Penguins sign lease through 2040
The Pittsburgh Penguins signed a lease Thursday, committing the NHL team to its yet-to-be built $290 million arena until 2040.
The lease terms were in accordance with a March memorandum between the team and government officials, Gov. Ed Rendell said Thursday.
The city-Allegheny County Sports and Exhibition Authority committed Wednesday to construction financing, and the deal should close in the first week of October, Rendell said. The Penguins expect to open the arena in the 2010-11 season.