin' sweet.

cookster50
05-08-2006, 01:08 PM
They're done?
No, the author is an idiot.

Fish
05-08-2006, 01:26 PM
Frickin' sweet.

I second that........

Sully
05-08-2006, 01:32 PM
Sounds awesome.
We just need to hope for the Isle of Capri Casino thing to fail in Pennsylvania.

StcChief
05-08-2006, 01:38 PM
Could KC support Basketball, the brigade, Hockey in winter?

Valiant
05-08-2006, 01:40 PM
Could KC support Basketball, the brigade, Hockey in winter?

KC would not support basketball period...

Spicy McHaggis
05-08-2006, 01:41 PM
http://cdn.nhl.com/photos/mugs/8471675.jpg

ChiefsCountry
05-08-2006, 02:11 PM
KC would not support basketball period...

I disagree with that. Right team in Kansas City then I think they could, big regionally void for the NBA in the central part of the USA.

Brock
05-08-2006, 02:15 PM
KC would not support basketball period...

BS

Moooo
05-08-2006, 02:16 PM
This is better than sweet. If this goes through we will have the honor of watching Crosby mature into the amazing athlete he will probably become...

Penguins are in the crapper, but I really do forsee them trying to get better.

Moooo

Fish
05-08-2006, 02:39 PM
KC would not support basketball period...

What could you possibly base that decision on??

58-4ever
05-08-2006, 02:41 PM
If OKC can make the Hornets work in a minutes' notice, KC can definitely support the NBA.

tk13
05-08-2006, 02:55 PM
If OKC can make the Hornets work in a minutes' notice, KC can definitely support the NBA.
Yeah but there was no competition in OKC. A basketball or hockey team will have to go straight up against the Chiefs. Actually with the way they've played the last decade, maybe the Chiefs would have to go up against a basketball or hockey team. I think they'd definitely both draw around playoff time though, considering the entire city has seen two total playoff victories at home in the last 20 years. Playoff hockey would probably be a great event in KC.

The Penguins would probably be about as good of a team as you could bring into the city though. Sidney Crosby has the potential to be the star athlete of KC following George Brett and DT. They've also got another kid named Evgeni Malkin in Russia who could be coming over to help Crosby out... hopefully. They both are probably going to be stars. Malkin looked great in the Olympics.

Sully
05-08-2006, 02:57 PM
They have a young goalie, as well, who I hope will be good. There are actual Pens fans on here somewhere that would know better than I.

tk13
05-08-2006, 03:02 PM
They have a young goalie, as well, who I hope will be good. There are actual Pens fans on here somewhere that would know better than I.
Marc Andre Fleury... he was a #1 pick... he's not turned into a superstar goalie yet but he's only 21 and has plenty of room to develop.

Blitz
05-08-2006, 03:20 PM
KC won't support a basketball team? why because of the huge hick population

58-4ever
05-08-2006, 03:22 PM
KC won't support a basketball team? why because of the huge hick population

your and idiot. Mostly because I don't really know what you're trying to say.

ChiefsCountry
05-08-2006, 03:26 PM
your and idiot. Mostly because I don't really know what you're trying to say.

KC is not black enough I think is what he is saying.

Spicy McHaggis
05-08-2006, 03:31 PM
KC is not black enough I think is what he is saying.

And Oklahoma is?

58-4ever
05-08-2006, 03:31 PM
KC is not black enough I think is what he is saying.

It's Africa compared to OKC.

ChiefsCountry
05-08-2006, 03:33 PM
Hey I didnt say it, I just was explaining it.

Cochise
05-08-2006, 03:35 PM
Bringing in the NBA would at least create some jobs in the law enforcement community.

58-4ever
05-08-2006, 03:39 PM
Bringing in the NBA would at least create some jobs in the law enforcement community.

and the strip club community.

Tribal Warfare
05-08-2006, 03:46 PM
KC won't support a basketball team? why because of the huge hick population


One state comes to mind when it comes to basketball reverence Indiana .one can't get more "whiteboy" than that

RockChalk
05-08-2006, 03:47 PM
Sounds awesome.
We just need to hope for the Isle of Capri Casino thing to fail in Pennsylvania.

I really can't imagine any state supporting anything related to the Isle of Capri. That place is where gamblers go to die.

jidar
05-08-2006, 03:57 PM
The Jayhawks are huge in KC, so it's not like the area is just totally opposed to the sport.

I'd like either NHL, NBA or both. I have a preference for the NBA, but I'll take either.

