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Hartford Businessman To Purchase Penguins

Matthew Smith

Pittsburgh, PA (AHN) - A Hartford businessman signed a letter of intent on Friday to purchase the Pittsburgh Penguins from Hall of Famer Mario Lemieux and his ownership group.

Sam Fingold, a commercial real estate broker and longtime hockey fan, reportedly will pay $175 for the organization that filed bankruptcy nearly seven years ago.

Fingold previously said he had interest to move the team to Kansas City, but on Friday stated that he fully intends to keep the franchise in Pittsburgh.

Fingold told The AP, "As passionate hockey fans, we are excited about this opportunity to purchase the Pittsburgh Penguins. We agree with the current ownership group that the Penguins should remain in Pittsburgh, and that a new arena is crucial to the team's long-term success."

Fingold's group includes his father David and brother Michael, as well as concert promoter Michael Cohl.

In a team-issued statement, Penguins chief executive officer Ken Sawyer said, "It was encouraging to have so many groups expressing interest in the Penguins during this process, and we are delighted to have Sam Fingold's group sign a letter of intent. Sam and his family have a tremendous background in business and investments, and, just as importantly, they have hockey in their blood. We look forward to working with them to complete the purchase agreement and to achieve their goal of keeping the Penguins in Pittsburgh for the long term."

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