First it was $150 million, then $175 million, now there is an additional $14 million of "debt". What the hell is that? I thought the team was making money, where is this debt coming from?
Why does the price keep changing?
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Re: Why does the price keep changing?
Originally posted by chernobylwraithsFirst it was $150 million, then $175 million, now there is an additional $14 million of "debt". What the hell is that? I thought the team was making money, where is this debt coming from?Originally posted by mysticsotoLecter is right in everything he said.
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Re: Why does the price keep changing?
golisano owned the team for less than 10 years and he was saddled with some serious debt, if i remember correctly. it's probably the amount left over and some of it may be payments back to the NHL when it was being run by the league.
isnt this how all expensive purchases happen. you buy your home for $X. Then at closing, you owe $x plus $2000 ini closing costs. then when you get the movers, fix the pesky bathroom no one told you about, you're in for another $10,000.
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Re: Why does the price keep changing?
Originally posted by trapezeusgolisano owned the team for less than 10 years and he was saddled with some serious debt, if i remember correctly. it's probably the amount left over and some of it may be payments back to the NHL when it was being run by the league.
isnt this how all expensive purchases happen. you buy your home for $X. Then at closing, you owe $x plus $2000 ini closing costs. then when you get the movers, fix the pesky bathroom no one told you about, you're in for another $10,000.
The debt from the Rigas years was not part f what he purchased -it was all forgiven.
But likely it is just various loans and stuff the Sabres have taken out. Perhaps to work on the arena, purchase merhcandise, for setting up the WJC, etc.Originally posted by mysticsotoLecter is right in everything he said.
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Re: Why does the price keep changing?
Simple-people were reporting speculation, rumor and hearsay not hard fact.
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Re: Why does the price keep changing?
Liabilities that are still left as being owed (as Lecter said) I would guess. Probably what much of the negotiations over the last month have hinged on.YardRat Wall of Fame
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Re: Why does the price keep changing?
Originally posted by Dr. LecterThe debt from the Rigas years was not part f what he purchased -it was all forgiven.
But likely it is just various loans and stuff the Sabres have taken out. Perhaps to work on the arena, purchase merhcandise, for setting up the WJC, etc.
I'd bet that a good chunk of the debt here has to do with capital debt sdervice and stadium renovations....just a hunch though.
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Re: Why does the price keep changing?
because if the final sales price ends up like $200+, it may effect how quickly pegula wipes through with his changes. even if he is super committed to winning hockey, making a huge purchase and then not having any return is a bad omen for a buffalo sports franchise, whether we like it or not.
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