Sabres Finally Bought

According to TSN.ca the sabres have been bought by Tom Golisano. Does this mean that Satan and Zhitnik will be moving soon…..who knows?

Here is the link and the article.

http://www.tsn.ca/nhl/news_story.asp?id=30579

Report: Sabres sale finalized

TSN.ca Staff

2/27/2003

The Buffalo Sabres appear to have found a new owner.

According to WGR Sportsradio in Buffalo, former gubernatorial candidate Tom Golisano submitted a bid to buy the financially strapped team back on February 14.

The report says the NHL accepted Golisano’s proposal the next day.

The Sabres have been in limbo since the NHL took over operating control of the team last June. One attempt to sell them unravelled three weeks ago when Buffalo businessman Mark Hamister suspended his purchase bid because of a lack of financing.

Following Hamister’s withdrawl, the league reopened negotiations with Golisano, whose initial bid of about $33 million failed to satisfy conditions set by Adelphia Communications, one of the Sabres’ largest creditor.

Earlier this week, team officials said they would have enough money to finish out the season. A bankruptcy court granted the Sabres up to $25 million in financing when the team filed for bankruptcy protection last month. However, the Sabres would be in jeopardy of folding once their financing runs out because it is unlikely they would be granted additional loans.









www.thefourthperiod.com










February 27, 2003
The Fourth Period –




The long awaited sale of the Buffalo Sabres has been finalized, WGR radio in Buffalo is reporting. The station says that Tom Golisano submitted a bid to the NHL to purchase the bankrupt franchise on February 14th, and the bid was accepted the following day.



The deal is reportedly in the final stages and could be announced within the next two days. The team has been under the control of the NHL but the league office contacted Golisano as a courtesy before the recent trade of Vaclav Varada.



The much anticipated possible trades of Miroslav Satan and Alexei Zhitnik now will have a chance to be completed before the March 11th trade deadline. The NHL had been reluctant to allow any significant trades involving the current Sabres roster as it was in negotiations to sell the team. In fact it was reported by the New York Post that the Philadelphia Flyers and Buffalo Sabres had a deal worked out that would have seen Satan and Zhitnik go to the Flyers, but the trade was rejected by the league.



Chris Gratton is another name that has surfaced recently, but it is unlikely that management will move him. In addition to Satan and Zhitnik teams have also expressed interest in defenseman Jay McKee. The availability of the Sabres players will depend on how much Golisano wants to dismantle the team and slash salaries. It is certain that Sabres GM Darcy Regier’s phone is ringing of the hook today with the pent up demand of GMs around the league.


17 Responses to Sabres Finally Bought

  1. SDG says:

    Thank God…..What a great hockey town the city of Buffalo is. Now maybe the players and coaches can focus on the games, not all the other news that came along with the bankruptcy. I am so happy that we don’t have to see another great NHL city lose its team to some southern city that knows nothing about the game.

  2. Leaf_Expert says:

    This is definetly good news for life on the Sabres… but honestly, I don’t think their worth it… It would be much better for the Sabres organization and the league if the team were say a Houston or Portland Sabres….

    But yea,

    I also expect salary dumping to take place…Zhitnik is the most likely…

  3. TaajAr says:

    Aww someone’s mad a certain team owns the Leafs.

    OWNS THEM!

  4. theRef says:

    hehe, no-one owns your team cause they suck. they ain’t worth #%$, and buffallo is an ugly dirty crappy town to boot.

  5. theRef says:

    yeah, i agree with leaf-expert, the team sucks and that city is dirty and smelly – they should go.

  6. theRef says:

    dude, buffallo is such a dirty hole, and the team sucks – have I made my point yet?

  7. SDG says:

    Why is it that everything ignorant on this site comes out of the mouth of a Leafs fan? The Sabres might be in last place this year but they will always be a better franchise than the Leafs. It’s true. The only reason that you hate the Sabres is because your Leafs can’t beat them. How great is that.

  8. titans says:

    Allright now maybe we can get this Satan & Zhitnik to Philly deal done!!!

  9. theRef says:

    hey sdg – how many cups does your crappy bankrupt team have?

  10. Montrealsdogg says:

    about as much as the Leafs have since 67, good enough point for ya?

  11. Montrealsdogg says:

    and Toronto can’t buy a championship

  12. cwhockey says:

    I agree that Buffalo is a great hockey town. Always has been.

    But if Buffalo would have been moved the most likely spot would have been Portland. And I also love how you categorized southern hockey towns in your (tried to find a mild term but couldn’t) ignorant comment. Unless you have lived in one of these southern cities that has a hockey team, you and everyone else who makes similar comments has no idea of who we know or don’t know, or how passionate we are about our teams. Just as I don’t know what it is like to live in a northern town with a hockey team

    You’d be surprised how many people from the north have moved to a place like Atlanta. Their work, the weather, whatever the reason. There are more than you think. And slowly but surely we are getting more new fans. Hockey will never compete for top billing in a southern city the way it will in the north, but myself and many more like me don’t care. We are just that excited to have our own team. Who’s to say in time this will not be a great hockey town?

  13. theRef says:

    yeah, zero – they suck

  14. hatterson says:

    Anyone who lives in Buffalo knows that if you want realiable information you need to tune your radio to 107.7 WNSA. WGR is notorius for making stories up. Here is the real story:

    The Sabres are not sold. Yes Golisano sent in a paper bid and apparently it has been accepted. However, that doesn’t mean that he owns the team. Right now Golisano is in the same position Hamister was. He now has an exclusive bargaining period in which he has to work out a asset purchase agreement. If that can be completed then he will own the team. According to reports this will happen in the next 2 weeks, it has not already happened.

  15. SDG says:

    So you just admitted it to yourself….the Sabres have been around now since 1970, the Leafs have won nothing since 1967. Yet again, do the math.

  16. theRef says:

    ok look up total wins for each team since 1971-72 , do the math buddy.

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