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Terry Pegula buying the Buffalo Sabres discussion

\GoBillsInDallas/

By \GoBillsInDallas/
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korab rules Second Liner

korab rules

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No, Jameson is the name of the exchange student that stays at Ronan Tynan's condo. I hear he's able to add half an octave to RT's voice when he does....you know...that thing.

 

No. Good Irish boys don't do... you know... that thing. I think you mean Abraham.

 

That's sort of like saying I want to marry someone, but refuse to make out with them on the ferris wheel with no strings attached.

 

No - its like saying that you really want to ###### the ###### out of that really hot chick in your english class, you just don't want to be her date at her cousin's wedding because she is in the wedding party and instead of you getting to sneak your hand up her skirt at the table, she will be at the head table with the rest of the party while you are sitting next to her pimply faced younger brother you caught peaking at your junk from the next urinal over.

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biodork First Liner

biodork

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No. Good Irish boys don't do... you know... that thing. I think you mean Abraham.

 

 

 

No - its like saying that you really want to ###### the ###### out of that really hot chick in your english class, you just don't want to be her date at her cousin's wedding because she is in the wedding party and instead of you getting to sneak your hand up her skirt at the table, she will be at the head table with the rest of the party while you are sitting next to her pimply faced younger brother you caught peaking at your junk from the next urinal over.

 

lol :worthy:

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shrader Hall of Famer

shrader

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Woah!....not with the 8 nights starting and all that jazz.....discourse please.

 

 

No. Good Irish boys don't do... you know... that thing. I think you mean Abraham.

 

According to the order of posts as I see them, GDD replied to this post before you even made it. Now I'm confused.

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korab rules Second Liner

korab rules

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According to the order of posts as I see them, GDD replied to this post before you even made it. Now I'm confused.

 

After making two separate posts, I then made a third post that was a combination of the first two posts in order to keep clutter to a minimum. I then deleted the first two posts. He responded to one of my deleted posts before I submitted the 3rd post.

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SwampD Hall of Famer

SwampD

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130+ users in the middle of the day in the middle of a five day break, man, I wish it was because the Sabres were in first place and beating teams handily. Oh well,.. sooo,.. What's going on?.. Someone is going to buy the team or something?

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Taro T Hall of Famer

Taro T

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gotcha. under "Ownership (Management)" the page says "Hockey Western New York, LLC (Centre Management)".

 

 

again, agreed.

Yeah, that's it, I think. The LP owns the team. The LLC is a partner in the LP. Again, we don't have the documents.

According to the bankruptcy filings, the LLC took possession of all the assets held by the LP. Maybe one of you fancy lawyer types could clarify that for us. Did NFHLP remain in possession of Rigas and it is now a shell, or did it get transferred to HWNYLLC when its assets were transferred? For whatever it's worth, the trademarks held by NFHLP were transferred to HWNYLLC on the date of the bankruptcy sale.

Everything Albany has is available online.

 

Hockey WNY: DOS listing

 

Niagara Frontier Hockey LP: DOS listing

 

Interesting facts: WNY Hockey is a domestic LLC formed in 2002. Niagara Frontier Hockey is a foreign LP registered in Delaware in 1988. They are both still listed as active, but that doesn't mean much of anything,

NFHLP replaced NFHC which had been formed on 11/6/69 and dissolved on 6/15/89. A lot of businesses "moved" to Delaware back then.

 

I was mildly surprised to see that NFHLP is still listed as an active concern as according to the bankruptcy papers all its assets (and those of its subsidiary Crossroads Arena LLC, which also is "active" btw) were transferred to HWNYLLC on 3/13/03. As mentioned above, I was wondering if it was a shell corp still held by Rigas, held by HWNYLLC, or still functional but a subsidiary of HWNYLLC?

 

Of course, the Crossroads Arena Corp (Arena Corp) wasn't dissolved until 2009 even though it had been formed for the sole purpose of building the Mmarena. So just because NFHLP still exists doesn't mean that it holds any assets.

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That Aud Smell Hall of Famer

That Aud Smell

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130+ users in the middle of the day in the middle of a five day break, man, I wish it was because the Sabres were in first place and beating teams handily. Oh well,.. sooo,.. What's going on?.. Someone is going to buy the team or something?

awesome.

 

According to the bankruptcy filings, the LLC took possession of all the assets held by the LP. Maybe one of you fancy lawyer types could clarify that for us. Did NFHLP remain in possession of Rigas and it is now a shell, or did it get transferred to HWNYLLC when its assets were transferred? For whatever it's worth, the trademarks held by NFHLP were transferred to HWNYLLC on the date of the bankruptcy sale.

i'm no bankruptcy attorney, but if the llc purchased the lp's assets out of the bankruptcy, then the lp is almost certainly a shorn corporate shell and the llc is the real owner. someone may be keeping the lp active in the event that the goodwill associated with the name is ever worth anything to someone -- i'm not sure who that would be (it could be the llc, actually). this would explain, though, why the llc lists the sabres hq as its address with the secretary of state, but the lp lists the address of "ct corporation" (which is a clearinghouse company that provides an address at corporations may be served with papers by the secretary of state).

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korab rules Second Liner

korab rules

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According to the bankruptcy filings, the LLC took possession of all the assets held by the LP. Maybe one of you fancy lawyer types could clarify that for us. Did NFHLP remain in possession of Rigas and it is now a shell, or did it get transferred to HWNYLLC when its assets were transferred? For whatever it's worth, the trademarks held by NFHLP were transferred to HWNYLLC on the date of the bankruptcy sale.

