RedEyE
12-14-2002, 04:37 PM
For team to move forward, NHL might have to file
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Associated Press
BUFFALO, N.Y. -- The National Hockey League may be forced to declare the ailing Buffalo Sabres bankrupt.
According to The Buffalo News, the Chapter 11 protection filing could be necessary to separate the team from Adelphia Communications and its creditors.
The league may have to declare the Sabres bankrupt for anything to move forward.
It's unclear what a bankruptcy would do to the winning bid to buy the team that was entered by a group led by businessman Mark Hamister.
Adelphia Communications of Coudersport, Penn., still has a stake in the team's assets, since former owner John Rigas was taking loans from Adelphia to help out the Sabres.
The Buffalo News says the bankruptcy protection filing could come by Monday.
--------------------------------------------------------------------------------
Associated Press
BUFFALO, N.Y. -- The National Hockey League may be forced to declare the ailing Buffalo Sabres bankrupt.
According to The Buffalo News, the Chapter 11 protection filing could be necessary to separate the team from Adelphia Communications and its creditors.
The league may have to declare the Sabres bankrupt for anything to move forward.
It's unclear what a bankruptcy would do to the winning bid to buy the team that was entered by a group led by businessman Mark Hamister.
Adelphia Communications of Coudersport, Penn., still has a stake in the team's assets, since former owner John Rigas was taking loans from Adelphia to help out the Sabres.
The Buffalo News says the bankruptcy protection filing could come by Monday.