Are the Sabres For Sale?
12/02/2010 | Posted by
Devin
Apparently they are. Or at least The Hockey News is reporting that they are.
This can mean nothing but good things for the future of the franchise. Don't get me wrong, I think Tom Golisano is a good owner and I will forever appreciate what he did for the Sabres and the city of Buffalo when he purchased the team out of bankruptcy nearly a decade ago. Without him, hockey in Buffalo might not even be a current topic anymore and Sabres gear would be sold on a rack with Hartford Whalers t-shirts.
However, Golisano's time as the owner is probably up now. He is rarely seen at games and almost never involved in anything relating to the team, besides the consistent rumors every year or so that the team is being sold. Larry Quinn is essentially the guy we always see and he is a huge part of the problem for the Sabres. While it may be Golisano's money, Quinn is the guy who is watching over the budget and restricting Darcy Regier in terms of building a Cup contender. In turn, Regier can't build an effective roster and Lindy Ruff is left trying to win with limited options. It all rolls downhill with the Sabres and it starts at the top.
(I realize the report above hints that Quinn would remain at his position, but if Pegula is the sole owner and it's his money to spend, maybe Quinn won't be so awful at what he does. Of course, this is all wishful thinking because if Quinn doesn't own a part of the team, he has no real business working for them. He can go back to his real estate deals and leave us be.)
I'll be honest and tell you that I never heard of Terry Pegula before this report surfaced. But I can say without a doubt that everything I've read about the guy has been extremely positive. Actually, it has sounded like a dream come true. He's a hockey fan, he likes the Sabres, he grew up liking the 70s era Flyers (meaning he likes a bruising style of hockey), he is extremely rich, he has donated $88 million to fund Penn State's hockey program recently (meaning he is willing to invest money without an immediate return or a return at all), and his wife is from the Western New York area.
There is a part of me that feels guarded, mostly because good things like this don't happen to Buffalo franchises, whether it be the Sabres or the Bills. An owner with this kind of interest in this team and deep pockets can only mean one thing: the Sabres would be a serious Cup contender in the near future. While the Sabres do currently spend money, there is still a self-imposed budget in place because to Golisano, this is more of a financial investment to him. According to the linked report above, Golisano purchased the Sabres and with all the concessions added in, paid roughly $62 million for the team. If that is true, selling for $150 million or a figure close to that would have to signal a success on his part. In my eyes, we all win with this deal.
I don't think with a new owner that the Sabres would be wildly drunk with money and blow it foolishly though. With Darcy still working as the GM, he would be smart and make deals in the best interest of the team. As it stands right now, the Sabres are more than $4 million under the cap. That's a lot of money in regards to a NHL team. Among the players coming off the books this season are Tim Connolly and Craig Rivet. With those two alone, that adds up to $8 million dollars in cap space. Not counting anybody else, the Sabres would have a lot of money to use towards their own talent and future free agents. With an owner truly wanting to build a winner and not just looking to make decisions based on his wallet, it signals truly exciting times for Buffalo fans.
This can mean nothing but good things for the future of the franchise. Don't get me wrong, I think Tom Golisano is a good owner and I will forever appreciate what he did for the Sabres and the city of Buffalo when he purchased the team out of bankruptcy nearly a decade ago. Without him, hockey in Buffalo might not even be a current topic anymore and Sabres gear would be sold on a rack with Hartford Whalers t-shirts.
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| Terry Pegula: Buffalo's New Owner? |
(I realize the report above hints that Quinn would remain at his position, but if Pegula is the sole owner and it's his money to spend, maybe Quinn won't be so awful at what he does. Of course, this is all wishful thinking because if Quinn doesn't own a part of the team, he has no real business working for them. He can go back to his real estate deals and leave us be.)
I'll be honest and tell you that I never heard of Terry Pegula before this report surfaced. But I can say without a doubt that everything I've read about the guy has been extremely positive. Actually, it has sounded like a dream come true. He's a hockey fan, he likes the Sabres, he grew up liking the 70s era Flyers (meaning he likes a bruising style of hockey), he is extremely rich, he has donated $88 million to fund Penn State's hockey program recently (meaning he is willing to invest money without an immediate return or a return at all), and his wife is from the Western New York area.
There is a part of me that feels guarded, mostly because good things like this don't happen to Buffalo franchises, whether it be the Sabres or the Bills. An owner with this kind of interest in this team and deep pockets can only mean one thing: the Sabres would be a serious Cup contender in the near future. While the Sabres do currently spend money, there is still a self-imposed budget in place because to Golisano, this is more of a financial investment to him. According to the linked report above, Golisano purchased the Sabres and with all the concessions added in, paid roughly $62 million for the team. If that is true, selling for $150 million or a figure close to that would have to signal a success on his part. In my eyes, we all win with this deal.
I don't think with a new owner that the Sabres would be wildly drunk with money and blow it foolishly though. With Darcy still working as the GM, he would be smart and make deals in the best interest of the team. As it stands right now, the Sabres are more than $4 million under the cap. That's a lot of money in regards to a NHL team. Among the players coming off the books this season are Tim Connolly and Craig Rivet. With those two alone, that adds up to $8 million dollars in cap space. Not counting anybody else, the Sabres would have a lot of money to use towards their own talent and future free agents. With an owner truly wanting to build a winner and not just looking to make decisions based on his wallet, it signals truly exciting times for Buffalo fans.
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