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Breaking EaterWire: Ron Siegel and Co. Drop Myth Deal

Hot news off the wire from the ongoing Pacific Avenue saga known as the Myth sale: the Chronicle is now reporting that Ritz-Carlton Dining Room chef Ron Siegel, sommelier Stephane Lacroix and Carl Pascarella have cut bait on the pending deal to buy Myth. From SFGate:

The three have been in negotiations to buy the restaurant from owner Tom Duffy and K2K Development since late last year and had hoped to take over this fall. But when that didn't happen, and the economy took a turn for the worse, the trio became concerned that a new venture would be too risky...

The option to buy the restaurant expired at 5 p.m. Tuesday, said Duffy, who would not elaborate on the future of Myth.

According to the report, Siegel will (happily) stay on at the Ritz—is it too late to add it to the Top 100, MB?—and Duffy says that Myth's scheduled closure and renovations will take place as previously planned, though uncertainty continues to continue down in Jackson Square.
· Siegel group bails out of deal to buy Myth restaurant [Chron]