Aug 3, 2007, 23:25 GMT
Pittsburgh, PA - The Pittsburgh Penguins announced on Friday that the team will delay the opening of their new arena until the start of the 2010-2011 season.
The franchise announced in March that they reached an agreement with city, county and state officials for the financing of a new arena that will keep the club in the Steel City for the next 30 years.
At a cost of $290 million, the new building will be constructed across the street from Mellon Arena, home to the Pens since the team's 1967 inception. Rather than rush to have the arena open in 2009 with further improvements still pending, the team decided to complete construction before opening for any events.
The new timetable is not likely to increase the cost of the new construction, and the official groundbreaking which was scheduled for next Spring is also not expected to be affected.
The Penguins' lease at the 46-year-old facility, nicknamed 'The Igloo,' which is the oldest rink remaining in the league, was to expire June 30, at which point the team would have been free to leave.
The city-county Sports & Exhibition Authority, which authorized a $325 million bond issue to fund the project, will own the new arena, but the Penguins will be responsible for its operation under the terms of the 30- year lease. The state will pay $7.5 million annually from a state economic development fund and slot machine revenues.
Before the deal was struck, franchise icon and part-owner Mario Lemieux threatened to relocate the team and trips to Las Vegas and Kansas City ensued. Kansas City offered the use of its yet-to-be completed Sprint Center rent-free if the Penguins decided to relocate there prior to the start of next season.
© 2007 The Sports Network
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