Archives for June 21, 2002

'"We're not in a position where we're selling off players," Regier said. "We're going to try and make this as competitive a hockey club as we possibly can."' … [Read more...] about Owners yield control of Sabres

'Sabres general manager Darcy Regier said he has a budget that's similar to the one he operated under last year and that his payroll would be similar. "We have some money because we've had a 70-per-cent renewal on our season tickets, and I feel good about what's happening," Regier said.' … [Read more...] about Sabres will rattle in Buffalo

'The Sabres owe Adelphia in the neighborhood of 150 million dollars. Most of that money is reportedly tied to HSBC Arena expenses. Erie County Executive Joel Giambra said, "Based on recent information I have, that the building doesn't lose as much money as purported in the past."' … [Read more...] about NHL Moving Quickly to Find New Owner for the Buffalo Sabres

In a matter of two months, John Rigas's fortune has dissipated so rapidly that he is on the verge of declaring bankruptcy and the Buffalo Sabres had to be taken over by the National Hockey League. It was like a snowball gathering speed and size as it traveled down the mountain top. … [Read more...] about NHL takes over commands of the Sabres ship

For the former Pickering Panther, signing a contract took a lot of weight off his shoulders as it ended two years of uncertainty about whether he would ever sign with the Sabres, which drafted him in the eighth round, 258th overall. … [Read more...] about McMorrow really excited and relieved after signing with Sabres

Bettman said the NHL is seeking a local buyer for the Sabres, who joined the league as an expansion team in 1970, and that Adelphias financial situation wont affect the sale of the team. … [Read more...] about Sabres become property of the NHL

'NHL Commissioner Gary Bettman, during and after a 40-minute news conference dominated by the Sabres' situation, repeatedly emphasized Thursday that the league is dealing only with potential investors who would keep the team in Buffalo.' … [Read more...] about NHL takes control of Sabres

'When several other outstanding financial items are tallied, including a $300,000 debt the city owes to the Sabres, officials estimate that the hockey team owes Buffalo between $1.5 million and $1.7 million.' … [Read more...] about Common Council, attorneys meet to discuss Sabres' debts

'Regardless of who owns the Sabres, the front office isn't interested in bringing aboard any unrestricted free agents this offseason. The Sabres instead will concentrate only on signing their nine restricted free agents.' … [Read more...] about Free agent hunt restricted to Buffalo's own

'I hope Gary Bettman understands how important Buffalo is to his league. I hope he realizes that the Knoxes and the Rigases never really owned the team. The Sabres belong to the people of Buffalo, to the hockey fans. They have the kind of ownership that's backed not by money but by memories, by the currency of human emotion.' … [Read more...] about Losing Sabres would mean losing culture

'And if the financially troubled Sabres need to trim their payroll, they might want to start with a couple of disenfranchised players who will make seven figures this season.' … [Read more...] about Rasmussen, Woolley hope deals are drafted

'"There's been a lot of rumours about (the Sabres) moving to Portland," said Blackhawks owner Bill Wirtz, "but there's loyalty in this league." Buffalo has been a good member for 30 years, and they want them around."' … [Read more...] about Wanted: New owners for the Buffalo Sabres

'"We're going to operate it until we find a buyer. If I only have to do it for two more days it means we've found a buyer. "But realistically it's going to take a couple of months, if not longer. If we don't have a buyer in place and weren't ready to close, I would envision us finding appropriate financing and operating the team through … [Read more...] about NHL Takes Over Operation of Troubled Sabres

'"The league is not and will not be responsible for any of the Sabres' debt," Bettman said.' … [Read more...] about NHL to take over operations for Sabres franchise

It seems highly likely that one of these people would be Jeremy Jacobs, who owns the Boston Bruins but whose corporate headquarters are in Buffalo. Furthermore, a Jacobs company paid about $35 million for the concession rights in the HSBC Arena. If the Sabres were to leave town, that investment would lose most of its value, so it is probably Jacobs who will provide the Sabres … [Read more...] about Sabres fall in Bettmans lap