Could the Sabres be for sale?

[dudacek]

Why would they be?

The Pegulas are trying to amass capital for a massive new stadium project for their flagship holding, the Bills, after a year where revenue sources have been hard to come by.

What evidence have we seen this might even be a consideration?

Nothing concrete at all. I remember a Tweet by a Buffalo media personality earlier this year that was quickly discredited by media more closely connected to Buffalo Sabres coverage. That was followed by a suggestion by well-connected former NHL GM and national hockey media personality Doug McLean, where he referenced “a friend of John Torterella” as an interested buyer. The report did not generate legs.

Circumstantially, the Pegulas have been downsizing and divesting themselves of many of their secondary holdings, as well as gutting overhead with the Sabres, bringing in an insider from their business operations side to run the team, and preparing to sell off their three most fungible hockey assets for inexpensive futures. These are behaviours that can be simply chalked up to normal business operations during tough times. But they are also moves I associate with major corporations preparing a property for sale.

@Buffalonill had started a similar thread based on an anonymous post on another hockey forum that got deleted. I’d like to see more conversation on the topic

Edited July 19, 2021 by dudacek

[PromoTheRobot]

You can start a thread on anything you like but what's the point of discussing that is only a theory? Just to give it legs? Like the curious election theory that keeps growing without evidence?

Edited July 19, 2021 by PromoTheRobot

[I-90 W]

2 minutes ago, PromoTheRobot said:

You can start a thread on anything you like but what's the point of discussing what is only a theory? Just to give it legs? Like the curious election theory keeps growing without evidence?

He’s been doing the same with Eichel trades for potential trade partners. Those threads, including this one, are thought provoking and well done. No reason why this subject should be off limits IMO.

[I-90 W]

What the Pegulas have done with this once proud franchise has been a disgrace. It seems with their acquisition of the Bills, it’s possible that the Sabres are now second fiddle anyhow (NFL is much larger than the NHL). I am thankful for their development of the downtown waterfront area, and will not take that from them. But beyond that, it’s been a disgrace. 

[PromoTheRobot]

10 minutes ago, I-90 W said:

What the Pegulas have done with this once proud franchise has been a disgrace. It seems with their acquisition of the Bills, it’s possible that the Sabres are now second fiddle anyhow (NFL is much larger than the NHL). I am thankful for their development of the downtown waterfront area, and will not take that from them. But beyond that, it’s been a disgrace. 

It's been a great disappointment but I don't believe the Sabres are second fiddle at all. In fact all I hear is how much Terry meddles in the team. As poor a job as they've done, I don't for one minute believe they don't care. The fact they got the Bills right make me feel they will straighten the Sabres out eventually. Maybe with this regime.

[Weave]

I must have missed some entertaining stuff if that other thread got nuked.

[PerreaultForever]

Why would they sell? 

maybe they're tired of reading on the internet how it's all their fault. 

maybe they've given up on the team. 

maybe they analyzed everything and decided they'd dug the hole too deep and can't see a way to fix it any time soon.

maybe they want the money for a new football stadium.

maybe they're planning to retire to Florida. 

maybe they've just decided to do something else. 

Rich people and their toys, anything is possible, but there's no reason at this time to think it's in the works. 

[Sabres Fan in NS]

8 minutes ago, Weave said:

I must have missed some entertaining stuff if that other thread got nuked.

It was certainly a lot of things.  Entertaining (sort of) was not really one of them.

[Sabres Fan in NS]

2 hours ago, dudacek said:

Why would they be?

The Pegulas are trying to amass capital for a massive new stadium project for their flagship holding, the Bills, after a year where revenue sources have been hard to come by.

What evidence have we seen this might even be a consideration?

Nothing concrete at all. I remember a Tweet by a Buffalo media personality earlier this year that was quickly discredited by media more closely connected to Buffalo Sabres coverage. That was followed by a suggestion by well-connected former NHL GM and national hockey media personality Doug McLean, where he referenced “a friend of John Torterella” as an interested buyer. The report did not generate legs.

