Canada's Newest NHL Team: Waterloo Penguins

[GreatTallNorth2]

You heard it hear first: The Penguins will move to a brand new downtown arena in Kitchener and become Canada's newest NHL team.

OK, that's speculation, but could it not happen? The frontrunner to buy the team is RIM's Jim Basaille (not sure on spelling). He has tons of cash and is reported to now be the frontrunner. Hamilton is too close to Toronto and Buffalo, but Kitchener is further from both. It is spack dab in the middle of a major population area with Hamilton, London, Mississauga, Brantford, etc. very close. The population of this area is bigger than the whole province of Alberta. Waterloo Region itself is growing like crazy. Could this happen and doesn't it make more sense then going to smelly Hamilton? Sure they have an arena, but it is already out of date.

[Hardhatdan]

It'll go to Hamilton.

[SteelTown]

Not Waterloo, Copps Coliseum. Jim Basaille wife is from Hamilton and she's a big supporter.

Also this is at the same time when Copps (Sep 23) will be hosting an NHL preseason with Buffalo Sabres with guess who.......Pittsburgh Pengiuns.

Pittsburgh aka Steelcity
Hamilton aka Steeltown

[SteelTown]

Canadian top bidder in hunt for Penguins

Friday, September 15, 2006
By Shelly Anderson, Pittsburgh Post-Gazette

If you are among the millions of people who can't live without one of the ubiquitous wireless BlackBerry devices, then you know why Jim Balsillie is a multimillionaire.

Balsillie, chairman and co-CEO of Research in Motion, the company based in Waterloo, Ontario, that makes the BlackBerry, has emerged as the latest frontrunner to buy the Penguins, two sources with knowledge of the sale process said yesterday.

His second pursuit of the hockey team is the latest development in what has been a roller-coaster ride the past several months as fans have waited to see who buys the club and whether the new owner intends to keep it in Pittsburgh.

Balsillie, who has declined comment, was the secretive Canadian bidder who nearly signed a letter of intent with the Penguins in mid-July. He backed out when he realized it wouldn't be simple to move the team. It's believed he wanted to relocate it to Hamilton, Ontario, which is near Waterloo.

After that, four other prospective owners staged a bidding war. Hartford real-estate developer Sam Fingold prevailed and signed a letter of intent in late July, but was not able to reach a purchase agreement with the Penguins, who are owned in part by Hall of Fame player Mario Lemieux.

Fingold and two other bidders -- New York businessman Andrew Murstein and Ohio businessman and Ringgold High School graduate Jim Renacci -- remain involved and interested, but Balsillie has moved ahead of them.

His earlier offer was in the range of $175 million to $180 million.

It's not known why Balsillie re-emerged or what his intentions would be if he is successful in buying the Penguins.

A new owner would be bound to the team's arrangement with Isle of Capri Gaming, which will donate $290 million toward a new arena if it is awarded the city's slots license later this year.

If Forest City/Harrah's or PITG Gaming land the city's slots license, there is a proposed "Plan B" for arena funding that draws on slots and state money as well as contributions from the Penguins.

The team's lease at Mellon Arena expires in June, and Penguins officials maintain they need a new venue to be viable in Pittsburgh.

Under NHL Bylaw 36, the league can block a move to another city if there is a plan to make a team viable. The league also must approve any sale.

An attempt to relocate a team to Hamilton could be met with strong resistance from officials of teams in nearby Buffalo and Toronto.

It seems clear that Balsillie, a native of Peterborough, is entrenched in southern Ontario.

According to RIM's Web site, Balsillie has been the chairman and co-CEO since 1992 and is involved in several community and charitable projects. He's also a sports enthusiast who plays hockey and golf and competes in triathlons.

Balsillie joined RIM following jobs with Prudential Bache Securities, Ernst & Young, and Southerland Schultz Inc. He has a bachelor's degree from the University of Toronto and an MBA from Harvard.

The popularity of BlackBerrys has fueled RIM's explosive growth. The company posted profits of nearly $130 million in its fiscal first quarter that ended in June, up more than six-fold from one previous year on sales that rose more than 9 percent to $613.1 million. In the just-ended quarter, RIM said it expects to report profits to be higher and for sales to fall in the $620 million to $650 million range.

