...Penguins are hoping for a $20 million loan from Societe Generale. The team is waiting for U.S. Bankruptcy Judge Bernard Markovitz to decide if the team's debt, believed to be $125 million, is too high and the franchise value, between $75-105...
...interested in investing in Lemieux's group. Lemieux met Wednesday and Thursday with Cuban. U.S. Bankruptcy Judge Bernard Markovitz will review the league's plan and could send it to Penguins creditors for a vote, said Greg Cribbs, a team lawyer...
...here. ... I had a lot of fun this season, and I think we can do better next season." U.S. Bankruptcy Judge Bernard Markovitz said Wednesday he is inclined to present the NHL's plan to break up the Penguins to the team's 200 creditors...
...Arena -- will be repaid when the team returns to normal business operations. Last Friday, U.S. Bankruptcy Judge Bernard Markovitz invalidated the lease, which was negotiated in 1991, renegotiated in 1994 and runs through 2007. It has been described...
...bankrupt team in Pittsburgh. If approved, the motion filed by the Penguins' lawyers with U.S. Bankruptcy Judge Bernard Markovitz would allow any potential buyer -- most likely, Lemieux -- to negotiate a new lease to play in the 38-year-old...
...from 1984-97. "It's been a long road and it's finally great to get the team." U.S. Bankruptcy Judge Bernard Markovitz had two choices: the Lemieux plan, which keeps the Penguins in Pittsburgh and preserves Lemieux's financial stake...
...Lemieux, has presented a competing plan to keep the team in Pittsburgh. Also Friday, U.S. Bankruptcy Judge Bernard Markovitz indicated he would allow the Penguins to set up an escrow account to protect season-ticket buyers if the team leaves...
...player-turned-owner in major pro sports and preventing the Penguins from leaving Pittsburgh. U.S. Bankruptcy Judge Bernard Markovitz had two choices: the Lemieux plan, which keeps the Penguins in Pittsburgh and preserves Lemieux's financial stake...
...Washington County car dealer, and Burkle has investments in grocery stores. Also Friday, U.S. Bankruptcy Judge Bernard Markovitz said creditors can vote on Lemieux's plan, which the NHL has endorsed. No vote has been scheduled, however...
...endorsed Lemieux's bid, but is encouraging it and has met at least once with Lemieux. U.S. Bankruptcy Judge Bernard Markovitz will begin next month to consider offers to reorganize the Penguins' debt, estimated at more than $125 million...