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Canadian businessman agrees to buy Penguins

Updated: October 5, 2006, 10:54 PM ET
Associated Press

PITTSBURGH -- The Pittsburgh Penguins are getting a new owner, and he arrived on the day a new season started. That soon-to-be owner, Canadian businessman Jim Balsillie, said it's obvious what has to follow: a new arena.

Balsillie, whose company makes the BlackBerry wireless messaging device, signed an agreement Thursday to buy the Penguins from Hall of Famer Mario Lemieux's group for approximately $175 million.

The deal, which must be approved by the NHL, was completed ...

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