The Pittsburgh Post-Gazette is reporting that the Penguins and state and local government have reached a deal to construct a new arena, keeping the team here under a 30-year lease.
The arena is slated to open for the 2009-10 season at a cost of approximately $290 million. A formal announcement is expected before the Penguins-Sabres game at 7:30 tonight.
Some of the key points from the P-G article:
--The Penguins will pay $3.8 million per year toward construction and will add another $400,000 per year for capital improvements
--The Penguins also would pay $500,000 a year for a parking garage.
--The rest of the arena funding would come from Pittsburgh casino licensee Don Barden, who would contribute $7.5 million a year and another $7.5 million annually from a gambling-financed state economic development fund
--The Penguins and the state have agreed to split the cost of any additonal costs exceeding $290 million up to $310 million, sources said.
Word spread quickly about the Pens' pending deal on Monday night. Reaction from around the web:
My KC Penguins Fan Forum (they're not too happy)
3 comments:
...and a collective sigh of relief is felt throughout the 'burgh. I don't care how it got done but I couldn't be happier for the players, fans and the city. Now let's go win the Cup!
it's unreal that after such a long battle between the pens and the county/city/state, scumbag ed rendell raced to report to the media that this deal got done solely because of don barden's casino, giving praise to an affair which he backed, when barden shouldn't have even won the bid in the first place.
this whole situation could have and should have been avoided, yet when it finally gets resolved, rendell credits what he was responsible for.
he can't even give credit where credit is due, and for that he will forever be remembered as a slimy, crooked scumbag from philadelphia and a shitty gov.
Have there been any interviews discussing GwenJen's reaction to the Pens staying in the Burgh?
Post a Comment