Penguins File for Chapter 11; Lightning Fires Both Espositos

With a major lawsuit still pending with Hall of Famer Mario Lemieux, the Pittsburgh Penguins on Tuesday filed for Chapter 11 bankruptcy protection.

Penguin co-owner Roger Marino cited losses of $37.5 million over the last two seasons and an inability to negotiate a more favorable lease at the Civic Arena, which soon will be the NHL’s oldest.

Bankruptcy isn’t unprecedented in the NHL; the Penguins also filed in 1975 after the IRS padlocked team offices.

“While we are disappointed, we have a commitment from ownership that the team will be adequately funded and we are optimistic this process will ultimately ensure that the franchise will be financially and competitively successful in Pittsburgh,” NHL Commissioner Gary Bettman said.

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The Tampa Bay Lightning fired brothers Phil and Tony Esposito in a front-office shake-up by the team with the worst record in the NHL last season.

Phil Esposito, the general manager, and Tony Esposito, the director of hockey development, are both in the Hockey Hall of Fame and have been with the Lightning since their inception in 1992-93.

Coach Jacques Demers also will become general manager, and head scout Don Murdoch takes over as director of hockey development.

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The Philadelphia Flyers acquired minor league defenseman Ryan Bast, 23, and an eighth-round draft pick from the Calgary Flames in exchange for a third-round pick in next year’s draft.