The NHL is expected to approve Terry Pegula's purchase of the Buffalo Sabres franchise in the next couple of days, according to those close to the situation...
They're anonymous at present, but the "they" are pretty confident about it.
The NHL still has not announced a timetable on the sale process since Pegula reached a deal, pending league approval, to purchase the team for C$189 million from Tom Golisano earlier this month.
Part of Pegula's commitment is to keeping the franchise in Buffalo, and that was what Golisano was looking for in an owner.
Here's a talk Pegula had with WIVB'TV's John Murphy a few weeks ago...
Showing posts with label Tom Golisano. Show all posts
Showing posts with label Tom Golisano. Show all posts
Thursday, February 17, 2011
Thursday, February 3, 2011
DEVELOPING: Pegula Signs On The Dotted, Team Stays In Buffalo
((HT: WGRZ-TV Buffalo))
Sabres owner Tom Golisano said in an afternoon press conference that he preferred to sell the team to Terry Pegula rather than move the team from Buffalo.
The $189 million sale is expected to close within 30 days, pending NHL and governmental approval.
Golisano says he got an offer for $70 million more from someone he wouldn't identify, but that would have meant moving the team. He bought the team out of bankruptcy back in 2003.
Minority owner Larry Quinn will step down as managing partner.
Here's the first part of the announcement...
Pegula released a statement to the fans of the Sabres and to western New York...
"As diehard fans of the Buffalo Sabres, the Pegula family would like to take this opportunity to congratulate Tom Golisano and Larry Quinn on their commitment to the hockey fans of Western New York and their dedicated stewardship of the franchise. Without their generosity and perseverance through tough economic times and league labor issues, there would not be a team for the Buffalo hockey community to support. We will be forever grateful for their efforts in developing one of the best markets in the National Hockey League, and providing the foundation for future successes. My wife Kim and I are hopeful that the league's approval process of our intent to purchase the franchise will move swiftly and we can begin the next era of Buffalo Sabres hockey in the very near future."
Sabres owner Tom Golisano said in an afternoon press conference that he preferred to sell the team to Terry Pegula rather than move the team from Buffalo.
The $189 million sale is expected to close within 30 days, pending NHL and governmental approval.
Golisano says he got an offer for $70 million more from someone he wouldn't identify, but that would have meant moving the team. He bought the team out of bankruptcy back in 2003.
Minority owner Larry Quinn will step down as managing partner.
Here's the first part of the announcement...
Pegula released a statement to the fans of the Sabres and to western New York...
"As diehard fans of the Buffalo Sabres, the Pegula family would like to take this opportunity to congratulate Tom Golisano and Larry Quinn on their commitment to the hockey fans of Western New York and their dedicated stewardship of the franchise. Without their generosity and perseverance through tough economic times and league labor issues, there would not be a team for the Buffalo hockey community to support. We will be forever grateful for their efforts in developing one of the best markets in the National Hockey League, and providing the foundation for future successes. My wife Kim and I are hopeful that the league's approval process of our intent to purchase the franchise will move swiftly and we can begin the next era of Buffalo Sabres hockey in the very near future."
Tuesday, February 1, 2011
BREAKING: Sabres Sale Complete, Ruff Declined Extension Offer...
((HT: WGR-AM550/Sportsnet Radio Fan 590 Toronto))
The Buffalo Sabres have announced that Tom Golisano has reached an agreement to sell the team and everything related to it to Terry Pegula.
Majority owners Tom Golisano and Larry Quinn will hold a press conference on Thursday at Noon in the HSBC Arena in Buffalo...
As a sidenote, unrelated or otherwise...
Lindy Ruff told the media this afternoon that like, Darcy Regier, he too was offered a contract extension but declined it.
Ruff did say he wants to stay in Buffalo.
The HQ guesses he's trying to gauge interest of Pegula when he takes over as the big boss before he commits to anything long-term...
More when we know more... but until then here's Adam Benigni's conversation with ESPN's Pierre LeBrun about the situation...
((HT: WGRZ-TV Buffalo))
The Buffalo Sabres have announced that Tom Golisano has reached an agreement to sell the team and everything related to it to Terry Pegula.
Majority owners Tom Golisano and Larry Quinn will hold a press conference on Thursday at Noon in the HSBC Arena in Buffalo...
