Look slike a deal may of been reached to keep the Penguins in Pittsburgh.
(KDKA) PITTSBURGH After all the uncertainty, and the back and forth discussion over whether the Pittsburgh Penguins would stay here or possibly leave town, the long wait appears to be over.
KDKA sources have confirmed that the new arena deal is done.
As KDKAâ€™s Bob Pompeani first reported on KDKA-TV News at 11:00pm, the city, the state and the Penguins have all come to an agreement over how to build and pay for a new arena.
And that means the Pens will stay right here in Pittsburgh.
The official announcement is expected before tonight’s game against the Buffalo Sabres.
Last week’s meeting lasted more than four hours and produced significant progress on the framework for a new multi-purpose arena. Some bigger stumbling blocks were finance rates on an extra $20 million added as a contingency to a proposed arena bond issue.
Sources tell Pompeani that the overall price tag will be higher than the original $290 million that was first discussed.
The Penguins have agreed to put up four million a year toward a new building. They also have agreed to put up $500,000 a year for a new parking garage in the arena complex.
The full details will not be know until the offical announcement and there are a few more meetings to hammer out the fine points of the deal. But it looks as if its going to happen and AEG will have to find a new team to woo for their Kasas City Arena.
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