spndnchz Posted November 30, 2010 Report Posted November 30, 2010 Levy said. "The truth is, it was by listening to what we were hearing, by going to these meetings, by having discussions with people that we came to the conclusion that we were wrong, and we could correct it, so why not?" That just pisses me off to no end. Like, we had all these grand plans, I like fishing, Bass Pro, all you people in Buffalo are idiots, you don't know what you want, we'll tell you what you need, oh, wait, you may have a point here, golly, that looks great... :wallbash::wallbash::wallbash:
henysgol Posted November 30, 2010 Report Posted November 30, 2010 No. He denied one was signed for $150M. Those are weasel words. It could have been $151M and LQ would be correct. True. I never believe a word that comes out of that rodent's mouth. I can't wait to see how this whole thing unfolds. I really hope Pegula does buy the Sabres. From what I've read, he actually IS a hockey fan! Maybe he'll shell out some $$ and assemble a Cup winning team! Oh yea, and fire Regier. Yea, I know, wishful thinking!
spndnchz Posted November 30, 2010 Report Posted November 30, 2010 No. He denied one was signed for $150M. Those are weasel words. It could have been $151M and LQ would be correct. The Sabres have further clarified that statement to me, indicating no letter has been signed at any price and not just at the figure quoted by The Hockey News earlier today. We'll have to see where this goes. A story changing by the hour. ---MIke Harrington
spndnchz Posted November 30, 2010 Report Posted November 30, 2010 Someone should tell Quinn to stop denying all the rumors, get off his ass, and start getting this deal done.
korab rules Posted November 30, 2010 Report Posted November 30, 2010 It really comes down to the wording, every situation will be different. Some are binding, some are not; some create a duty to negotiate further in good faith, some do not, etc. But it definitely would be something that a seller would normally require prior to allowing a buyer to conduct due diligence (such as inspecting books and records), together with a confidentiality agreement, at the very, very least. Even then, the really big deals have restrictions on how due diligence will be conducted. It may also be something that the NHL requires in order to begin their due diligence - the NHL has to give their blessing in order for someone new to purchase a franchise. Eleven is absolutely correct - a "letter of Intent" doesn't have any defined meaning, it means whatever it says it means when you actually read the details.
spndnchz Posted November 30, 2010 Report Posted November 30, 2010 Letter of intent is like an offer on a house. Books get opened. No one else gets to put an offer in. All employees are looked at. All vendor deals. Bandits? etc...
Taro T Posted November 30, 2010 Report Posted November 30, 2010 The Sabres have further clarified that statement to me, indicating no letter has been signed at any price and not just at the figure quoted by The Hockey News earlier today. We'll have to see where this goes. A story changing by the hour. ---MIke Harrington So the letter was provided via e-mail and not "signed" via pen and paper? Edit: Or did the letter of intent state that he has a legitimate interest in obtaining the Sabres and stated that the price would be negotiable (but both sides realize that the final price will be ~$150MM based upon prior conversations between the 2 parties). I think this is the direction I'm leaning. We could make this into a contest; instead of "whack a mole," maybe "whack a weasel (word)?" Rules would be real simple, point out the word(s) in the statement that makes what was said technically correct but substantially false. For extra credit / tie breakers we could have people point out what the reality is. Not sure what the prize should be. Chz, any thoughts?
Patty16 Posted November 30, 2010 Report Posted November 30, 2010 The Sabres have further clarified that statement to me, indicating no letter has been signed at any price and not just at the figure quoted by The Hockey News earlier today. We'll have to see where this goes. A story changing by the hour. ---MIke Harrington interesting wrinkle.
spndnchz Posted November 30, 2010 Report Posted November 30, 2010 So the letter was provided via e-mail and not "signed" via pen and paper? We could make this into a contest; instead of "whack a mole," maybe "whack a weasel (word)?" Rules would be real simple, point out the word(s) in the statement that makes what was said technically correct but substantially false. For extra credit / tie breakers we could have people point out what the reality is. Not sure what the prize should be. Chz, any thoughts? Word on the street is it wasn't a letter at all. Recently sugar packets and Pegasus were out golfing at St Andrews. After a few rounds of drinks, Pegasus wrote on a napkin "I want your team". SP proceeded to take him to a gay strip club, leaving the napkin behind. The bartender at the club tried to fax the napkin, to no avail, to the Hockey News over the weekend. They had to mail it in like the rest of the team.
korab rules Posted November 30, 2010 Report Posted November 30, 2010 It really comes down to the wording, every situation will be different. Some are binding, some are not; some create a duty to negotiate further in good faith, some do not, etc. But it definitely would be something that a seller would normally require prior to allowing a buyer to conduct due diligence (such as inspecting books and records), together with a confidentiality agreement, at the very, very least. Even then, the really big deals have restrictions on how due diligence will be conducted. Eleven may have hit the nail on the head. This could explain all the fast stepping and denials. Would it really surprise anyone if LQ was lying through his teeth?
SDS Posted November 30, 2010 Report Posted November 30, 2010 So the letter was provided via e-mail and not "signed" via pen and paper? Edit: Or did the letter of intent state that he has a legitimate interest in obtaining the Sabres and stated that the price would be negotiable (but both sides realize that the final price will be ~$150MM based upon prior conversations between the 2 parties). I think this is the direction I'm leaning. We could make this into a contest; instead of "whack a mole," maybe "whack a weasel (word)?" Rules would be real simple, point out the word(s) in the statement that makes what was said technically correct but substantially false. For extra credit / tie breakers we could have people point out what the reality is. Not sure what the prize should be. Chz, any thoughts? How did "whack a weasel" get by the bad word filter?