Circumstantially, the Pegulas have been downsizing and divesting themselves of many of their secondary holdings, as well as gutting overhead with the Sabres, bringing in an insider from their business operations side to run the team, and preparing to sell off their three most fungible hockey assets for inexpensive futures. These are behaviours that can be simply chalked up to normal business operations during tough times. But they are also moves I associate with major corporations preparing a property for sale.

@Buffalonill had started a similar thread based on an anonymous post on another hockey forum that got deleted. I’d like to see more conversation on the topic

Selling the Sabres will not help very much on the capital amassing front.  They are billionairs they do not need funding for a stadium.

I do not believe they will sell the Sabres.  If for no other reason than tax loss advantage they no doubt provide.  I also believe that they really do like owning the Sabres as part of their One Buffalo Empire.

[PromoTheRobot]

2 hours ago, I-90 W said:

He’s been doing the same with Eichel trades for potential trade partners. Those threads, including this one, are thought provoking and well done. No reason why this subject should be off limits IMO.

A possible Eichel trade is something that has been reported repeatedly. It's not remotely the same as an alleged Sabres sale. Two anonymous social media posts is not smoke.

[apuszczalowski]

Anything is possible, how many knew the Sabres were up for sale when the Pegulas bought them? I remember it being a bit of a surprise when it was announced that TG was selling. They weren't sitting around with a 'For Sale' sign hanging on the front door of the arena back then.

[Andrew Amerk]

3 minutes ago, apuszczalowski said:

Anything is possible, how many knew the Sabres were up for sale when the Pegulas bought them? I remember it being a bit of a surprise when it was announced that TG was selling. They weren't sitting around with a 'For Sale' sign hanging on the front door of the arena back then.

My memories could be wrong, but I thought at the time it was no secret that the Sabres were for sale, but that the only bites TG was getting were from people who would potentially move the team, and he only wanted to sell to someone who would keep them in Buffalo. 

[apuszczalowski]

52 minutes ago, Andrew Amerk said:

My memories could be wrong, but I thought at the time it was no secret that the Sabres were for sale, but that the only bites TG was getting were from people who would potentially move the team, and he only wanted to sell to someone who would keep them in Buffalo. 

From what I remember, there was rumors of Balsillie wanting a franchise and looking at the Sabres before Pittsburgh to move them to Waterloo (league may have saw something no one else did because it doesn't seem like he would have been an owner long). There may have been talk that TG could sell, but I don't ever recall him or anyone saying he was actively looking to sell them. Balsillie at the time was actively looking for a franchise to move. For some reason, the way I remember it was that it happened fast and it was quickly announce TG agreed to sell the team to Terry. The Bills on the other hand, they were announced for sale and the Pegulas were the only ones guaranteeing they stay, the other person whos name can't be spoken around here who no one really knew his intentions, and Bon Jovi/Rodgers family whom it was assumed would relocate them.

[kas23]

2 hours ago, New Scotland (NS) said:

Selling the Sabres will not help very much on the capital amassing front.  They are billionairs they do not need funding for a stadium.

I do not believe they will sell the Sabres.  If for no other reason than tax loss advantage they no doubt provide.  I also believe that they really do like owning the Sabres as part of their One Buffalo Empire.

SoFi Stadium in LA has cost over $5B to construct. Alligiant Stadium in Las Vegas cost $1.9B. MetLife Stadium in NY cost about $1.7B (about $2B in today’s money even though it was built in 2017).

Terry Pegula’s net worth (including assets like his teams) is $5.4B. Are you suggesting he’s going to spend about 50% of his net worth on building a stadium in Buffalo, NY?

