Pittsburgh Native Mark Cuban Offers To Invest In Penguins

Cuban Offers To Invest In Penguins

Mavericks Owner Mark Cuban, a Pittsburgh native, has “offered to join forces” with prospective Penguins Owner Jim Balsillie as an investor, according to Rob Biertempfel of the Pittsburgh TRIBUNE-REVIEW. Cuban wrote in an e-mail, “I sent him an e-mail offering any support I could to help him with the team in Pittsburgh. He sent me a nice reply. Hopefully, we can do something together.” Cuban said that Balsillie “has not yet indicated whether he will accept the offer.” Outgoing Penguins Owner Mario Lemieux said that Balsillie “did not have any partners in his bid for the team.” Cuban also revealed that he dropped out of Medallion Financial Corp. President Andrew Murstein’s bid group for the club “before the sale process reached its final stage.” Cuban: “They were investors first and fans second. The further we got in, the more concerned I got of what would happen if we won. ... As the season got closer, there was no urgency or excitement about the season. It was about negotiating tactics” (Pittsburgh TRIBUNE-REVIEW, 10/14).

HAMILTON: The HAMILTON SPECTATOR’s Andrew Dreschel reported HHC Acquisition, which purchased exclusive rights to bring an NHL team to Hamilton, Ontario’s Copps Coliseum in ’04, “is terminating its agreement” with the city. Though Balsillie, whose company is based in Hamilton, “has previously denied it and more recently evaded the question, it’s widely believed he is also the money man behind” the group. Hamilton Mayor Larry Di Ianni said, “This confirms what I suspected all along. That is, Hamilton was never a serious contender for any NHL team with this group” (HAMILTON SPECTATOR, 10/13).

BALSILLIE: In Pittsburgh, Shelly Anderson profiled Balsillie and wrote, “Fans want to know if they can trust Mr. Balsillie to keep the team in town. It turns out that he’s wondering the same thing — can he trust the promises coming from Pittsburgh?” Balsillie: “I’m full of empathy, but turn the empathy around and it’s like, what happens if I get shot in the foot? Now you’re in a whole situation with the league and the city.” Balsillie said of potential target cities for the Penguins: “Hamilton? Yeah, the [Maple] Leafs will be really supportive of that. Kansas City? I mean, come on. Now I’ve taken a 40-minute flight (to Pittsburgh) and made it two hours, and to an unproven market. They talk about Oklahoma (City). It’s like, puh-lease. And Portland? Puh-lease” (PITTSBURGH POST-GAZETTE, 10/15). The TRIBUNE-REVIEW’s Biertempfel in a profile of Balsillie noted he plays in a recreational hockey league in Waterloo, and wrote his “business acumen is matched by his passion for hockey” (Pittsburgh TRIBUNE-REVIEW, 10/15).