Larry Quinn - Ownership stake under OSP

[LabattBlue]

Random question(I googled it, but no luck)…

Anyone know what percentage of the team that Quinn was gifted by OSP?

[Eleven]

13 minutes ago, LabattBlue said:

Random question(I googled it, but no luck)…

Anyone know what percentage of the team that Quinn was gifted by OSP?

I think it was 5%.

[That Aud Smell]

29 minutes ago, Eleven said:

I think it was 5%.

This sounds right. If it's not the precise number, it's close.

Also, I'll quibble with the term "gift." It was a form of compensation, I reckon.

[Taro T]

32 minutes ago, Eleven said:

I think it was 5%.

That's what was reported.  

Considering it was a private entity and was sold to a single owner, not sure how anybody but a couple of accountants not involved in the Golisano ownership group and the Pegulas would know for certain.

[Eleven]

5 minutes ago, That Aud Smell said:

This sounds right. If it's not the precise number, it's close.

Also, I'll quibble with the term "gift." It was a form of compensation, I reckon.

Yes, compensation.

1 minute ago, Taro T said:

That's what was reported.  

Considering it was a private entity and was sold to a single owner, not sure how anybody but a couple of accountants not involved in the Golisano ownership group and the Pegulas would know for certain.

Yeah there's no way to tell for sure.  It seems like a silly thing to mischaracterize, though.

[That Aud Smell]

Also, shoutout to OSP for making his way into the news in connection with Steve Pigeon's having violated the terms of his supervised release from his federal and state convictions for making an illegal campaign contribution. Golisano reportedly told Pidgeon's current attorney that Pigeon is providing key consultancy services in support of the launch of a business school that Golisano has created and endowed.

Pigeon's current attorney is representing Pidgeon in a criminal case involving allegations that Pidgeon sexually assaulted a girl younger than 11 years old. 😬

[Taro T]

Just now, Eleven said:

Yes, compensation.

Yeah there's no way to tell for sure.  It seems like a silly thing to mischaracterize, though.

When egos are involved a lot of stuff gets mischaracterized for silly reasons or otherwise.  

But, have no reason to believe he didn't own roughly a 5% stake in the team.  Was merely pointing out that whatever #'s are out there are literally estimates or more likely guestimates.

[LabattBlue]

52 minutes ago, Eleven said:

I think it was 5%.

So at that percentage, Quinny was “compensated” 9.5mil.   Nice gig for being a construction manager, turned team president. 😂

[That Aud Smell]

1 minute ago, LabattBlue said:

So at that percentage, Quinny was “compensated” 9.5mil.   Nice gig for being a construction manager, turned team president. 😂

I keep waiting for his quotes to be in the paper surrounding the bizarre psychodrama going on at Nardin Academy. (He serves on the board there.)

[PASabreFan]

3 hours ago, LabattBlue said:

So at that percentage, Quinny was “compensated” 9.5mil.   Nice gig for being a construction manager, turned team president. 😂

Correlation or causation, but whenever LQ was around Buffalo actually enjoyed having a franchise in the NHL.

[Eleven]

54 minutes ago, PASabreFan said:

Correlation or causation, but whenever LQ was around Buffalo actually enjoyed having a franchise in the NHL.

Yeah, you never complained about any decisions that were influenced by him, did you...now THAT was a meddling owner.

Edited April 24, 2023 by Eleven

[JohnC]

8 hours ago, LabattBlue said:

Random question(I googled it, but no luck)…

Anyone know what percentage of the team that Quinn was gifted by OSP?

This link taken from NHL.com doesn't answer your question about what percentage of ownership Quinn has. However, it is a 5 min + segment that talks about him getting involved with Golisano to buy the Sabres. At the end of the segment, Quinn talks about how important the Commissioner, Bettman, was in keeping the franchise in Buffalo. It should be highlighted that Golisano, a person who had little interest in hockey, was instrumental in keeping the franchise in Buffalo. 

https://www.nhl.com/sabres/video/larry-quinn-interview-21320/t-277437090/c-5252437

[Pimlach]

5 hours ago, PASabreFan said:

Correlation or causation, but whenever LQ was around Buffalo actually enjoyed having a franchise in the NHL.

Rene Robert would not agree. 

[LabattBlue]

7 minutes ago, Pimlach said:

Rene Robert would not agree. 

I miss having the Robert vs Quinn exchange as my signature. 😂

[Pimlach]

2 hours ago, JohnC said:

This link taken from NHL.com doesn't answer your question about what percentage of ownership Quinn has. However, it is a 5 min + segment that talks about him getting involved with Golisano to buy the Sabres. At the end of the segment, Quinn talks about how important the Commissioner, Bettman, was in keeping the franchise in Buffalo. It should be highlighted that Golisano, a person who had little interest in hockey, was instrumental in keeping the franchise in Buffalo. 

https://www.nhl.com/sabres/video/larry-quinn-interview-21320/t-277437090/c-5252437

Golisano kept the franchise in Buffalo, his team got really good even though he didn’t desire it or enable it, and he proved his business savvy - bought low and sold high. 

[Broken Ankles]

1 hour ago, Pimlach said:

Rene Robert would not agree. 

For those not in the know, can you expand?  

