NHL To Decide On Pens' Future

The NHL might ask the court for permission to revoke the Pittsburgh Penguins' franchise if a plan to pull the team out of bankruptcy isn't adopted soon, a league official said.

William Daly, senior vice president of legal affairs for the NHL, was reacting to comments last week that efforts to get the team out of bankruptcy have stalled.

"We can't be in a position of being halfway through the summer and not knowing what the Penguins are doing," Daly said Monday.

With approval from U.S. Bankruptcy Court, revoking the Penguins franchise would be an NHL first. The move would allow the sale of player contracts or the entire team to another city under the league constitution.

Daly declined to give a deadline for resolving the issue.

The Penguins filed for bankruptcy protection last fall. Former Penguins star Mario Lemieux, one of the team's major creditors, has submitted the only financial reorganization plan.

Florida investment banker Charles "Chip" Gesner Jr. is developing a competing plan and represents seven investors. One is rumored to be Nelson Peltz, chief executive officer of Triarc Cos., which owns Snapple Beverage Corp., 3,000 Arby's restaurants and National Propane Partners.

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