University Times

The finance and marketing divisions of Pitt's business school are entering the hockey finance arena. Faculty members and MBAs from the Katz Graduate School of Business will be working with Pittsburgh Penguins officials to address several issues facing the beleaguered local franchise, which is re-organizing under Chapter 11 bankruptcy laws.

The project will be led by Katz faculty members Kenneth Lehn, former chief economist with the U.S. Securities and Exchange Commission, and Harry Evans, professor of accounting. Lehn has conducted several studies involving sports organizations. Evans's research has analyzed the role of accounting in organizations from an overall economic perspective.

The project will focus on three areas of the Penguins' operation: the current economic feasibility of the Civic Arena, where the Penguins play their home games; a marketing plan to attract fans, and a plan to improve the public image of the hockey club.

Dean Frederick Winter said, "Working with the Penguins in this capacity will enable Katz MBAs to use their business skills in a dynamic, real-world environment. We're excited to get them involved in this case study, one which will not just impact an organization, but the larger Pittsburgh community as well." Craig Patrick, president of the Penguins, said, "We are delighted to enter into this relationship with the Katz School and the University. It will enable us to get a fresh, impartial, third-party view of our current situation, including an analysis of revenue streams at the Civic Arena, ticket sales and our relationship with our fans. This is the type of information we must gather to ensure the long-term future of the Penguins in Pittsburgh."