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Could the Sabres be Getting a New Owner?

November 30, 2010 Leave a comment

Lets first start out by saying most of this topic is completely based on rumors.  It’s essentially a report that stated the Sabres might be sold eventually to a report that said a letter of intent has been signed to an official statement saying that no letter of intent for $150 million has been signed.  So, now that that’s out-of-the-way..

What does all of this mean?  That is if it does happen.

Lets look back a bit, at a worst case scenario and citing solely the original Boston Globe report.  That story simply mentioned that Golisano is looking to sell the team.  Both Terry Pegula and Jim Balsillie were named as possible buyers.  I read that and cringed.   It’s no secret that Balsillie will do anything in his power to get a team relocated in Hamilton.  Bettman has stated in the past he did not want to move Buffalo and that any relocation would require a league vote but still, there’s the chance and I didn’t want there to be one.

Early today, The Hockey News gave us some more information.  Something to get excited over instead of sick to our stomachs over.  They stated that Terry Pegula, a billionaire who made his riches from natural gas and oil on Pennsylvania, had signed a letter of intent to buy the team for $150 million.  No more Balsillie in the picture and on top of that someone who’s passionate about hockey may wind up atop the Sabres’ org chart.  Does this mean no more self-inflicted salary cap?  More pressure for ownership for this team to do something?  The capability to hold onto our free agents?  Is this the guy that’s going to finally bring the cup to Buffalo?

After a morning of rampant  speculation we then had a response from Larry Quinn stating that there has been no letter of intent signed for $150 million.  Instead of dousing the wildfire of rumors it simply fanned them spurring on ideas that maybe it was for $151 million, maybe more.  The fact he was so specific was almost like saying the team is officially sold.  We’ve later heard that this may not be the case and no letter of intent has been signed.  Well, maybe they’re going to sign it tonight?

I have no problem with Golisano as an owner.  He saved this team from bankruptcy and kept them in NY.  He’s stated in the past that he would never sell the team to a party that would move it out of the city.  I even spent a few years in one of his buildings.   All of that aside, he never really seemed that passionate about this team.  It was fairly clear he bought it for political gains but you have to respect him for not dumping it the instant he dropped out of politics.  When he moved out-of-state last year the writing was on the wall, we all knew he wasn’t going to own the team forever.

Exciting news rumors for sure.  However where there’s smoke there’s usually fire so I’d be surprised if Golisano owned this team at the end of the season.  Lets just sit back and see how this plays out.

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Categories: Hockey Tags: , ,
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