Terry Pegula buying the Buffalo Sabres discussion

[Two or less]

A comment on LQ's credibility?

 

Mike Schopp just said the sudden news today is that the Sabres are being sold. That's quite a leap. It's always good when the stickler prick is caught screwing up the known facts.

 

When did Schopp say that? He's been on WGR for about an hour now and he keeps saying he talked to Quinn at 10am and Quinn flat out told him not letter was signed....

[PASabreFan]

The difference is, this dude is a big Sabres fan with ties to Western NY.... while Ice Edge was going to move the team to Canada, or atleast 5 games.

 

It just seems too good to be true though.

 

Not sure about "big" yet. He has said he was torn by the 75 finals, as he was a Flyers fan and had recently moved to WNY.

[Two or less]

Guys, read this article- stright from the mouth of the Penn State head coach-

 

http://www.statecollege.com/news/local-news/battista-one-of-the-happiest-days-of-my-life-527050/

[notwoz]

Hope this doesn't get fracked up. Sorry, that was bad...

 

That's the word I was trying to think of last night.

[Calvin]

Guys, read this article- stright from the mouth of the Penn State head coach-

 

http://www.statecollege.com/news/local-news/battista-one-of-the-happiest-days-of-my-life-527050/

that is pretty incredible.. he sounds too good to be true.

 

is it.. is it possible that karma has gone full circle and that we might actually have good things coming to Buffalo?

 

i think i am more excited about today than i have been on the opening day of free agency, trade deadline day and draft day for the last five years combined!

[notwoz]

The Sabres have further clarified that statement to me, indicating no letter has been signed at any price and not just at the figure quoted by The Hockey News earlier today. We'll have to see where this goes. A story changing by the hour.

 

---MIke Harrington

 

 

We're all hyperventilating because we want to see an owner who's committed to putting together a legitimate contender for the Stanley Cup. In the meantime LQ churns out stuff that sounds like weasel words -- and we haven't heard from the would-be potential buyer.

 

For all we know, the letter of intent (if it exists) could simply say that the two sides plan to enter negotiations to buy the team, without mentioning a price. In such a case, LQ is correct because no letter that mentions a price tag has been signed.

 

What's curious is where this $150 million number came from. Again, for all we know that number was kicked around during an exploratory conversation, as in, "How much would it take for you to sell the team? Well, we won't listen to anything less that $150 million." Again that's speculation on my part. But the number had to come from somewhere, although the reporter who used it could have had the wool pulled over his eyes, or maybe he incorrectly read something into what he was told and jumped to an unwarranted conclusion.

 

In any case, it's certainly spiced up an otherwise boring news week for the Sabres.

[nfreeman]

One other possibility is that a draft letter of intent has been delivered (by either party, but usually the buyer) but not signed -- which would be the case if, e.g., the parties were not in agreement on key terms such as price, timing, etc.

 

Having said that, LQ's direct denial makes me think there is no deal -- at least not yet.

[Taro T]

One other possibility is that a draft letter of intent has been delivered (by either party, but usually the buyer) but not signed -- which would be the case if, e.g., the parties were not in agreement on key terms such as price, timing, etc.

 

Having said that, LQ's direct denial makes me think there is no deal -- at least not yet.

Oh, there most certainly isn't an agreement yet.

 

However, the wording of the denials makes me believe that we very likely may find a new owner at One Seymour H Knox III Plaza by Easter.

[BuffaTB]

This deal going down would end mediocrity in Buffalo. Thus, this deal will never go down.

[notwoz]

One other possibility is that a draft letter of intent has been delivered (by either party, but usually the buyer) but not signed -- which would be the case if, e.g., the parties were not in agreement on key terms such as price, timing, etc.

 

Having said that, LQ's direct denial makes me think there is no deal -- at least not yet.

 

 

That's entirely possible and LQ may be trying to throw some cold water on the speculation because the stories have gotten ahead of real developments. If that's the case, he's just trying to manage expectations. If he didn't, then we can expect to read stories about how the negotiations "collapsed" even though there was no real negotiating going on.

