Archives for May 18, 2002

'Pitts and others fear two scenarios, either of which could allow the Sabres to break their 30-year lease and move: that the Sabres or John Rigas could seek bankruptcy protection, or that the NHL could take over a troubled franchise and determine its fate. As Pitts said of any such scenario, "This could be the worst nightmare for Buffalo Sabres fans."' … [Read more...] about Hamister, Rich top list of possible team owners

'Thursday, in a bid to prop up the Sabres, New York State forgave a US$25-million loan linked to construction of the HSBC Arena. Joel Giambra, the elected head of Erie County, which includes Buffalo, said covenants prevent a buyer from moving the Sabres out of his city. "The Sabres are here to kick the ass of the Maple Leafs for a long time to come," Mr. Giambra … [Read more...] about A rust-belt city's fading high-tech hopes

'The problem for the NHL is that the value of the Sabres - already a struggling small-market team - is inextricably linked to Adelphia through loan guarantees and broadcast deals. No Adelphia, no Sabres, say financial experts. Hockey sources say it's unlikely another local buyer could step up to buy the club should the auditors and the markets sink Adelphia. Wither … [Read more...] about NHL's in trouble in U.S., too