It also expects to have added about 700,000 subscribers, pushing the number of BlackBerry customers to more than six million.

RIM got out of a jam last year when it settled for $612.5 million with a Virginia company that claimed the BlackBerry infringed on its patents. A judge had threatened to suspend BlackBerry service in the United States.

At the time, Balsillie said of the settlement, "There's no question we took one for the team."

[vid]

I'm still waiting for my Thunder Bay Lightning to come back.

[RWin]

Won't Toronto want a team now too?

[SHOFEAR]

Originally Posted by RWin

Won't Toronto want a team now too?

Would we be able to count to parallel cupless steaks as one gigantic one?

[SteelTown]

Report says RIM owner after Pens

The chairman of Waterloo-based RIM, the makers of the BlackBerry, denied yesterday a published report that he was now the front-runner to buy the Pittsburgh Penguins.

The Pittsburgh Post-Gazette, citing sources with knowledge of the sale, reported yesterday that Canadian Jim Balsillie, chairman and co-CEO of Research in Motion, has emerged as the top candidate to buy the NHL team from Hall of Famer Mario Lemieux.

But Balsillie denied it when the Waterloo Region Record asked.

“No, it’s not true,” he said.

Asked if he was involved or planning to be involved in another way with the Penguins, Balsillie replied: “I don’t comment on speculation.”

A source close to the team told The Canadian Press yesterday that Balsillie was in talks with the Pens.

Balsillie, said the Post-Gazette, was revealed as the secretive Canadian bidder who nearly signed a letter of intent with the team in July, the paper said. He apparently wanted to move the team to Hamilton, and backed out when he realized it wouldn’t be easy.

The Penguins play the Sabres in Hamilton next Saturday night.
---------------------------------

I wonder if all of this is being hyped up for a possible announcement to be made well the Penguins play at Copps next Saturday. Because Jim Balsillie has kept his name secret about wanting an NHL team for at least 5 years, he tried to get Ottawa to relocate in to Hamilton but now all of a sudden his name is being revealed.

[SteelTown]

Potential Penguins' move on ice

By Rob Biertempfel and Andrew Conte
TRIBUNE-REVIEW
Saturday, September 16, 2006

The Penguins are scheduled to play a preseason game next week in Hamilton, Ont., and some people fear that game could be the team's debut on its future home ice.

But many residents of Hamilton -- along with a Canadian multimillionaire who reportedly would buy the Penguins and move them north -- do not believe so.

"As far as this community is concerned, I think they've all but given up on the (National Hockey League)," Hamilton city councilman Terry Whitehead said Friday. "I have no evidence that we're any closer today than we've been at any time during our attempts to get an NHL team here."

Jim Balsillie, CEO of Research In Motion, makers of BlackBerry wireless communication devices, told a Canadian newspaper yesterday he has no plan to buy the Penguins, despite being named as a likely buyer of the team that is for sale.

The Record of Waterloo Region, Ontario, reported that Balsillie said, "No, it's not true," when shown a published report stating he was the new front-runner in the bidding war for the team.

Reached by phone at his home, Balsillie declined to comment to the Pittsburgh Tribune-Review. A Penguins spokesman also declined to comment on the sales process.

Balsillie is believed to have been part of a covert group of Canadian investors which mulled a bid for the Penguins in July but backed out.

No matter who buys the Penguins, Allegheny County Chief Executive Dan Onorato said the city-county Sports & Exhibition Authority is prepared to negotiate lease terms for a new arena. But a new owner set on moving the team to another city could simply refuse to participate in a backup plan to pay for an arena, he said.

Under one plan, Isle of Capri Casinos would pay $290 million for an arena if it wins a slots license for Pittsburgh. But under the backup plan, the team would have to pay $8.5 million up front, and then $2.9 million a year, while forgoing $1.1 million a year in naming rights.

"That is definitely a concern of ours, but we're trying to operate in good faith," Onorato said. "We made it very clear ,whoever buys this team better be prepared to sign a long-term lease to keep the team in Pittsburgh."