Two or less Posted November 30, 2010 Report Posted November 30, 2010 The speculation is very exciting. From everyone who has known him (and this is from what ive read today or heard on radio today) is he's got money, is an awesome dude, blue collar and wants to win. I can't find the article, but Jeremy White read a lot of it on the radio. It was from the Penn State coach, who texted Pegula after the announcement of the arena saying "thank you". Pegula wrote back saying he's taking his wife out to celebrate and he's just as pumped. The coach responded saying it's a dream come true and Pegula replied "This is just the start, now lets build a power house". The guy is kinda like a more mature Mark Cuban from what i gather. Wants to win and is passionate about whatever he puts his hands on.
Stoner Posted November 30, 2010 Report Posted November 30, 2010 THN seems to be standing by its story. Again, though, I ask, what kind of journalism is this? THN "has learned." Don't we as readers deserve at least a hint as to how it has learned this? Meanwhile, sometimes a letter of intent leads nowhere. Phoenix Coyotes and Ice Edge: http://www.thehockeynews.com/articles/30001-Ice-Edge-NHL-sign-letter-of-intent-for-sale-of-leagueowned-Phoenix-Coyotes.html Sometimes, it works out. Nashville: http://sports.espn.go.com/nhl/news/story?id=2957518
cdexchange Posted November 30, 2010 Report Posted November 30, 2010 Wow. Double wow. To echo Shrader's thoughts...very little real work will get done today on my end. :thumbsup:
Taro T Posted November 30, 2010 Report Posted November 30, 2010 How did "whack a weasel" get by the bad word filter? Good question. 'Dingdong' separated out as 2 separate words didn't make it through. (As in 'ding, ######, the witch is dead' got #'d. :censored: )
Eleven Posted November 30, 2010 Report Posted November 30, 2010 THN seems to be standing by its story. Again, though, I ask, what kind of journalism is this? THN "has learned." Don't we as readers deserve at least a hint as to how it has learned this? Without anonymity for sources, there will be a lot less reporting. Ultimately, we as readers learn which publications are credible, and which are not. It's what separates the National Enquirer from the New York Times, or eklund from THN. Because THN is credible, we're talking about this. WGR has canceled its normal programming and has replaced it with the local guys for the day. I doubt that would have been the reaction if this were published by ek and not THN. And if it all turns out to be BS, we won't be so quick to trust THN. The publication stakes a lot on a story like this.
Bmwolf21 Posted November 30, 2010 Report Posted November 30, 2010 I will now officially not get any work done today. Wow. Double wow. To echo Shrader's thoughts...very little real work will get done today on my end. :thumbsup: Count me in on this. I am intrigued, to say the least. What's the mobile address for the forums here?
Stoner Posted November 30, 2010 Report Posted November 30, 2010 Wow. Double wow. To echo Shrader's thoughts...very little real work will get done today on my end. :thumbsup: You had too much pumpkin too? I have to admit -- I've been percolating since about 10 o'clock this AM.
Two or less Posted November 30, 2010 Report Posted November 30, 2010 THN seems to be standing by its story. Again, though, I ask, what kind of journalism is this? THN "has learned." Don't we as readers deserve at least a hint as to how it has learned this? Meanwhile, sometimes a letter of intent leads nowhere. Phoenix Coyotes and Ice Edge: http://www.thehockeynews.com/articles/30001-Ice-Edge-NHL-sign-letter-of-intent-for-sale-of-leagueowned-Phoenix-Coyotes.html Sometimes, it works out. Nashville: http://sports.espn.go.com/nhl/news/story?id=2957518 The difference is, this dude is a big Sabres fan with ties to Western NY.... while Ice Edge was going to move the team to Canada, or atleast 5 games. It just seems too good to be true though.
Stoner Posted November 30, 2010 Report Posted November 30, 2010 Without anonymity for sources, there will be a lot less reporting. Ultimately, we as readers learn which publications are credible, and which are not. It's what separates the National Enquirer from the New York Times, or eklund from THN. Because THN is credible, we're talking about this. WGR has canceled its normal programming and has replaced it with the local guys for the day. I doubt that would have been the reaction if this were published by ek and not THN. And if it all turns out to be BS, we won't be so quick to trust THN. The publication stakes a lot on a story like this. I am asking for "a hint," not a name. LQ has shot it down, so someone's credibility is going to take a hit.
Taro T Posted November 30, 2010 Report Posted November 30, 2010 I am asking for "a hint," not a name. LQ has shot it down, so someone's credibility is going to take a hit. Not necessarily. Just sayin'.
shrader Posted November 30, 2010 Report Posted November 30, 2010 Someone should tell Quinn to stop denying all the rumors, get off his ass, and start getting this deal done. If they are working one something, do you really think a quick phone call to Harrington is really going to slow things down at all?
Stoner Posted November 30, 2010 Report Posted November 30, 2010 Not necessarily. Just sayin'. A comment on LQ's credibility? Mike Schopp just said the sudden news today is that the Sabres are being sold. That's quite a leap. It's always good when the stickler prick is caught screwing up the known facts.
Taro T Posted November 30, 2010 Report Posted November 30, 2010 A comment on LQ's credibility? Mike Schopp just said the sudden news today is that the Sabres are being sold. That's quite a leap. It's always good when the stickler prick is caught screwing up the known facts. Why would you ask that?
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