Fingold group signs letter of intent with Penguins

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A group of four led by Samuel Fingold has signed a letter of intent to purchase the Penguins, the team announced tonight.

The letter of intent gives the Fingold group exclusive negotiating rights to reach a purchase agreement. After such an agreement, the NHL would need to give its approval.

Fingold, 34, grew up a hockey fan in Toronto and now is principal of Kenyon Investments in Hartford, Conn.

Although he earlier indicated an interest in moving the hockey team to Kansas City if he was successful in purchasing it, Fingold now seems intent on keeping it here.

"We agree with the current ownership group that the Penguins should remain in Pittsburgh, and that a new arena is crucial to the team's long-term success," Fingold said in the team's release.

"So many of the elements for success already are in place here, including a loyal fan base and a spectacular core of young talent, led by Sidney Crosby. The Penguins are an important part of Pittsburgh's sports landscape, and it is our objective to do everything possible to secure their future here."

Also in Fingold's group are his father, David, and brother, Michael, both of Toronto, and Michael Cohl, founder and chief executive officer of Concert Productions International.

More details in tomorrow's Pittsburgh Post-Gazette.


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