[Andrew Amerk]

9 minutes ago, apuszczalowski said:

From what I remember, there was rumors of Balsillie wanting a franchise and looking at the Sabres before Pittsburgh to move them to Waterloo (league may have saw something no one else did because it doesn't seem like he would have been an owner long). There may have been talk that TG could sell, but I don't ever recall him or anyone saying he was actively looking to sell them. Balsillie at the time was actively looking for a franchise to move. For some reason, the way I remember it was that it happened fast and it was quickly announce TG agreed to sell the team to Terry. The Bills on the other hand, they were announced for sale and the Pegulas were the only ones guaranteeing they stay, the other person whos name can't be spoken around here who no one really knew his intentions, and Bon Jovi/Rodgers family whom it was assumed would relocate them.

This sounds about right. It’s not as if TG was proactively shopping the team, but I don’t think it was a secret either that he would sell them to the right person when it came along. I don’t think Terry blindly called to buy the team.

IIRC, Balsillie offered something like $75 million more than TPeg did, but TG said no. 

[Flashsabre]

IF the Pegulas were going to sell the Sabres it would have to be to stable ownership with a guarantee that the team stays in Buffalo.

There is no way they could own the Bills with any goodwill if they sold the Sabres to someone who moved them out of town.

[dudacek]

2 hours ago, PromoTheRobot said:

A possible Eichel trade is something that has been reported repeatedly. It's not remotely the same as an alleged Sabres sale. Two anonymous social media posts is not smoke.

This is not two anonymous social media posts:

 

The Wolf one was quickly refuted by Tim Graham who tweeted “The Sabres are not for sale” and Die by the Blade’s Anthony, who called the Tweet not even 1/2 way, maybe 1/4 right.

Edited July 20, 2021 by dudacek

[spndnchz]

Like 4 months ago

[dudacek]

2 minutes ago, spndnchz said:

Like 4 months ago

Yep, the Wolf report was early March.

The Maclean one was more like a month ago.

[Andrew Amerk]

32 minutes ago, Flashsabre said:

IF the Pegulas were going to sell the Sabres it would have to be to stable ownership with a guarantee that the team stays in Buffalo.

There is no way they could own the Bills with any goodwill if they sold the Sabres to someone who moved them out of town.

Part of the agreement in buying the Sabres, was that Terry isn’t allowed to sell to someone who would move the team, IIRC. 

[Brawndo]

1 hour ago, Andrew Amerk said:

Part of the agreement in buying the Sabres, was that Terry isn’t allowed to sell to someone who would move the team, IIRC. 

This. 
 

If the Pegulas were to sell especially if they needed money for a new stadium, I could see a see a scenario where they sell 50 percent of the team and give that person control of day to day operations of the team. 

[Sabres Fan in NS]

14 hours ago, kas23 said:

SoFi Stadium in LA has cost over $5B to construct. Alligiant Stadium in Las Vegas cost $1.9B. MetLife Stadium in NY cost about $1.7B (about $2B in today’s money even though it was built in 2017).

Terry Pegula’s net worth (including assets like his teams) is $5.4B. Are you suggesting he’s going to spend about 50% of his net worth on building a stadium in Buffalo, NY?

WOW!!

I had no idea a fancy new toy costs that much.

Maybe a telethon is in order here?

[Thwomp!]

12 hours ago, Brawndo said:

This. 
 

If the Pegulas were to sell especially if they needed money for a new stadium, I could see a see a scenario where they sell 50 percent of the team and give that person control of day to day operations of the team. 

Too perfect to happen. 

[Xzy89c]

they are absolutely trying to sell.  They have lost 300 million since buying Sabres.  Open secret in NHL.  big question is who would buy them.  Scary answer might be no one, and Buffalo cannot support an NHL team financially.  Only reason Bills are still here is due to league revenue sharing...

[thewookie1]

13 hours ago, Andrew Amerk said:

Part of the agreement in buying the Sabres, was that Terry isn’t allowed to sell to someone who would move the team, IIRC. 

TG had his many problems as owner but one certain truth is that he truly went out of his way to keep the Sabres in Buffalo for, for all normal circumstances, forever.