Ex-Penguin Owner Makes Bid for Ducks

A group headed by Howard Baldwin, former owner of the Pittsburgh Penguins and Hartford Whalers, has offered to buy the Mighty Ducks, a source familiar with the negotiations said Thursday.

Baldwin, who owned the Penguins from 1992 to ‘98, heads one of three groups discussing the purchase of the team from the Walt Disney Co. Texas businessman David McDavid, who nearly purchased the NHL’s Atlanta Thrashers and NBA’s Atlanta Hawks, and Henry Samueli, whose company operates the Arrowhead Pond, are also interested, according to separate sources.

Baldwin’s group, which is believed to include at least one local partner, is said to be further along.

Baldwin is believed to have offered $50 million, the figure Disney paid for the Ducks to join the NHL as an expansion franchise in 1992. The source said Baldwin’s bid would be financed and might require Disney to defer payment of some of the purchase price. It is uncertain whether Disney would accept such an offer.

The NHL is on the verge of a lockout that could cancel some or all of the 2004-05 season, and franchise values figure to appreciate when owners and players reach a new labor agreement. By waiting out a lengthy lockout, Disney could gamble on the payoff of a higher sale price, but the company would have to endure millions more in losses and could find the market crowded with other NHL teams up for sale.

Disney spokeswoman Leslie Goodman did not return a call seeking comment. An assistant to Baldwin said he was traveling Thursday and unavailable for comment.

Once a cash cow for Disney when sellouts were commonplace and their merchandise was among the most popular in sports, the Ducks are believed to have suffered losses of as much as $25 million in recent seasons.

The team has been on the market for four years but has attracted only scant interest. Joe and Gavin Maloof, whose family owns the Sacramento Kings of the NBA, investigated buying the Ducks last fall, going as far as to meet with Duck management to discuss the team. The Maloofs’ interest has cooled since then, according to a King official.

Baldwin’s interest in buying the Ducks might coincide with efforts to build a new arena in Kansas City. Tim Leiweke, vice president of the Anschutz Entertainment Group, which will invest $50 million in that arena, has said it would have an “anchor tenant,” either an NHL or NBA team.

The Ducks would need to give the city of Anaheim two years’ notice on their intention to move, plus pay damages for early lease termination.

The earliest the team could move would be 2007, which is when the Kansas City arena is scheduled to open.

Disney chief Michael Eisner has said that the Ducks would remain in Anaheim even if they were sold. But the possibility of the team’s moving could prompt Samueli to make a stronger bid for the Pond’s main tenant.

Baldwin’s group recently bought the Des Moines franchise of the American Hockey League, which could become a minor league affiliate.

Baldwin, 62, has an extensive history with the NHL. He founded the Whalers and served as managing general partner of the franchise for 17 years. His time as the Penguins’ owner was marked by the team’s going into bankruptcy in 1998. He was also part owner of the Minnesota North Stars.

*

Times staff writer Helene Elliott contributed to this report.