Breakdown of Murstein's Bid
Some very exciting news was broken on ESPN 1250 in Pittsburgh this afternoon when Tim Benz had Andy Murstein as a guest on his show. Murstein is one of the many who are interested in purchasing the Pittsburgh Penguins.
He officially made his interest in the team public and stated that he and his group are 100% committed to keeping the team in Pittsburgh. He felt that with some of the other groups there would be no better than a 50% chance of the team staying town.
Mustein, who made his money with New York's Medallion Taxi Company, said that he is a young man and has time to wait for a new arena. Stating that he would wait years to get a new building in Pittsburgh. He said that he felt Plan B which has been brought forward by Governor Ed Rendell was a fair deal, and would be willing to sign on with a bit of tweaking. He felt that the amount of rent the team would pay on their 30 year lease could be lowered a bit.
He stated that he has had interest in the team for over a year, and actually approached the Pens prior to them settling on an Investment Bank to sell the team.
Confirmed that he has indeed added Mark Cuban and Dan Marino to his group, getting confirmation from both of them last night. He stated that Cuban had been contacted by many of the groups interested in purchasing the team and he chose Murstein's.
Murstein reiterated again that the team will stay: "Mark it down-the team will stay."
He mentioned having faith in the Pittsburgh politicos, and has gained that faith through conversations with the Medallion Board of Directors of which Mario Cuomo is a member, as well as several other former politicians. He said that Pittsburgh has always been a city that stepped up when they were in danger of losing a team. He has met with city officials and has been pleased with their commitment level and what they had to say.
He stated that he had interest in purchasing the Blues, but passed when he heard that the Penguins were available. He felt it was a better fit, situation and team in the long run....Especially with all the talent.
He feels that the process will go about 30 more days with the investment bank taking additional bids. At which point they will narrow it down and make a decision.
He would wait years for a new arena if need be.
This is all very exciting news and can only help the cause. Dan Marino is rumored to only be making a minor investment, but will sort of be on board as a face for the process. Hopefully this is paving the way for many more Hockey Nights in Pittsburgh!!
The Pittsburgh Penguins also have released a statement minutes ago stating that they have not yet received a formal bid from Murstein.
He officially made his interest in the team public and stated that he and his group are 100% committed to keeping the team in Pittsburgh. He felt that with some of the other groups there would be no better than a 50% chance of the team staying town.
Mustein, who made his money with New York's Medallion Taxi Company, said that he is a young man and has time to wait for a new arena. Stating that he would wait years to get a new building in Pittsburgh. He said that he felt Plan B which has been brought forward by Governor Ed Rendell was a fair deal, and would be willing to sign on with a bit of tweaking. He felt that the amount of rent the team would pay on their 30 year lease could be lowered a bit.
He stated that he has had interest in the team for over a year, and actually approached the Pens prior to them settling on an Investment Bank to sell the team.
Confirmed that he has indeed added Mark Cuban and Dan Marino to his group, getting confirmation from both of them last night. He stated that Cuban had been contacted by many of the groups interested in purchasing the team and he chose Murstein's.
Murstein reiterated again that the team will stay: "Mark it down-the team will stay."
He mentioned having faith in the Pittsburgh politicos, and has gained that faith through conversations with the Medallion Board of Directors of which Mario Cuomo is a member, as well as several other former politicians. He said that Pittsburgh has always been a city that stepped up when they were in danger of losing a team. He has met with city officials and has been pleased with their commitment level and what they had to say.
He stated that he had interest in purchasing the Blues, but passed when he heard that the Penguins were available. He felt it was a better fit, situation and team in the long run....Especially with all the talent.
He feels that the process will go about 30 more days with the investment bank taking additional bids. At which point they will narrow it down and make a decision.
He would wait years for a new arena if need be.
This is all very exciting news and can only help the cause. Dan Marino is rumored to only be making a minor investment, but will sort of be on board as a face for the process. Hopefully this is paving the way for many more Hockey Nights in Pittsburgh!!
The Pittsburgh Penguins also have released a statement minutes ago stating that they have not yet received a formal bid from Murstein.
posted by Bmetzer66 at 3:40 PM
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