SoCalBronco
05-08-2006, 07:33 PM
NOOOOOOOOO. This isnt fair. I know Isle of Capri isnt going to win the license, but hopefully "Plan B" works out. Right now the Penguins and the Station Square group and playing cat and mouse on this thing. The Penguins want Harrah's to commit to the full 7.5 million a year (as Don Barden's group has), and Station Square/Harrah's want the Penguins to commit to Plan B, thereby taking the rug out from IOC's proposal.

I am going to be fuming if the Penguins go to KC. Nothing personal against you folks, but this club is going to win multiple Stanley Cups in the next few years with Crosby, Malkin, Fleury, Whitney, Welch and the upcoming no. 2 overall pick. You guys simply havent done anything to deserve that falling into your lap. You can have any other team.

jynni
05-08-2006, 07:37 PM
You guys simply havent done anything to deserve that falling into your lap. You can have any other team.
We have the Royals. And Carl Peterson. I think that's enough to warrant at least one team with a shot at something.

Halfcan
05-08-2006, 07:37 PM
What could you possibly base that decision on??

Must have forgot about the Kings. If they ever had any talent they would still be here.

SNR
05-08-2006, 07:39 PM
NOOOOOOOOO. This isnt fair. I know Isle of Capri isnt going to win the license, but hopefully "Plan B" works out. Right now the Penguins and the Station Square group and playing cat and mouse on this thing. The Penguins want Harrah's to commit to the full 7.5 million a year (as Don Barden's group has), and Station Square/Harrah's want the Penguins to commit to Plan B, thereby taking the rug out from IOC's proposal.

I am going to be fuming if the Penguins go to KC. Nothing personal against you folks, but this club is going to win multiple Stanley Cups in the next few years with Crosby, Malkin, Fleury, Whitney, Welch and the upcoming no. 2 overall pick. You guys simply havent done anything to deserve that falling into your lap. You can have any other team.Says you. Your only shitty team is the Rockies and they don't compare at all to the Royals in terms of shittiness.

We deserve this, and you can go suck it :)

SoCalBronco
05-08-2006, 07:42 PM
We have the Royals. And Carl Peterson. I think that's enough to warrant at least one team with a shot at something.

Thats true, I just couldnt bear to see them leave Pittsburgh (even though I have never been there and have no ties to the city). Its hard to see that organization not in Pittsburgh, I just cant imagine it. And this team is going to be SCARY good so soon. Crosby and Malkin will be another Lemieux and Francis combination. And if they can get a Phil Kessel in the draft to move to the wing who's a pure scorer and can close on Crosby and Malkin's passes, they'll just be raping the whole league. It just wouldnt be right to see it in KC. I'd still root for them, they have always been my team even though I live in LA, but it just would feel wrong to see them move from Pittsburgh, when they are this close to repeating the glory years of the early 90s.

SoCalBronco
05-08-2006, 07:43 PM
Says you. Your only shitty team is the Rockies and they don't compare at all to the Royals in terms of shittiness.

We deserve this, and you can go suck it :)

What are you talking about. I hate the Rockies. The only Denver based team that I like are the Broncos.

SNR
05-08-2006, 07:48 PM
What are you talking about. I hate the Rockies. The only Denver based team that I like are the Broncos.Then what are you complaining about? Who do you root for? LA teams? SD teams?

SoCalBronco
05-08-2006, 07:53 PM
Then what are you complaining about? Who do you root for? LA teams? SD teams?

I do not root for LA teams as a rule. Its irrational to me. Locality can never play even a small role in deciding my teams. In addition, I cannot stand the fans here so I dont want to be associated with them. Even on an individual team by team basis, I dont find any of the local teams to have any intrinsic value to me. There is nothing special about them that stands out to me. Ive never understood why people automatically flock to the local team (besides the practical reasons related to going to the game or getting better coverage since its local). Its like telling me if I was born and raised in Baltimore, I would somehow be a Orioles fan...absurd! I would root for the exact same teams I do now because there is something intrinsically valuable about them to me, they stand out as being more special than any other teams to me, not just because of the pure arbitrariness of location. I'd like to think that regardless of where I lived, the Denver Broncos, University of Miami Hurricanes, Pittsburgh Penguins and Chicago White Sox (I dont care much for the NBA) would be my team no matter what. Its not based on locality, its based on teams that you are naturally attracted to.

Locality is completely irrelevant and is an impermissable factor to consider (at least for me) IMO.