The Pittsburgh Penguins have been purchased by Jim Balsillie, the co-chief executive officer of Canada's Research in Motion Ltd., the company that makes the wireless messaging device BlackBerry.

Balsillie, 45, bought the team from a group led by former NHL star Mario Lemieux.

Terms of the deal were not disclosed Thursday, but the last offer for the Penguins was reportedly pegged at $175 million US.

The deal still needs to be approved by the league, which could take several months...

See the full story at CBC News