Connecticut real estate developer Sam Fingold won the bidding contest for the Penguins, and it looks as if he'll do his best to win over the team's fans, too.

Mr. Fingold, leading a group of four active bidders, has signed a letter of intent to buy the hockey club, the Penguins announced last night. It's believed his winning bid was at least $175 million.

As recently as late June, Mr. Fingold expressed concerns over the city's ability to build a new arena and said he would keep open the option of moving the Penguins to Kansas City, which has a new arena.

He later softened that stance and now seems committed to try to keep the club in Pittsburgh.

"As passionate hockey fans, we are excited about this opportunity to purchase the Pittsburgh Penguins," Mr. Fingold said in a Penguins' news release. "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.

"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."

The letter of intent signed by the Fingold group gives it exclusive negotiating rights to reach a purchase agreement with the Penguins owners, most likely for 30 days. The next step would be NHL approval.

The Penguins team is owned by the Lemieux Group Limited Partnership. Hall of Famer Mario Lemieux and California billionaire Ron Burkle are the two known members of the group.

If plans for a new facility to replace outdated Mellon Arena don't materialize -- whether through the team's agreement with the gaming company Isle of Capri or under state and local officials' Plan B -- there is no doubt Kansas City will be waiting and willing to welcome the team.

According to the Kansas City Star, Mr. Fingold has maintained regular contact with Paul McGannon, president of NHL21, the Kansas City group trying to bring an NHL team to that city's new Sprint Center.

"The next 30 days will determine if Pittsburgh is able to come up with financial models and scenarios to stay in Pittsburgh," Mr. McGannon told the Star for a story appearing today.

"That's the first choice of the league and the current ownership group. But if for whatever reason that does not work out politically or casino-wise or otherwise, what are the other options? Fingold looks at us favorably as an option."

If Isle of Capri gets the slots license for Pittsburgh, it has agreed to donate $290 million toward construction of a new arena.

If one of the other two gaming companies in the running for the slots license prevails later this year, there is a plan for that company to contribute $7.5 million a year for 30 years, the Penguins $8.5 million up front and $4.1 million per year, and the state $7 million a year through a slots-backed fund, all toward the new facility. There also is $26.5 million in state funds for land acquisition and site preparation in Uptown, adjacent to Mellon Arena.

But many aspects of Plan B still will need to be negotiated and finalized if the Isle of Capri situation doesn't materialize.

The Penguins' lease at Mellon Arena expires in June.

"Pittsburgh has a great NHL market of 39 years, two Stanley Cups," Mr. McGannon said. "These are prized commodities, these teams. They are going to do everything they can to keep it, which we totally understand.

"Our job at NHL21 is front and center. We are a viable option. The league is well aware of our desires. We just have to wait and see how all this plays out."

Allegheny County Chief Executive Dan Onorato is not waiting around. He said he got Mr. Fingold's phone number from Penguins CEO Ken Sawyer last night and was hoping for a call back from the prospective team owner.

"We're prepared to sit down with the new owner and discuss a long-term lease at a new multipurpose facility," Mr. Onorato said.

"We have two different plans to get a new facility. I can't worry or speculate on what other cities will do. I just want [Fingold] to know we're prepared to negotiate."

Asked what he thought the chances are that the Penguins will remain, Mr. Onorato said: "I'm not into giving odds, but we now have financing in place for a new facility on the timeline the Penguins need. We hope to start construction in '07 and finish in '09.

"I believe our chances are good."

Under NHL bylaws concerning relocation of franchises, if there is an issue that would make a team viable in its current city -- such as a new arena -- and there is an ongoing plan to rectify that issue, the league likely will block a move.

Mr. Fingold, 34, is the principal of Kenyon Investments, a commercial real estate firm in Hartford, Conn. Mr. Fingold's partners are his father, David, and brother, Michael, who are real estate developers in the family's hometown of Toronto, and Michael Cohl, founder and chief executive officer of Concert Productions International.

"Sam and his family have a tremendous background in business and investments, and, just as importantly, they have hockey in their blood. We look forward to working with them to complete the purchase agreement, and to achieve their goal of keeping the Penguins in Pittsburgh for the long term," Mr. Sawyer said.