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Consol Energy Center

NHL expansion team could drive up value for Penguins

Initial bids for an NHL expansion team were due Monday, a purchase that ultimately will cost investors at least $500 million to set up shop in a new hockey town such as Las Vegas or Quebec City. That might be a good thing for the Pittsburgh Penguins. Experts say the high fee for an expansion franchise could drive up the price of the Penguins, a successful and known commodity. "Psychologically, it may help a buyer who's interested in purchasing the Penguins, between the team and the development rights, to kind of justify to themselves that I can go up to $750 million or $800 (million) or $850 (million) because I don't have to do all that work," said John Clark, a...