Bettman holding News Conference today

[Player6600]

The Rigas's will not be able to make it.

[Patrick76777]

lmao

[Player6600]

Bettman says by season tickets he has 5 groups interested in purchasing the team.

[Sir]

Any possibility off re-location?

[Player6600]

Maybe Tonawanda if not there then North Tonawanda

[Sir]

I heard Newfane was also being considered.

[John]

LMAO!

You know, Rigas still owns the team, and he is out on bail, so he could have attended the press conference . . .

I wonder what he might have had to say . . .

[Player6600]

He might ask for a loan

[Papaduke]

BUFFALO, N.Y. -- Five groups are interested in buying the NHL's Sabres and keeping them in Buffalo, commissioner Gary Bettman said Thursday, a day after the team's outgoing owner was arrested on fraud charges.


Bettman, who did not identify the potential ownership groups, said it was "purely a coincidence'' that he was in Buffalo 24 hours after John Rigas and two sons were arrested in connection with the financial meltdown of Adelphia Communications.


Bettman said he and Buffalo Sabres general manager Darcy Regier planned Thursday's meeting "well before'' Rigas' arrest.


The NHL took over control of the Sabres last month. The arrangement, which could continue into next season, follows an agreement with Rigas, the founder and former chairman of Adelphia who remains owner of the team in title only.


The takeover cleared the way for a potential sale. The league wants to keep the franchise in Buffalo.


The Sabres had been operating in limbo since revelations about an estimated $3.1 billion in off-the-books debt and questionable deals at Adelphia, the cable television company founded by Rigas.


While Rigas ran the Sabres separately from Adelphia, he used the cable company's money to help bankroll his purchase of the team. Adelphia, urged by its creditors to file Chapter 11 bankruptcy, is owed $157 million from the Sabres, making it the team's largest creditor.


Rigas was arrested Wednesday on charges of conspiracy to commit fraud.


Before meeting with local business leaders to drum up support for season ticket sales, Bettman sought to reassure fans that ticket revenues would help the team.


"The money you spend in support of this club is not going to Adelphia,'' he said. "It is not going to the Rigases.''


Bettman said the league has no timetable for sale of the team.


"Once a bid or two comes in we can expedite the process,'' Bettman said. "As important as it is to complete the transaction, it's important that we have the right owners.''


Speaking at Buffalo Bills training camp in Pittsford, Gov. George Pataki said he is optimistic the Sabres will stay in New York.


"I've spoken with Gary Bettman and I know that the NHL has the goal of keeping the Sabres in Buffalo,'' Pataki said. "There are a number of local sports business officials who are willing to step up.''


Erie County Executive Joel Giambra said the county may be willing to help any potential buyer close the deal.


"County dollars that were allocated for the Adelphia project are available,'' Giambra said, referring to a planned high-rise tower that is in jeopardy because of Adelphia's woes.


Bettman stressed that the league has not asked for government money for the day-to-day operations for the Sabres.

--------------------------

Well 5 groups, lets get the bids submitted and pick the best group. The NHL controlling the Sabres is like the fox guarding the henhouse.
Dave

[sabres081]

Originally posted by Player6600
He might ask for a loan 30 mill to get out bail they have money hid someware

[Jim Bob]

Originally posted by sabres081
30 mill to get out bail they have money hid someware

It was $30 million from bailbondsmen. They had to put up their houses and around $2 million in cash to secure the bonds.