SabreSpace

Bettman said the NHL is seeking a local buyer for the Sabres, who joined the league as an expansion team in 1970, and that Adelphias financial situation wont affect the sale of the team. … [Read more...] about Sabres become property of the NHL

'NHL Commissioner Gary Bettman, during and after a 40-minute news conference dominated by the Sabres' situation, repeatedly emphasized Thursday that the league is dealing only with potential investors who would keep the team in Buffalo.' … [Read more...] about NHL takes control of Sabres

'When several other outstanding financial items are tallied, including a $300,000 debt the city owes to the Sabres, officials estimate that the hockey team owes Buffalo between $1.5 million and $1.7 million.' … [Read more...] about Common Council, attorneys meet to discuss Sabres' debts

'Regardless of who owns the Sabres, the front office isn't interested in bringing aboard any unrestricted free agents this offseason. The Sabres instead will concentrate only on signing their nine restricted free agents.' … [Read more...] about Free agent hunt restricted to Buffalo's own

'I hope Gary Bettman understands how important Buffalo is to his league. I hope he realizes that the Knoxes and the Rigases never really owned the team. The Sabres belong to the people of Buffalo, to the hockey fans. They have the kind of ownership that's backed not by money but by memories, by the currency of human emotion.' … [Read more...] about Losing Sabres would mean losing culture

'And if the financially troubled Sabres need to trim their payroll, they might want to start with a couple of disenfranchised players who will make seven figures this season.' … [Read more...] about Rasmussen, Woolley hope deals are drafted

'"There's been a lot of rumours about (the Sabres) moving to Portland," said Blackhawks owner Bill Wirtz, "but there's loyalty in this league." Buffalo has been a good member for 30 years, and they want them around."' … [Read more...] about Wanted: New owners for the Buffalo Sabres

'"We're going to operate it until we find a buyer. If I only have to do it for two more days it means we've found a buyer. "But realistically it's going to take a couple of months, if not longer. If we don't have a buyer in place and weren't ready to close, I would envision us finding appropriate financing and operating the team through … [Read more...] about NHL Takes Over Operation of Troubled Sabres

'"The league is not and will not be responsible for any of the Sabres' debt," Bettman said.' … [Read more...] about NHL to take over operations for Sabres franchise

It seems highly likely that one of these people would be Jeremy Jacobs, who owns the Boston Bruins but whose corporate headquarters are in Buffalo. Furthermore, a Jacobs company paid about $35 million for the concession rights in the HSBC Arena. If the Sabres were to leave town, that investment would lose most of its value, so it is probably Jacobs who will provide the Sabres … [Read more...] about Sabres fall in Bettmans lap

'"We will work with Darcy Regier and the executives to ensure operations continue as usual while we seek a local buyer to purchase and operate the club in Buffalo," Bettman said. "That is the goal. We're very excited by the local support that has been shown for the club. So please buy your tickets."' … [Read more...] about League officially takes control of Sabres

'"Until we talk to the Sabres, it's difficult to comment on how they will operate," Amerks President and CEO Steve Donner said on Thursday night. "But, I suspect they'll operate in relatively similar fashion to how they have in the past."' … [Read more...] about League seizes control of Sabres

'Bettman said the sale of the Sabres, who are worth about $117 million, will probably take several months. Until a new owner is found, the NHL will pay all of the team's expenses, including staff salaries and any signing bonuses for players that Buffalo selects at this weekend's amateur draft in Toronto.' … [Read more...] about National Hockey League Takes Control of Sabres

'Commissioner Gary Bettman said Thursday that owner John Rigas had agreed to the move. Although Rigas technically remains the Sabres' owner, the move helps clear the way for the potential sale of the franchise.' … [Read more...] about NHL to operate Sabres

'"No sale of the Sabres can be effected without addressing the debt to Adelphia from the Sabres," William F. Savino, a business attorney in western New York, said recently. "The Sabres have used Adelphia like a credit card."' … [Read more...] about NHL to take control of Sabres?