Prospective buyer withdraws offer for Penguins
CBC.ca is reporting that Canadian billionaire Jim Balsillie is no longer interested in becoming owner of the Pittsburgh Penguins.
“Jim Balsillie delivered a notice of termination today, and it is our understanding that he has stopped negotiating with the National Hockey League to get the necessary consent to buy the Pittsburgh Penguins,” current owner Mario Lemieux said in a news release.
This past October Balsillie — CEO of Waterloo-based Research in Motion, the maker of the BlackBerry
It’s believed that the reason Balsillie decided against continuing his bid to buy the Penguins was his “displeasure with league’s mandate to keep the team in Pittsburgh as part of the agreement.”
Speculation had it that if a new arena in Pittsburgh wasn’t built, Balsillie would move the franchise north of the border — with Hamilton as a possible destination — something that the NHL does not want to see happen.
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