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Hmmmm.........rumor control has it....
Oh what a rumor: Golisano with a partner bidding additional millions in CASH for the Buffalo Sabres ... The reason the attractiveness of the team in & after bankruptcy, eg debt forgiven & settled. There are whispers that the State will not fund the Hamister post bid requests for the Arena.
http://www.illuzziletter.com/
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If Hamister's bid is not accepted, other bidders will be allowed by the Bankruptcy court
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Granted, but Bettman said Monday that Hamister's is the only local bid that will be considered by Adelphia and the NHL. It's pretty plain to see.
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I'm more familiar with Canadian bankruptcy's than American ones so I have to ask the question ... since the team declared bankruptcy, how do Bettman and Adelphia have the final say in this?
In Canada, once bankruptcy has been declared, the creditors have the majority say.
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Adelphia's creditors are the creditors...they have a whole lot to say.
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BTW, for those outside of Buffalo who will read this, just remember the Illuzziletter is a liberal political web site that has not once suggested any creative way to keep the Sabres in town, have not found anything positive about the Hamister bid and never has a good thing to say about anything central or republican...gee, could they dislike Hamister because of his connection to the Republican party.
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It's up to the court, not Bettman.
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Do you really think that if this goes to Bankruptcy court that the team will be here when it is all done?
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Yup, the bankruptcy court will award it to the highest bidder. It's incumbent on the court to get the most money on behalf of the creditors.
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Originally posted by Ebenezer
Do you really think that if this goes to Bankruptcy court that the team will be here when it is all done?
I'm with you Eb. If the state decides not to help the Sabres then the Sabres are as good as gone. I personally feel it should work out in the end and the Sabres will stay. I'm not sure if Hammister will get everything he asked but enough to finalize the deal. Time will tell...
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There may be no bidders. The team may just vaporize. I think that's why they didn't pay McKee, Brown, and Campbell thier bonuses because they might be FA's anyhow if the Sabres don't exist next year.
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I was thinking the same thing EE. If the Hammister bid fails there may not be enough time or interest from enough bidder to buy the team so why give the players the money if they may end up being FA's. If it does work out then the players will get paid (of course I am not sure it will be paid in full).
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Registered User
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Originally posted by Ebenezer
Granted, but Bettman said Monday that Hamister's is the only local bid that will be considered by Adelphia and the NHL. It's pretty plain to see.
I was on that press conference call and I didn't hear him say that.
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I see the Sabres folding before I see them moving ... unless Paul Allen wants a hockey team in Portland, I don't see any other city without a team being attractive to anyone that might want to buy a team.
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