 

Again, strictly conjecture on my part, but it does add some spice to a week with no games to gripe about.

[nfreeman]

Oh, there most certainly isn't an agreement yet.

 

However, the wording of the denials makes me believe that we very likely may find a new owner at One Seymour H Knox III Plaza by Easter.

 

What in particular makes you think this?

 

Here is LQ's entire statement:

 

Reports regarding the sale of the Buffalo Sabres tend to surface from time to time. There have been several inquiries in the past few years regarding this subject. Our company policy is we do not comment on them because people make inquiries all the time. Some of these inquiries are serious, some are not, some make the media and others do not. The report that a $150 million letter of intent has been signed is simply not true.

 

While it's possible that an LOI for $155MM (or some other number in the ballpark) could have been signed without this making his statement untrue, I tend to doubt this. I can see LQ dissembling and/or being evasive, but not coming out with something that close to a direct lie. I don't see what purpose that would serve.

 

So that leaves me thinking that perhaps an offer has been made, but not accepted. If that's the case, then why would this be any different from any other rumor that's popped up over the years?

 

I must admit that I was hopeful that the sale story was true when I first read it, but now I'm pretty skeptical. I wouldn't be surprised if the new guy has indeed offered $150MM -- but I think $150MM is well below market value for the Sabres and I would guess that TG has said thanks but no thanks unless you sweeten the pot.

[PASabreFan]

I must admit that I was hopeful that the sale story was true when I first read it, but now I'm pretty skeptical. I wouldn't be surprised if the new guy has indeed offered $150MM -- but I think $150MM is well below market value for the Sabres and I would guess that TG has said thanks but no thanks unless you sweeten the pot.

That's pretty intriguing. Assuming Ken Campbell and the THN are reputable, the source must be pretty good. Is it possible the Pegula camp put this story out there to put pressure on Golisano in the negotiations?

[PASabreFan]

While it's possible that an LOI for $155MM (or some other number in the ballpark) could have been signed without this making his statement untrue, I tend to doubt this. I can see LQ dissembling and/or being evasive, but not coming out with something that close to a direct lie. I don't see what purpose that would serve.

The Sabres have explicitly shot down the letter of intent story by saying there is no letter of intent at any price. Mike Harrington reported that on the News blog.

[Eleven]

The Sabres have explicitly shot down the letter of intent story by saying there is no letter of intent at any price. Mike Harrington reported that on the News blog.

 

But he didn't say who from the Sabres shot it down.

 

Kidding.

 

Anyway, I'm done with this for the day; time to get back to work!

[notwoz]

That's pretty intriguing. Assuming Ken Campbell and the THN are reputable, the source must be pretty good. Is it possible the Pegula camp put this story out there to put pressure on Golisano in the negotiations?

 

Just playing devil's advocate here -- maybe the Sabres planted the story to put pressure on Pegula to raise the price?

[PASabreFan]

Just playing devil's advocate here -- maybe the Sabres planted the story to put pressure on Pegula to raise the price?

 

Mind. Blown.

[spndnchz]

Word on the street:

 

Quinn just had 150 shredders dropped off at HSBC. Surely this is the 150 big ones they're talking about.

[inkman]

Well not going to get excited until something is set in stone.

 

As for this season, this all but dooms our fragile little children, into a season to forget.

 

Lastly, anyone catch his old lady's maiden name? She is supposedly from my hometown and was just curious.

[LabattBlue]

The media needs to stop bothering LQ with requests for a statement. He only has time for one thing right now and that is HOW TO SAVE HIS JOB!

 

Pegula's first order of business if he does buy the Sabres, is to talk to Rene Robert(see my sig).

[henysgol]

I hope and pray this is true. Imagine, an owner who likes hockey, and actually KNOWS something about it! Golisano only bought the Sabres to make money. The main reason we haven't won a cup yet---he's only concerned with saving money and making money. He never gave a rat's butt about bringing a championship to Buffalo. If he did, he would have spared no expense to acquire superstar players, instead of "building on a budget". And if TG knew anything about professional hockey, he wouldn't have let his management OVERPAY for players who SUCK!

