So much for the Waterloo Penguins, Balsillie backs out of Penguins deal

[Salo]

Canadian businessman Jim Balsillie has withdrawn his offer to buy the Pittsburgh Penguins, current owner Mario Lemieux said Friday.
Balsillie, whose company makes the BlackBerry wireless messaging device, had signed an agreement on Oct. 5 to buy the Penguins from Lemieux's group for about $175 million. The deal was expected to be finalized any day.
But talks between Balsillie and the NHL, which must approve the purchase, broke down and Balsillie issued a notice of termination Friday, the team said.
"We were hopeful that this was going to come to a conclusion any day," Penguins CEO Ken Sawyer said Friday night during a news conference at the arena.
"All we know is that he and the league couldn't come to an agreement and he chose to give us a notice. The price and the terms, there was no problem there."
Balsillie had said he was committed to keeping the team in Pittsburgh -- a condition the NHL had all but mandated as long as a new arena is built.
On Friday, NHL commissioner Gary Bettman repeated warnings that the Penguins' future in Pittsburgh is uncertain if the Isle of Capri casino chain is not awarded a license to build a slots parlor in the city.

[LLXC]

With the way Pittsburg is playing, and with their young stars, I wish I had an extra $175 lying around.

[Salo]

Add Toronto businessman Frank D'Angelo and a billionaire partner, Dr. Barry Sherman, to the list of prospective buyers for the Penguins. D'Angelo told Canadian Press yesterday that he and Sherman are considering making an offer for the franchise and hope to meet with Penguins CEO Ken Sawyer this week. He also was adamant that he would keep the team in Pittsburgh, regardless of whether Isle of Capri, which has pledged $290 million to an arena if it gets the license to operate a slots parlor here, gets that license. "We have absolutely no intention of moving the team," D'Angelo told CP.