As a sidenote, unrelated or otherwise...
Lindy Ruff told the media this afternoon that like, Darcy Regier, he too was offered a contract extension but declined it.
Ruff did say he wants to stay in Buffalo.
The HQ guesses he's trying to gauge interest of Pegula when he takes over as the big boss before he commits to anything long-term...
More when we know more... but until then here's Adam Benigni's conversation with ESPN's Pierre LeBrun about the situation...
((HT: WGRZ-TV Buffalo))
Saturday, January 29, 2011
Sabres Sale Complete, Pegula Announcement Soon
((HT: WGRZ-TV Buffalo))
Looks like the long-anticipated sale of the Buffalo Sabres to Terry Pegula is this/close to being announced as a done deal.
Pierre LeBrun tweeted that the sale price is in the neighborhood of US$189-million and that the announcement could be by the end of next week.
NHL Commissioner Gary Bettman confirmed that Pegula met with the NHL's Executive Committee Saturday when Bettman addressed the sale at his state-of-the-state news conference at All-Star Weekend in Raleigh, North Carolina.
"Terry Pegula who has obviously expressed interest in buying that franchise was interviewed today by the executive committee but this process and this transaction are not yet near being done. No votes were taken this was just a preliminary step."
Adam Benigni catches up with LeBrun...
Looks like the long-anticipated sale of the Buffalo Sabres to Terry Pegula is this/close to being announced as a done deal.
Pierre LeBrun tweeted that the sale price is in the neighborhood of US$189-million and that the announcement could be by the end of next week.
NHL Commissioner Gary Bettman confirmed that Pegula met with the NHL's Executive Committee Saturday when Bettman addressed the sale at his state-of-the-state news conference at All-Star Weekend in Raleigh, North Carolina.
"Terry Pegula who has obviously expressed interest in buying that franchise was interviewed today by the executive committee but this process and this transaction are not yet near being done. No votes were taken this was just a preliminary step."
Adam Benigni catches up with LeBrun...
Tuesday, December 28, 2010
Sabres Sale Update: Think Next Week
((HT: WGR-AM 550 Buffalo))
Bucky Gleason of the Buffalo News is reporting in his columnthat his NHL sources confirm that Terry Pegula has signed a letter of intent to purchase the Buffalo Sabres.
The news came out last month, but that idea was denied and otherwise poo-pooed by minority owner Larry Quinn. Gleason's sources allow that there has been a letter signed with a price tag of $175 million.
Gleason speculates the sale could be finalized in as soon as six weeks.
BUT... and we put that conjunction with caps on purpose...
WGRZ-TV's Scott Brown reports that the sale is expected to be announced some time after the World Juniors come to a close next week. Brown reports the timing of the sale is being determined by current majority owner Tom Golisano.
Golisano just doesn't want the fireworks and prestige of the tournament placed on a back burner by his news...
Here's Scott's update, thanks to our friends at WGRZ-TV in Buffalo...
Bucky Gleason of the Buffalo News is reporting in his columnthat his NHL sources confirm that Terry Pegula has signed a letter of intent to purchase the Buffalo Sabres.
The news came out last month, but that idea was denied and otherwise poo-pooed by minority owner Larry Quinn. Gleason's sources allow that there has been a letter signed with a price tag of $175 million.
Gleason speculates the sale could be finalized in as soon as six weeks.
BUT... and we put that conjunction with caps on purpose...
WGRZ-TV's Scott Brown reports that the sale is expected to be announced some time after the World Juniors come to a close next week. Brown reports the timing of the sale is being determined by current majority owner Tom Golisano.
Golisano just doesn't want the fireworks and prestige of the tournament placed on a back burner by his news...
Here's Scott's update, thanks to our friends at WGRZ-TV in Buffalo...
Tuesday, November 30, 2010
DEVELOPING: Pegula To Buy Sabres...???
((HT: WIVB-TV Buffalo))
Right now, depending on who you believe, the Buffalo Sabres may be headed from the hands of Tom Golisano to Terrence Pegula. The Hockey News is reporting it, but the Sabres are not...
Here's Channel 4's early report...
Terrence Pegula founded East Resources, an independent oil and gas producer based in Pennsylvania. The company was sold last summer for nearly $5 billion.
Pegula was born and raised in Pennsylvania, and recently donated $88 million to Penn State to help fund a new hockey program and arena.
