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http://tsn.ca/nhl/news_story/?ID=151407&hubname=nhl

<embed style="width: 497px; height: 31px;" class="sIFR-flash" type="application/x-shockwave-flash" sifr="true" bgcolor="#FFFFFF" wmode="" flashvars="txt=Report: Penguins being put up for sale&textalign=left&offsetLeft=2&sWmode=transparen t&textcolor=#000000&linkcolor=#660000&hovercolor=# CCCCCC&w=497&h=31" quality="best" src="http://www.tsn.ca/flash/fonts/helveticanueblacext.swf" height="31" width="497">Report: Penguins being put up for sale

Mario Lemieux

TSN.ca Staff with files
1/19/2006 8:49:54 AM
The Pittsburgh Post-Gazette reports that Penguins owner Mario Lemieux and his partners have been approached by "a few groups" interested in purchasing the franchise - and plan to begin negotiating with them.
Lemieux told the paper Wednesday that he and his partners would be opening negotiations for the sale of the team.
"We're just starting the process," Lemieux told the Gazette. "We don't have a deal. We're just starting the process."
Lemieux added that even if the team is sold, the new owners would be bound by an agreement to remain in Pittsburgh if a coalition assembled by the Penguins is awarded the license to run a slots parlor downtown.
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Isle of Capri Casinos Inc. - a gaming company specializing in riverboat, dockside and land-based casinos - would then run the slots parlor and pledge $290 million US toward construction of an arena. The Penguins have committed to stay in Pittsburgh if the city gets a new facility to replace Mellon Arena.

<table align="right" border="0" cellpadding="0" cellspacing="0"><!--drop width--><tbody><tr height="8"><td>
</td></tr><tr><td> <!-- Begin Ad --> <script type="text/**********"> if(!sops){if(p.sops){var sops=p.sops;}else{var sops="";}} if(dUnitBox==true){boxAd=true;} if(boxAd){if((!dUnitSky)||(dUnitBox)){place300x250 ();}} </script> <!--- End Ad --> </td></tr><tr><td> </td></tr> </tbody></table> "I think we've done pretty much everything we can do, as far as setting up the franchise for the future," Lemieux told the paper.
The Penguins have a plan with Isle of Capri to make sure this franchise stays in Pittsburgh forever, which has always been my goal. I really feel that we've set it up to do that if the right things happen."
Lemieux did not identify any of the groups that have approached the Penguins about buying the team.
The Gazette adds that Lemieux will also step down as the Penguins' Chief Executive Officer in favour of president Ken Sawyer, but remain as chairman of the board.
A U.S. Bankruptcy Court approved Lemieux's reorganization plan to save the Penguins from bankruptcy in 1999. The Hall of Famer bought the team to help recover unfulfilled contractual payments by former Penguins owners and to keep the franchise in Pittsburgh, making him the first former player to become majority owner of his former team.
The news is just the latest chapter in the Penguins' roller-coaster season on and off the ice, with spirits soaring high after the team won the NHL's Draft Lottery last July. The Penguins selected teen phenom Sidney Crosby, and laced their lineup with veteran players like John LeClair, Sergei Gonchar, Jocelyn Thibualt and Ziggy Palffy.
The Penguins struggled out of the gate with a 8-17-6 record, prompting the team to fire of head coach Ed Olczyk in favour of Michel Therrien last month. The coaching change has done little to improve the team, and the Penguins took another hit Wednesday when Palffy, who signed a three-year, $13.5 million US contract in August, announced his retirement.
Files from the Pittsburgh Post-Gazette were used for this report.