'When asked what type of owner he will be, Golisano said there must be balance. "It’s got to be a balance and a great experience for fans; it's got to be good for the employees, both the players and the staff; and the owners got to have a fair chance…so, first of all, I have to deal with the balance of those three responsibilities," he said.'
Archives for March 14, 2003
'Paychex Inc. CEO Thomas Golisano today offered to pay full price to acquire the bankrupt Buffalo Sabres hockey team, the Associated Press reported. Golisano reportedly offered $92 million, which is what Forbes magazine recently estimated the team is worth.'
'Unlike the failed proposal from Mark Hamister and Todd Berman, Golisano's bid includes no government aid. "That was one of my criteria," Golisano said. "I believe that these type of transactions can take place without taxpayers having to finance them."'
'According to court documents filed in U.S. Bankruptcy Court in Buffalo, if the National Hockey League does not receive an alternative bid of at least $95 million during a court auction, the team will be awarded to Golisano, the chairman and chief executive of software maker Paychex Inc.'
'“This represents an opportunity for the Sabres to move forward under strong ownership and remain in Buffalo,'' NHL Commissioner Gary Bettman said during a press conference at HSBC Arena in Buffalo.'
'Adelphia's approval was integral, and the company considers Golisano's the best offer it could expect to get.'
I want to thank all of you who voted against me in the last election, because quite frankly I would not be here today, Golisano joked.
'"His responsibility level has doubled or tripled with me and Grats gone," Ray said. "It's such a young team. There's so much more responsibility that he's never had before."'
'D Alexei Zhitnik hasn't scored a goal at home since Jan. 5, 2001.'
'Even though an agreement has been signed, there remains a 30-day period when someone else could put in a higher bid for the team through U.S. Bankruptcy Court. That is considered highly unlikely.'