[Eleven]

4 minutes ago, Broken Ankles said:

For those not in the know, can you expand?  

I believe it went something like this:

RR:  "Do you think I could be a real estate developer?"

LQ:  "No."

RR:  "Then what makes you think you're a hockey man?"

 

@LabattBlue will have it more exactly.

[LabattBlue]

4 minutes ago, Eleven said:

I believe it went something like this:

RR:  "Do you think I could be a real estate developer?"

LQ:  "No."

RR:  "Then what makes you think you're a hockey man?"

 

@LabattBlue will have it more exactly.

Hahaha.  Close enough.  I will have to try and find it. 

[Night Train]

One thing about Quinn. Whatever he's serving, some sort of issue is going on. Buffalo School board and a lot of private Board of Directors. I do remember reading he did get 10 Mil for the team sale. Whatever. I never resent others for $. Petty. It's working to make things better in whatever you do. 

[JohnC]

9 hours ago, Pimlach said:

Golisano kept the franchise in Buffalo, his team got really good even though he didn’t desire it or enable it, and he proved his business savvy - bought low and sold high. 

Let me add to what you said about Golisano's business savvy. What Golisano did when he bought the team is closely review the books from the prior ownership. What he saw was financial chaos and a lot of intermingling of funds. He quickly got that in order. He established hard budgets for all the departments including the core of the business, the hockey operation. Although the tight budgets crimped the hockey staff from making some decisions they wanted to make, it benefited the hockey operation and business in general by forcing the operaton to be more disciplined and analytical when making decisions. He quickly changed the culture and ethos of the franchise by bringing order and discipline within the company. 

As you point out, he demonstrated his business savvy by buying low and selling high. He got a good return on his investment in a relatively short period of time. Good for him.

There is another aspect relating to character in this story. The franchise was in bankruptcy. When he took-over he wasn't required to pay all the debts accrued from the vendors and service providers because of the bankruptcy rules. He paid them off anyway. When asked why, he simply said it was the right thing to do and that he wasn't in the business of stiffing people. What's clear is that Tom Golisano is a tough businessman; and he is also an honorable person. 

[PASabreFan]

17 hours ago, Eleven said:

Yeah, you never complained about any decisions that were influenced by him, did you...now THAT was a meddling owner.

That seems neither here nor there.

You'd go back to the LQ days in an instant, and so would I.

What I liked about Tom was that he admitted he didn't know a puck from a meatball.

And when they showed him after Briere's OT goal against the Canes, he had his hands on his head. Shock. Elation. Not an assistant coach or GM in sight.

[PASabreFan]

[Pimlach]

1 hour ago, JohnC said:

Let me add to what you said about Golisano's business savvy. What Golisano did when he bought the team is closely review the books from the prior ownership. What he saw was financial chaos and a lot of intermingling of funds. He quickly got that in order. He established hard budgets for all the departments including the core of the business, the hockey operation. Although the tight budgets crimped the hockey staff from making some decisions they wanted to make, it benefited the hockey operation and business in general by forcing the operaton to be more disciplined and analytical when making decisions. He quickly changed the culture and ethos of the franchise by bringing order and discipline within the company. 

As you point out, he demonstrated his business savvy by buying low and selling high. He got a good return on his investment in a relatively short period of time. Good for him.

There is another aspect relating to character in this story. The franchise was in bankruptcy. When he took-over he wasn't required to pay all the debts accrued from the vendors and service providers because of the bankruptcy rules. He paid them off anyway. When asked why, he simply said it was the right thing to do and that he wasn't in the business of stiffing people. What's clear is that Tom Golisano is a tough businessman; and he is also an honorable person. 

TRUE.  Keep in mind had he "stiffed" the key suppliers/venders he would have been looking for new ones - spending money on proposal writing/ cost evaluations, new contracts to negotiate, possibly settling for lower quality, unfavorable schedules, higher cost, poorer relationships, unwanted change, etc.  -  so taking care of the supply chain was both honorable and smart business for him.  

[Eleven]

24 minutes ago, PASabreFan said:

You'd go back to the LQ days in an instant, and so would I.

Which LQ days?  2006?  Sure.  2010?  No, and neither would you.  And you complained about the arena being a "library" *during* LQ's tenure.  I think you're suffering from some false nostalgia, here.

10 minutes ago, Pimlach said:

TRUE.  Keep in mind had he "stiffed" the key suppliers/venders he would have been looking for new ones - spending money on proposal writing/ cost evaluations, new contracts to negotiate, possibly settling for lower quality, unfavorable schedules, higher cost, poorer relationships, unwanted change, etc.  -  so taking care of the supply chain was both honorable and smart business for him.  

Not that I want to defend Quinn, but I have a friend who has supplied the Sabres through three ownership groups, and the Bills through two, and stiffing suppliers (or being VERY slow payers) seems to be a constant.

[PASabreFan]

2 hours ago, Eleven said:

Which LQ days?  2006?  Sure.  2010?  No, and neither would you.  And you complained about the arena being a "library" *during* LQ's tenure.  I think you're suffering from some false nostalgia, here.

Not that I want to defend Quinn, but I have a friend who has supplied the Sabres through three ownership groups, and the Bills through two, and stiffing suppliers (or being VERY slow payers) seems to be a constant.

Are you forgetting his first stent?