The NHL wants to keep the Penguins in Pittsburgh, deputy commissioner Bill Daly said yesterday. He denied a rumor that Balsillie met this week with league commissioner Gary Bettman.

"If a viable plan for a new arena materializes, we would not recommend approval of a proposal to relocate the franchise outside of Pittsburgh," Daly said.

If an NHL franchise would relocate to Hamilton, the team would have to pay territorial rights fees to the Toronto Maple Leafs and Buffalo Sabres. In 1997, Hamilton officials estimated those fees could be $75 million.

Several sources have linked Balsillie to HHC Acquisitions Corp., a group of businessmen with exclusive rights to land an NHL franchise for Copps Arena.

HHC has made attempts to buy the Ottawa Senators and Buffalo Sabres and move them to Hamilton.

[scumtoes]

a team in hamilton doesn't make any sense to me. leaf nation is to close and would the die hard leaf fans in hamilton support a new NHL team?

[SHOFEAR]

I think we will see Houston, OKC, Las Vegas, Milwaukee or Cleveland etc before we see a team in Hamilton or Winnipeg.

[vid]

Houston? Really? They don't even know what hockey is.

[SHOFEAR]

Originally Posted by vid

Houston? Really? They don't even know what hockey is.

Yeah, and that little city down the road, Dallas or something like that, what a flop it's been there.

[newflyer]

Yeah, and that little city down the road, Dallas or something like that, what a flop it's been there.

They lost more than enough money before the cap. Not exactly a success, although most teams lost money before the cap. The NHL was a real mess. The reality is the WNBA gets much higher TV ratings that the NHL in most US markets, more so in Texas. ... but so does bowling and beach volleyball.

[vid]

Houston and Dallas are like Montreal and Toronto. Both completely differnt democraphics, and almost 500miles apart.

[SHOFEAR]

There is enough people and money to make it work. Regardless it's one of a handfull of potential locations, some better than others. Isn't OKC pretty much finishing up a state of the art arena and seriously trying to grab an NHL team?

[SteelTown]

You don't think Hamilton has enough people and money to make it work? Millions live in within Hamilton's reach. Jim Balsillie is a billionaire. Arena already built, understand it's 20 years old but at least it'll be cheaper to renovate it than rebuilding a new one.

Hamilton will work better than Houston, OKC and Las Vegas. I wouldn't mind seeing Milwaukee and Cleveland though, but they'll need a rich guy to get a team whereas with Hamilton it does.

I wouldn't be surprised if Ron Joyce is somehow behind this too.

[newflyer]

Hamilton will not get an NHL team for 3 reasons,

1) Toronto blocks it
2) Buffalo blocks it
3) Copps Colliseum is out of date compared to the modern NHL areas.

Winnipeg is much closer to being a viable NHL market as it doesn't infringe on any other NHL market and it has a new state of the art arena. It is the heart of a very hockey hungry market. Wiether its the Pens or another team I expect Winnipeg to see a revival of the Jets within the next 5 to 10 years.

[SteelTown]

Originally Posted by newflyer

Hamilton will not get an NHL team for 3 reasons,

1) Toronto blocks it
2) Buffalo blocks it

If an NHL franchise would relocate to Hamilton, the team would have to pay territorial rights fees to the Toronto Maple Leafs and Buffalo Sabres. In 1997, Hamilton officials estimated those fees could be $75 million. Remember Jim Balsillie is a billionaire.

Montreal and Boston surely didn't block Ottawa from getting the Ottawa Senators.

Originally Posted by newflyer

3) Copps Colliseum is out of date compared to the modern NHL areas.

Copps Coliseum was solely built for an NHL team so when the designers made Copps it kept that in mind so it could be expanded in the future, that's why the roof can easily come off and expand for more corporate boxes and a new media centre. Now did the designers of the MTS Centre do the same so it could add more seats?

God it gets tiring having to repeat this kind of stuff over and over and over and over lol.

[vid]

'Now did the designers of the MTS Centre do the same so it could add more seats?'

The MTS Centres south-facing windows face North.