Mario Lemieux, who rescued the Pittsburgh Penguins more times than we can count, is not going to pull off a save under these conditions.
Not during a sagging economy.
Not when the city and state are hurting.
Not in a county election year.
He can remind city and county leaders all he wants of the 1999 promise he got when he bought the team that they would assemble a financing plan, no later than summer 2002, for a new arena. The Sports & Exhibition Authority issued a proposal that was a good beginning last August, but the franchise has failed to move the puck.
The plan, developed by SEA Director Stephen Leeper, offered a new, 18,000-seat, $270 million building through a bigger chunk of the county sales tax than is given Mellon Arena, $90 million from the state and $108 million -- or 40 percent -- from private sources (including naming rights, seat licenses and ticket surcharges).
When the SEA built new stadiums for the Steelers and the Pirates, the Steelers came up with $123 million, or 44 percent, of its $281 million construction. The Pirates kicked in $47.7 million, or 18 percent, of its $260 million ballpark. Guess which formula the hockey team likes?
Although Mr. Lemieux prefers a deal similar to the Pirates', this is not the 1990s.
And, unfortunately, the National Hockey League, despite Pittsburgh fans' devotion to the Penguins, is not a hot investment these days. Its TV contract is anemic and the possibility of a players' strike looms large over the 2004-05 season.
This is not to say that the Penguins don't need a new arena. The 42-year-old steel igloo will require a major overhaul in the next decade just to stay functional, so it's reasonable to think about building new, particularly if it delivers a reinvigorated sports franchise, a modern center with fast turnarounds between events and a venue that pleases more customers.
That would be a good deal for the Penguins and for Pittsburgh, but timing is everything.
Mario Lemieux is getting anxious as the clock winds down to 2007, the year that he and the other owners will be free to move the franchise. A good businessman, however, knows when to strike a deal and how much to invest. Reality suggests this is not the time and the private investors' commitment is not enough.
Instead of issuing ultimatums, the Penguins need to show more patience with the arena timetable and more partnership with potential backers.
E-mail this story 
