'"We will work with Darcy Regier and the executives to ensure operations continue as usual while we seek a local buyer to purchase and operate the club in Buffalo," Bettman said. "That is the goal. We're very excited by the local support that has been shown for the club. So please buy your tickets."' … [Read more...] about League officially takes control of Sabres
SabresBeat
League seizes control of Sabres
'"Until we talk to the Sabres, it's difficult to comment on how they will operate," Amerks President and CEO Steve Donner said on Thursday night. "But, I suspect they'll operate in relatively similar fashion to how they have in the past."' … [Read more...] about League seizes control of Sabres
National Hockey League Takes Control of Sabres
'Bettman said the sale of the Sabres, who are worth about $117 million, will probably take several months. Until a new owner is found, the NHL will pay all of the team's expenses, including staff salaries and any signing bonuses for players that Buffalo selects at this weekend's amateur draft in Toronto.' … [Read more...] about National Hockey League Takes Control of Sabres
NHL to operate Sabres
'Commissioner Gary Bettman said Thursday that owner John Rigas had agreed to the move. Although Rigas technically remains the Sabres' owner, the move helps clear the way for the potential sale of the franchise.' … [Read more...] about NHL to operate Sabres
NHL to take control of Sabres?
'"No sale of the Sabres can be effected without addressing the debt to Adelphia from the Sabres," William F. Savino, a business attorney in western New York, said recently. "The Sabres have used Adelphia like a credit card."' … [Read more...] about NHL to take control of Sabres?
Schumer writes NHL chief on Sabres' behalf
'Sen. Charles E. Schumer wrote to NHL Commissioner Gary Bettman on Wednesday, urging him to ensure that the Sabres remain in Buffalo if the team is sold.' … [Read more...] about Schumer writes NHL chief on Sabres' behalf
Awards take back seat to meetings
'Bettman hinted broadly in an impromptu, but carefully scripted, state-of-the-game address at the Stanley Cup Finals in Detroit that there are several teams in economic difficulty and that it's possible some might not be able to hang on until the current Collective Bargaining Agreement expires in September 2004. The Sabres certainly fit the criteria.' … [Read more...] about Awards take back seat to meetings
Adelphia may lose Buffalo Sabres franchise to NHL
'National Hockey League officials are meeting in Toronto today reportedly to discuss a Sabres takeover among other things.' … [Read more...] about Adelphia may lose Buffalo Sabres franchise to NHL
State will meet with Hamister on bid to buy Sabres
'Hamister, CEO and founder of the Buffalo-based National Health Care Affiliates and owner of the Arena Football League's Buffalo Destroyers, has spent the past month forming a group that would keep the team in Buffalo.' … [Read more...] about State will meet with Hamister on bid to buy Sabres
Rigas could give up team voluntarily
'While NHL officials have downplayed the likelihood of the Sabres changing hands on Thursday, the league remains under intense pressure to assume ownership quickly - before Adelphia is forced into bankruptcy. The league then would sell the team to a new ownership group.' … [Read more...] about Rigas could give up team voluntarily
Saving the Sabres
'The Adelphia debt, in particular, could draw the Rigas-owned Niagara Frontier Hockey Limited Partnership into the cable company's anticipated bankruptcy by ranking the team loans among Adelphia's corporate assets. The NHL could play a vital role in brokering a debt-resolution deal or acting as interim franchise caretakers, as well as helping guide any sale of … [Read more...] about Saving the Sabres
NHL governors have Sabres' future on the agenda
'A group of mostly local investors has spent the past month forming in hopes of buying the Sabres and keeping them in Buffalo. Mark Hamister, who owns the Arena Football League's Buffalo Destroyers, has been identified as the group's catalyst. Brendan McDaniels, a spokesman for Hamister, declined comment Tuesday.' … [Read more...] about NHL governors have Sabres' future on the agenda
NHL calls report of Sabres takeover "premature"
'NHL spokeswoman Bernadette Manser says the league's Board of Governors will be meeting on Thursday, but the only item on the agenda is an update on the Sabres, and no action will be taken.' … [Read more...] about NHL calls report of Sabres takeover "premature"
The NHL to take over the Sabres this week
'Sources have told WGR Sports Radio 55 that the NHL will take over the Buffalo Sabres on Thursday...I have also learned Commissioner Gary Bettman does not think it'll be long until the team is sold to local investors led by Bob Rich Jr., and Mark Hamister.' … [Read more...] about The NHL to take over the Sabres this week
Tight budget forces Sabres to build through draft
'With Adelphia Communications facing at least $2.3 billion in unreported debt, and the NHL ready to take over the team if needed, belt tightning within the Sabres organization could be an understatement.' … [Read more...] about Tight budget forces Sabres to build through draft