'"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."'
Archives for June 21, 2002
'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.'
'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."'
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.
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.
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.
'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.'
'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.'
'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.'
'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.'