PITTSBURGH — According to a report from the Pittsburgh Business Times, investors are likely to make an offer to buy the Pittsburgh Penguins this week.
Last month, owners Rob Burkle and Mario Lemieux announced they were exploring a sale.
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Terms of a possible deal have not yet been released, but insiders told the Pittsburgh Business Times that the team will likely be worth between $700 million and $800 million.
According to the Pittsburgh Business Times, the Pens can't relocate because the team's lease with Consol Energy Center runs to 2037, and any bid accepted by the Penguins' owners would have to be approved by the NHL Board of Governors.
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