N.Y. Exec Latest To Join List Of Penguins Suitors

Murstein Reportedly Showing Interest In Acquiring Penguins

N.Y.-based Medallion Financial Corp. President Andrew Murstein, whose company finances N.Y. taxi cab licenses, has “emerged as the latest bidder” for the Penguins, according to Rick Westhead of the TORONTO STAR. Sources said that Murstein has been in negotiations to buy the Penguins and “has considered moving them to Houston if the Penguins don’t get a new arena.” But Westhead notes any deal for the team “would be on his own and not involve Medallion.” Murstein has previously “bid for, or weighed pursuing, franchises including” the Reds, Brewers, Spurs, Mighty Ducks and MLS Wizards. Other potential buyers for the Penguins are Ohio business exec and AFL Destroyers co-Owner Jim Renacci, Massachusetts-based real estate exec Lawrence Gottensdiener and Toronto-based real estate developers David and Sam Fingold. It is “likely that it will take upwards of [US$140M] to buy the team” (TORONTO STAR, 6/16).