Bad news for Pit fans...
KDKA TV in Pittsburgh reports that the NHL team will be sold to Canadian businessman Jim Balsillie for $175 million.
Balsillie is the owner of Research In Motion, a Blackberry manufacturer based in Waterloo, Ont.
Among the groups trying to buy the Penguins were Hartford businessman Sam Fingold and a group led by New York taxicab medallion financier Andrew Murstein, Dallas Mavericks owner Mark Cuban and former star quarterback Dan Marino.
Penguins owner Mario Lemieux and his partners were approached by groups interested in purchasing the franchise back in January. Lemieux had said any 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.
Say hello to your Hamilton Penguins...should be interesting to watch what Toronto does.