Tom Golisano pulled the franchise out of bankruptcy for $92 million in 2003.
WGRZ-TV caught up with Sabres players to catch their vibe on the whole thing...
More when we know more...
Right now, depending on who you believe, the Buffalo Sabres may be headed from the hands of Tom Golisano to Terrence Pegula. The Hockey News is reporting it, but the Sabres are not...
Here's Channel 4's early report...
Terrence Pegula founded East Resources, an independent oil and gas producer based in Pennsylvania. The company was sold last summer for nearly $5 billion.
Pegula was born and raised in Pennsylvania, and recently donated $88 million to Penn State to help fund a new hockey program and arena.
Tom Golisano pulled the franchise out of bankruptcy for $92 million in 2003.
WGRZ-TV caught up with Sabres players to catch their vibe on the whole thing...
More when we know more...
Monday, December 8, 2008
Golisano To Sell The Sabres...?
Tom Golisano bought the Buffalo Sabres from bankruptcy in 2003. There are talks, initiated by an article by Jim Kelley in his Western New York Hockey Magazine, that the Sabres are up for sale.
Larry Quinn, Sabres Managing Partner, quickly fired off an e-mailed response to anyone willing to listen, click "open," and read along.
"We are not in negotiations to sell the team and as we have stated in the past, we will never entertain discussions to move the team out of Buffalo."
Kelley's article ((and partner column on sportsnet.ca)) also maintains that there have been talks with Research in Motion founder Jim Balsillie. Hasn't everyone talked with him...? Also mentioned is the thought that, if the Sabres are sold and/or moved that part of their schedule would be played at Copps Coliseum in Hamilton, Ontario.
Golisano picked up the team for US$20-million and US$92-million in assumed debt. The National Hockey League is worried that the proposed sale price could be less than the US$206-million that the Tampa Bay Lightning went for last year. The concept, even in the current economy, that a team could sell for less than that particular benchmark gives the league office a case of the "willies" - the value of the loonie be damned at this time.
OSG sources close to the situation have confirmed that Golisano has had discussions with parties about the future of the franchise in Western New York. Another option for the Sabres could, once again, be Anschutz Entertainment Group. AEG was part and parcel to the possible move of the Pittsburgh Penguins to the Sprint Center in Kansas City.
AEG was more than happy to give free rent and a management stake in the corporation to the Mario Lemieux/Sam Fingold group. But the city of Pittsburgh ponied up in time to keep the franchise in Pennsylvania. The same idea for another franchise to relocate to Sprint Center has yet to be explored.
The arena still has yet to find a primary tenant.
WIVB's Alysha Palumbo caught up with Kelley...
((HT:WIVB-TV))
Larry Quinn, Sabres Managing Partner, quickly fired off an e-mailed response to anyone willing to listen, click "open," and read along.
"We are not in negotiations to sell the team and as we have stated in the past, we will never entertain discussions to move the team out of Buffalo."
Kelley's article ((and partner column on sportsnet.ca)) also maintains that there have been talks with Research in Motion founder Jim Balsillie. Hasn't everyone talked with him...? Also mentioned is the thought that, if the Sabres are sold and/or moved that part of their schedule would be played at Copps Coliseum in Hamilton, Ontario.
Golisano picked up the team for US$20-million and US$92-million in assumed debt. The National Hockey League is worried that the proposed sale price could be less than the US$206-million that the Tampa Bay Lightning went for last year. The concept, even in the current economy, that a team could sell for less than that particular benchmark gives the league office a case of the "willies" - the value of the loonie be damned at this time.
OSG sources close to the situation have confirmed that Golisano has had discussions with parties about the future of the franchise in Western New York. Another option for the Sabres could, once again, be Anschutz Entertainment Group. AEG was part and parcel to the possible move of the Pittsburgh Penguins to the Sprint Center in Kansas City.
AEG was more than happy to give free rent and a management stake in the corporation to the Mario Lemieux/Sam Fingold group. But the city of Pittsburgh ponied up in time to keep the franchise in Pennsylvania. The same idea for another franchise to relocate to Sprint Center has yet to be explored.
The arena still has yet to find a primary tenant.
WIVB's Alysha Palumbo caught up with Kelley...
((HT:WIVB-TV))
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