Cuban, Marino joining in bid to buy Penguins

The two Pittsburgh natives would like to keep the team in the city.
PITTSBURGH (AP) -- Mark Cuban is known for baiting NBA officials and Dan Marino is the most prolific passer in NFL history, but the two Pittsburgh natives now want to expand into a different sport in their hometown -- hockey.
The two have joined with a New York City financier in trying to buy the NHL's Penguins from Hall of Fame member Mario Lemieux's group, which is selling the two-time Stanley Cup champions even as the team seeks a new arena deal.
The group of prospective Penguins owners is headed by Andrew Murstein, the president of Medallion Financial Corp., a company that finances New York City taxicab medallions and originates consumer loans for recreational vehicles. Also included are principals in Pittsburgh-based Walnut Capital, a real estate management and development company.
Walnut Capital CEO Gregg Perelman recently teamed with Cuban to buy a nine-story downtown Pittsburgh office building. Cuban, who grew up in suburban Pittsburgh, is the billionaire Dallas Mavericks owner whose holdings include a movie production firm and high-definition TV channel.
May strengthen bid
Adding Cuban and Marino is expected to strengthen the group's estimated $150 million bid not only financially but perception-wise. Neither Cuban nor Marino have any interest in moving the Penguins from Pittsburgh -- Cuban has made it a condition of his participation -- even though the team has yet to land a deal to build an arena to replace 45-year-old Mellon Arena.
Murstein was in Dallas on Tuesday, presumably to meet with Cuban about his involvement in the group. In the past, Murstein expressed interest in buying two NHL franchises, the Blues and Ducks, and the Kansas City Wizards of Major League Soccer.
Todd Reidbord, Walnut Capital's president, said recently his group was the only one interested in buying the Penguins that has fully committed to staying in Pittsburgh. At least four other groups have expressed interest in the team, which is expected to be sold before the start of the NHL season in October.
Lemieux's ownership group, which also includes California businessman Ron Burkle, bought the team in federal bankruptcy court in 1999 -- partly to protect the nearly $30 million in deferred money owed Lemieux on his contract. Lemieux's group has since paid back all money owed by the club before its bankruptcy filing, a rarity during such procedures.
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