Archives for May 31, 2002

'If Adelphia defaults and goes into bankruptcy and the Sabres are pledged against collateral for the 150 million dollar loan, then it's a real possibility the Sabres could be sold or be taken over. If there is a bankruptcy and local investors do not step in, the Sabres could be skating in another city.' … [Read more...] about Major Investor May Help Save Adelphia Communications

'"There's a group of people that have the financial resources and the desire to become involved in the team if there's an opportunity," Giambra said. That, combined with assurances he received from NHL commissioner Gary Bettman to keep the team in Buffalo, left Giambra optimistic about the team's future in the city with or without the Rigas family … [Read more...] about Rigas' financial troubles place future of Sabres in question

'Speculation about a local ownership group for the National Hockey League team centers on a small group of local business executives, including Mark E. Hamister and Robert E. Rich Jr. Rich was part of the previous Sabres ownership group, and Hamister owns the Buffalo Destroyers Arena League football team that plays in HSBC Arena.' … [Read more...] about Local purchase of Sabres under discussion

'Adelphia Communications' financial problems will not prevent Buffalo Sabres General Manager Darcy Regier from signing five prospects before Saturday, the deadline for teams to reach agreements with certain picks from the 2000 NHL entry draft.' … [Read more...] about Regier free to sign draft picks despite money woes