Larger text
Smaller text
Print
E-mail
Pens would find whale of a welcome in Hartford
Larry Gottesdiener
Sam Fingold
Andrew Conte can be reached via e-mail or at 412-320-7835.
The Penguins are close to announcing a sales agreement with one of two potential buyers: Sam Fingold, a developer who lives in Hartford, or Larry Gottesdiener, whose company owns more of downtown Hartford than anyone else.
Both men are working on separate projects about two blocks apart that seek to bring residents and retail shopping back to an area near the Hartford Civic Center, where the Whalers played until 1997.
"The fact that we have individuals associated with Hartford out there in the hunt for a hockey team is good news," said Matt Hennessy, chief of staff to Hartford Mayor Edie A. Perez.
"We don't want to wish ill on any other community, but if for whatever reason the Penguins can't stay in Pittsburgh, they certainly would be welcome here," Hennessy said.
Groups headed by Fingold and Gottesdiener have emerged as finalists for the team, each offering to pay about $175 million. Three other groups made offers, but none of them is close to buying the team.
Fingold is considered the leading contender as he and Gottesdiener negotiate with the Penguins over details in letters of intent. The agreement could hinge on issues such as how quickly each would close the deal.
After the team and a buyer agree on a letter of intent, the winning group would have 30 to 45 days to finalize the deal and submit it to the NHL for approval.
All five bidders committed to staying if Isle of Capri Casinos wins a slots license for Pittsburgh and pays $290 million for an arena.
Even if the casino license goes to another company, it's likely the team would remain in Pittsburgh -- especially if the new owner could negotiate slightly better terms under Gov. Ed Rendell's backup arena proposal. He wants the team to pay $8.5 million up front and $2.9 million a year, while forgoing $1.1 million a year in naming rights.
If Pittsburgh fails to build an arena, none of the bidders would keep the team at Mellon Arena. Fingold has talked about moving it to Kansas City, which has a new arena, and Gottesdiener to Hartford, which does not.
Penguins fans might be devastated by that news, but the Whalers Boosters Club -- yes, it remains active -- would be thrilled. Gottesdiener spoke to the group this spring and vowed to work toward bringing the NHL back to Hartford.
"Nobody wants to see anybody lose their team," said Alan Victor, booster club president. "It's a terrible feeling and we wouldn't wish it on anybody. However, given the NHL is not going to expand, we want NHL hockey in Hartford."
It makes business sense for Gottesdiener to court the NHL for Hartford. His company, Northland Investment, based in Massachusetts, owns 1.4 million square feet of residential, office and retail space in Connecticut's capital city. It's worth about $500 million, and much of it sits near the Civic Center.
A short walk away, Fingold's company, Kenyon Investments, is helping to redevelop a historic department store building into student housing for the University of Hartford. The $45 million project will house 130 students when it opens early next year.
"(Fingold and Gottesdiener) are so involved in Hartford," said David Isgur, university spokesman. "They certainly can see each other's project rising up."
The projects are "key components" for bringing life back to Hartford's city center, said Annette Sanderson, executive director of the Capital City Economic Development Authority.
Her group, whose goal is to create a downtown residential neighborhood, was created one year after the Whalers left. The area is expected to triple from about 2,000 residents to about 6,000 over the next 18 months.
