Ebenezer
01-06-2003, 12:47 PM
WGR radio is running promos from their interview with Mark Hamister. He states that the Sabres will declare bankruptcy whether he buys the team or not. When asked if the bankruptcy breaks the lease he said that under his plan it will not because he has agreed not to move the team and will sign a new lease ensuring that the team does not move. However, without his deal a bankruptcy court could force a sale to an out of town entity and they could break the lease.
He indicated that the bankruptcy will happen no matter what in that the debt (I would suspect that he means the $154 million owed Adelphia) has to be stripped off the books in order for this team to ever make money.
He indicated that the bankruptcy will happen no matter what in that the debt (I would suspect that he means the $154 million owed Adelphia) has to be stripped off the books in order for this team to ever make money.