Sabres Deal includes a "No Move Clause"

[SkateZilla]

ESPN Article

BUFFALO, N.Y. -- Future Buffalo Sabres owner Terry Pegula can never move the team from Buffalo under terms of his $189 million deal to buy the franchise.

Majority owner B. Thomas Golisano revealed Thursday he turned down an earlier purchase offer that would have involved shifting the team to another city -- even though the offer was for $70 million more.

Although Pegula, a self-described die-hard Sabres fan with ties to western New York, has never indicated he'd want to leave, the no-move provision was a must, said Golisano, who is credited with keeping the Sabres from folding or relocating when he purchased the team out of bankruptcy in 2003.

The sale is expected to close in about 30 days, pending NHL and governmental approval, Golisano said at HSBC Arena, where he met with players and employees to say goodbye.

"Is this a mixed emotion day?" Golisano said. "Of course it is."

Larry Quinn, one of two minority owners, said he would step down as managing partner after the sale. The other, Daniel DiPofi, is expected to stay on through the transition.

I Personally also like that last part. Larry Quinn Stepping down.

Instead of 1 Majority owner and 2 twits that been around thru the crap, we'll have 1 OWNER, and no more dumbnut Quinn and DiPofi will step down after the owner ship transition.

But As the Article says, There is a NO MOVE CLAUSE in the deal, and Tommy Boy turned down offers for more by buyers that wanted to move the team.

[Night Train]

Re: Sabres Deal includes a "No Move Clause"

I Personally also like that last part. Larry Quinn Stepping down.

With reportedly a 14 Mil take.

[SkateZilla]

Re: Sabres Deal includes a "No Move Clause"

Small Price to pay IMHO

[bigbub2352]

Re: Sabres Deal includes a "No Move Clause"

Quinn going is the best thing about this...dont stop there...keep going

[G Wolly]

Re: Sabres Deal includes a "No Move Clause"

Quinn going is the best thing about this...dont stop there...keep going

Take Connolly with him.

[trapezeus]

Re: Sabres Deal includes a "No Move Clause"

i wonder how this no move provision works. Who holds him responsible if he sells to someone who moves the team? Seems like a PR clause where everyone is a winner today, but has no teeth to enforce if they want to move the team.

[casdhf]

Re: Sabres Deal includes a "No Move Clause"

I'm guessing the city could enforce the clause.

[SkateZilla]

Re: Sabres Deal includes a "No Move Clause"

i wonder how this no move provision works. Who holds him responsible if he sells to someone who moves the team? Seems like a PR clause where everyone is a winner today, but has no teeth to enforce if they want to move the team.

Under contract terms, NHL has to approve the movement of anyfranchise, since the contract is approved by the nhl w/ the No Movement Clause, if Terry were to ever try and move the club NHL would decline the approval of the move, now if he wanted to he could sell the team to someone else, and not retain the No Movement Clause in the Sale Contract.

[tatersalad]

Re: Sabres Deal includes a "No Move Clause"

Isnt he a huge fan? why would he move them