BREAKING NEWS: Sabres filing for Chapter 11

[Guest]

http://www.illuzziletter.com/

[venis2k1]

whaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaa

[don137]

This is not good. We will soon see what the ramifications of Ch 11 to the Hamister bid and if it is a necessary evil.

[Buffarama]

This is a good move, and the only move. It will benefit everyone, there is no other way.

[clumping platelets]

Because a new owner is NOT in place, this basically opens up the possibility of another bidder buying the Sabres and moving the team

[Buffarama]

Here's a link:

http://www.tsn.ca/nhl/news_story.asp?id=22576

[clumping platelets]

If Hamister's deal falls through.......Sabres are history and will undoubtedly be sold to an out of towner and Bettman will blame the fans

[Ebenezer]

Hold on folks, the roller coaster is about to begin. Bettman is suppose to be in Buffalo. From some of the things that are being said, nobody knows if this breaks the non-relocation part of the lease...Does Fat Tony want to start giving odds on whether the Sabres are here next year?

[Bulldog]

This really should come as no surprise to anyone. It has been common knowledge for quite some time. This was going to happen even if and when a new owner stepped forward. There is just so much debt in the organization where anyone in their right mind would not purchase this team as its current financial situation stands.

I hope this works out for the best for everyone involved!!!

[Earthquake Enyart]

This just clears the way for Hamister, and in the very short term helps the NHL with cash flow. Nothing to be worried about.

[Buffarama]

Besides, if you were to buy a franchise and relocate it, would you buy the Sabres or the Senators?
This clears the slate for Hamister.

[TigerJ]

Hamister has been quoted as saying the bankruptsy proceedings were a necessary step to him acquiring the team. After several extensions by the NHL of the deadline for Hamister's bid to be finalized, something should happen this week.

Hamister is talking with city, county and state officials trying to get as much as he can in the way of financial commitments, loan deferments etc. If he gets enough, he'll conclude the deal along with signed agreements to keep the Sabres in Buffalo.

If not, he pulls out and the NHL will need to seek more bidders. Then it's a slam dunk the Sabres are moved out of Buffalo. Then there is always the possibility that there will be no bidders in which case the team presumably just evaporates. The bankruptcy, while scary, was destined to happen no matter what direction things head from here on out.

[lucas]

They are assuredly doing this as a last resort to survive as an organization. But it's bad news, because it involves court judges in the decision making of what the Sabres do to survive. That means a lot of uncertainty for the players and coaches, and relocation could well be in the works. I work at Worldcom, I am lucky to still have a job, but believe me this stuff is no fun to be in the middle of.

[Cathochic]

It's necessary

The only way to loosen Pataki's purse strings is to guarantee the $$$$ will not go toward Adelphia. The bankruptcy will guarantee that. It will also free up money to make the team better sooner... e.g. Hamister can spend money on players instead of using it to pay old debts.