Prospective Penguins Owner Mario Lemieux "is looking
for more money to fund his purchase" of the team and has
contacted Broadcast.com Founder Mark Cuban, according to Ann
Belser of the PITTSBURGH POST-GAZETTE. Though Lemieux "is
legally required to have only" $50M available to close the
deal and has $52M in escrow, he "is trying to raise new
capital for the team" and "would like to have" $65M. This
amount "would cover the team's expected losses through 2004,
ensuring the team's financial viability." Lemieux's
attorney Doug Campbell noted that he "has also contacted"
current team owner Roger Marino. Meanwhile, Pittsburgh
Mayor Tom Murphy met with Allegheny County Commissioner Bob
Cranmer and several other public officials yesterday
regarding Cranmer's objections to a deal reached in June
involving county financial concessions related to the sale
of the team and its lease at Civic Arena. After the
meeting, "all parties agreed progress had been made but
wouldn't divulge many specifics" (PITTSBURGH POST-GAZETTE,
8/10). In Pittsburgh, Kris Mamula writes that "failure to
satisfy Cranmer's concerns could doom" Lemieux's purchase of
the Penguins (Pittsburgh TRIBUNE-REVIEW, 8/10).
