Why does the price keep changing?

[chernobylwraiths]

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?

[Dr. Lecter]

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?
Obama.

[chernobylwraiths]

Obama.

:doh:

and paying off the Buffalo News to not print any more expose articles on his former businesses.

[trapezeus]

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.

[Dr. Lecter]

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.


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.

[Bufftp]

Simple-people were reporting speculation, rumor and hearsay not hard fact.

[YardRat]

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.

[Nighthawk]

The debt is the stupid contract extensions for Regier, Pomminville, Hecht, etc...

[Michael82]

The debt is probably what Golisano used to buy a new scoreboard and ribbon boards inside the HSBC Arena and to upgrade some of the concessions.

[User Manuel]

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.

Actually Doc, as I remeber it, most of the sale price for Golisano was assumed debt he paid off. The Rigas' got almost nothing for the team.

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.

[THATHURMANATOR]

Who cares?

[trapezeus]

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.

[Night Train]

It includes the Sabres & the Bandits.