Skip to main content

Penguins say Canadian billionaire Jim Balsillie has withdrawn bid to buy team

Penguins owner Mario Lemieux says the team will re-evaluate its situation after a decision is made on the Pittsburgh gaming licence. Isle of Capri Casinos Inc. has promised to build a US$290-million arena to replace 45-year-old Mellon Arena - at no cost to taxpayers or the team - if it's awarded the licence.

Balsillie is co-chief executive officer of Canada's Research In Motion Ltd (TSX:RIM). He signed an agreement to buy the team in October.

The purchase price was reported at some $175 million.

TOP HEADLINES

USATSI_17728063
Play

NHL Off-Season Outlook: Anaheim Ducks

The Anaheim Ducks have a decent core, but there's lots of tinkering left on the horizon. They need improvement from within, as well as a boost from some new faces, if they’re going to move up the Pacific standings.

Riikka Sallinen

Riikka Sallinen's Hall of Fame Career to be Honored

Riikka Sallinen had one of the greatest careers by a European women's hockey player and is one of the most decorated Finns of all time. Her Hall of Fame resume speaks for itself.

Jack Campbell

Could the Devils Look to Acquire Jack Campbell?

There's speculation the New Jersey Devils could be among Jack Campbell's suitors if he tests the open market.