Archives for November 20, 2002

'Ever since the Buffalo businessman completed a $134 million deal that sold off 70 percent of his health care services company in 1996, Hamister has turned his attention to sports.'

'“News like this gives us an extra boost,'' Sabres general manager Darcy Regier. “I think just the knowing: Number one, that the team is staying in Buffalo — that's the most important thing for this community — and number two, there's going to be strong ownership.'''

'"Adelphia has been involved throughout this process," Bettman said. "We are anticipating their continued cooperation in completing the sale."'

'Bettman said a closing date likely would come in the first three months of 2003. The NHL's Board of Governors still must approve the sale.'

'“We will work with Mr. Hamister to conclude the transaction as quickly as possible,'' he said.'

‘Hamister made his fortune in the nursing home and medical insurance industry and is already involved in the Buffalo-area sports scene as owner of the Buffalo Destroyers of the Arena Football League. He was known to have met with Bettman as late as last Tuesday in Buffalo. Those meetings were said to be productive. Hamister also spent that evening taking in the Sabres-Boston Bruins game in the HSBC Arena box owned by Bruins owner Jeremy Jacobs. Jacobs is a lifelong Western New York resident and has a financial stake in HSBC Arena where the Sabres play. Since he’s a powerful behind-the-scenes player in the NHL and chairman of both the NHL’s finance and audit committees, having Jacobs’ blessing is almost an open ticket in the NHL.’

'Hamister, who owns the Buffalo Destroyers of the Arena Football League as well as two other minor league football teams, is expected to discuss the sale at a news conference Thursday.'

'In the end, Hamister's bid, said to be in the neighborhood of $60 million, won out over Golisano's – largely because of the money he was able to put up-front for the team. Golisano sources say he was concerned about having enough for operating costs of the franchise and was unwilling to up his bid significantly.'

'Miller made 21 saves in his NHL debut and, despite the loss, looked rather comfortable in net.'

'The sudden flurry of phone negotiations was ignited by the long-awaited submission of Golisano's official offer. While Hamister presented his acquisition package to the league in mid-September, the failed gubernatorial candidate's bid was not submitted until Monday. Once the two offers could be weighed side-by-side, league officials were finally in a position to kick the selection process into high gear, according to an NHL source who requested anonymity.'