 

NFHLP replaced NFHC which had been formed on 11/6/69 and dissolved on 6/15/89. A lot of businesses "moved" to Delaware back then.

 

I was mildly surprised to see that NFHLP is still listed as an active concern as according to the bankruptcy papers all its assets (and those of its subsidiary Crossroads Arena LLC, which also is "active" btw) were transferred to HWNYLLC on 3/13/03. As mentioned above, I was wondering if it was a shell corp still held by Rigas, held by HWNYLLC, or still functional but a subsidiary of HWNYLLC?

 

Of course, the Crossroads Arena Corp (Arena Corp) wasn't dissolved until 2009 even though it had been formed for the sole purpose of building the Mmarena. So just because NFHLP still exists doesn't mean that it holds any assets.

 

Its very common for old partnerships, LLC's and corporations to just be left to rot. That they are active simply means they haven't been formally dissolved.

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Taro T Hall of Famer

Taro T

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awesome.

 

 

i'm no bankruptcy attorney, but if the llc purchased the lp's assets out of the bankruptcy, then the lp is almost certainly a shorn corporate shell and the llc is the real owner. someone may be keeping the lp active in the event that the goodwill associated with the name is ever worth anything to someone -- i'm not sure who that would be (it could be the llc, actually). this would explain, though, why the llc lists the sabres hq as its address with the secretary of state, but the lp lists the address of "ct corporation" (which is a clearinghouse company that provides an address at corporations may be served with papers by the secretary of state).

 

 

Its very common for old partnerships, LLC's and corporations to just be left to rot. That they are active simply means they haven't been formally dissolved.

:doh:

 

Don't know why for some reason I had thought the NFHLP ceased to exist after the bankruptcy after the assets were purchased.

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That Aud Smell Hall of Famer

That Aud Smell

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Its very common for old partnerships, LLC's and corporations to just be left to rot. That they are active simply means they haven't been formally dissolved.

true. but when you got to the SoS website, the LP is still listed as active -- someone's been paying the annual franchise fees to maintain that status, yeah?

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Two or less First Liner

Two or less

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http://blogs.buffalonews.com/sabres/2010/12/sabres-price-tag-175-million.html

 

Mike Harrington reports Golisano has asked for $175 million. Let's see if this dude is serious about buying the Sabres. Forbes estimated us at $170 mil, but the value has dropped according to Ken Campbell. $175mil may be over paying but not by that much.

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korab rules Second Liner

korab rules

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true. but when you got to the SoS website, the LP is still listed as active -- someone's been paying the annual franchise fees to maintain that status, yeah?

 

Not necessarily - i think it stays listed as active on the site until they get some sort of formal notification to change it. You think there is someone in the Department of State cross referencing active partnerships against those who have paid their fees or filed returns? Legends of the state's attention to detail are grossly overstated.

 

http://blogs.buffalonews.com/sabres/2010/12/sabres-price-tag-175-million.html

 

Mike Harrington reports Golisano has asked for $175 million. Let's see if this dude is serious about buying the Sabres. Forbes estimated us at $170 mil, but the value has dropped according to Ken Campbell. $175mil may be over paying but not by that much.

 

What's 25 million between friends? Sounds like its time for a high stakes tennis match!

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inkman Hall of Famer

inkman

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Trust me, it's dead.....this is the silver bullet that Buffalo has waited for since the inception of the Sabres

This sentiment is exactly why when new owner dude doesn't do exactly what you prescribe as their remedy, you'll be the first to complain. Let's lower our expectations a wee bit, avoiding a major let down.

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CallawaySabres First Liner

CallawaySabres

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This sentiment is exactly why when new owner dude doesn't do exactly what you prescribe as their remedy, you'll be the first to complain. Let's lower our expectations a wee bit, avoiding a major let down.

 

I will expect nothing more than a guy who loves the game as much as the fans here. That cannot be said about Golisano...

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X. Benedict All Star

X. Benedict

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This sentiment is exactly why when new owner dude doesn't do exactly what you prescribe as their remedy, you'll be the first to complain. Let's lower our expectations a wee bit, avoiding a major let down.

I don't think a new owner would bring that much immediate change.

 

Most players in the league have guaranteed contracts.

 

I think if you took the top 40 players in the league, probably 35 are with their original teams.

 

People hate to hear it, but it is the draft that has become king under this CBA.

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Ghost of Dwight Drane First Liner

Ghost of Dwight Drane

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I don't think a new owner would bring that much immediate change.

 

Most players in the league have guaranteed contracts.

 

I think if you took the top 40 players in the league, probably 35 are with their original teams.

 

People hate to hear it, but it is the draft that has become king under this CBA.

 

How about the top 200-500? Because that is how you build a team. Look at who we lost in '06. Dumont, Mckee, Grier, Pyatt. Probably 250, 300, 350 and 500 in the league.....you keep those guys and either Briere or Drury...and you are in business the past 5 years.

 

I want someone new who can identify character and skill....something Pegula claims is #1. This crew's character is about as strong as an extra on Joanie Loves Chachi.

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shrader Hall of Famer

shrader

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People hate to hear it, but it is the draft that has become king under this CBA.

 

Something they appear to be doing quite well in recent years. If the 2009 and 2010 classes wind up half as successful as the 2008 draft, they'll be in great shape... especially if there's an owner who might want to supplement that group a bit.

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