[Ghost of Dwight Drane]

Oooohhhhh Mr. Drane, you have a call on the white courtesy phone.

 

I'm too excited for inuendo. Although a telling sign of the level of excitement here is that nobody touched chz's panties. That's an oxymoron in itself.

 

 

Ink...her name was Kerr.

 

Open letter to Mike Pegula....Terry's son. Mike, there is a 70% chance you read this. Whatever you do...please make sure your dad gets Larry Quinn as far away from this team as possible. Regier should go as well, but I will personally be counted in for season tickets again if Quinn is gone, and you will have the support of the community at large. Your dad sounds like he has his act together, so hopefully this is a moot point, but just in case you are a lurker....PLEASE...rid us of this cancer.

 

If this goes down, I will hand out candy in the streets of downtown.

 

Our best bet is that Quinn sees the overall impact of bringing Pegula back to Buffalo. Money like that trickles down, and considering Quinn has his grubby little hands in many projects, his position with the Sabres could be child's play when thinking of the overall economic impact to the city if Pegula takes hold here. I'm sure everyone from Roswell, the local colleges, etc., are licking their chops right now. When you are talking $4 billion of real money, that equates to $30 million a year in charity for the average honorable fella.

 

 

This deal almost has to get done at this point. The fans are shunning the team at the box office, and if they get toyed with as a negotiating ploy, only to see the same lackies in power....there will be an even bigger backlash.

 

And Dryden asked why some of us still post? For a day like today.......charge that hill and we have FREEDOM!!!!

[Iron Crotch]

I expect the deal to be done soon, regardless of what Quinn says. Golisano knows the tax implications of the capital gains tax (likely) escalating from the current 15% at the end of the year... so he knows the time to sell is now. Golisano will make a handsome profit and we'll finally have an owner who loves the sport and hopefully will spend to bring in the players we need to compete for a cup (the key word being "hopefully").

[notwoz]

Mind. Blown.

 

Sorry -- no comprende

[plenzmd1]

No word from Pegula or TG yet yet...hmm interesting.

[Taro T]

What in particular makes you think this?

 

Here is LQ's entire statement:

 

 

 

While it's possible that an LOI for $155MM (or some other number in the ballpark) could have been signed without this making his statement untrue, I tend to doubt this. I can see LQ dissembling and/or being evasive, but not coming out with something that close to a direct lie. I don't see what purpose that would serve.

Past history.

So that leaves me thinking that perhaps an offer has been made, but not accepted. If that's the case, then why would this be any different from any other rumor that's popped up over the years?

 

I must admit that I was hopeful that the sale story was true when I first read it, but now I'm pretty skeptical. I wouldn't be surprised if the new guy has indeed offered $150MM -- but I think $150MM is well below market value for the Sabres and I would guess that TG has said thanks but no thanks unless you sweeten the pot.

Golisano was quite adamant when he bought the team that his motivating factor was in keeping the team in WNY. (Yes, the potential for a relatively low risk profit would have figured in as well.) The Sabres organization has also publicly stated that they wouldn't sell to someone that would move the team out of WNY (primarily in regards to Balsillie rumors).

 

Golisano has in the past indicated a willingness to sell a portion (perhaps the entire portion) of his interest in the Sabres provided the team would stay in Buffalo. We haven't had any credible suitors with ties to WNY in the past.

 

This current paramour has ties to WNY, has a love of hockey, has the wherewithal to purchase the team, and has a philanthropic bent (much like TG has). There has not been any other candidate to surface that meets all these criteria.

 

While I am no fan of Ken Campbell (I find him to be the least impressive of THN's regular columnists), I don't see him running a column like this without having a source high up in either Pegula's or the Sabres' orgs. I don't see what Pegula gains from telling Campbell (having Campbell told?) that he's made an offer if he and Golisano aren't at least getting to the point of Golisano considering the offer. If there is no smoke whatsoever, I don't see this report having come out of 1SHK3P.

 

Those are the reasons that I believe this rumor is different than past rumors.