Golisano in "fact finding mode"

[Jim Bob]

http://www.rochesterdandc.com/sports/general/0210story015323_general.shtml

He better nor back out now.......

[LALAFONTAINE]

Sounds like a revised (ie., cheaper) offer is coming.

[buffjoe]

I'm gaining more and more respect for this guy as the days go by. He's going to let it get to the point where they are begging him to buy the team. I'm sure as each day goes by and no bids come in from anywhere else, the price will get cheaper and cheaper and cheaper. As fans I guess we can look at it positively. The less money he pays Adelphia the more money he can spend on the team.

[LALAFONTAINE]

One is reminded of Mr. Burns buying his nuke plant back from the Germans...

[TITUS]

I can save him the the trouble on "fact-finding"...here are the pertinent facts:

1. The Sabres are broke.
2. They owe big bucks to Adelphia.
3. They suck on the ice.
4. They need an owner.

'Nuff said.

[Forum21]

Originally posted by LALAFONTAINE
Sounds like a revised (ie., cheaper) offer is coming.

It say's $65 million, I don't think his 1st offer was that much.

The thing to keep an eye on to see if he's genuine is the filings with the State Attourney General's office for this "Sabres Western NY Hockey" company.

[Jim Bob]

Originally posted by buffjoe
I'm gaining more and more respect for this guy as the days go by. He's going to let it get to the point where they are begging him to buy the team. I'm sure as each day goes by and no bids come in from anywhere else, the price will get cheaper and cheaper and cheaper. As fans I guess we can look at it positively. The less money he pays Adelphia the more money he can spend on the team.

What makes you think that he'll actually spend more on the team should he get it at a cheaper price?

I think the first thing that Golisano will do is cut payroll and dump Miro for prospects.

Golisano is a businessman and not a sports fan. He's going to strip this team down to nothing, wait until 2004, and then try and sell the team at a profit.

He won't try and make this a competitive and entertaining team on the ice if it means spending money. Only the ego filling political ads that he's run are worth wasting hundreds of millions of dollars to Golisano.

At least that's my 2 pennies on the subject.

[LALAFONTAINE]

Originally posted by Jim Bob
What makes you think that he'll actually spend more on the team should he get it at a cheaper price?

I think the first thing that Golisano will do is cut payroll and dump Miro for prospects.

Golisano is a businessman and not a sports fan. He's going to strip this team down to nothing, wait until 2004, and then try and sell the team at a profit.


In reality, that's all we need.

[Forum21]

Originally posted by Jim Bob
Golisano is a businessman and not a sports fan. He's going to strip this team down to nothing, wait until 2004, and then try and sell the team at a profit.


He wont make it to 2004 w/o a competitive team.

[Jim Bob]

Originally posted by jj@jj.com
He wont make it to 2004 w/o a competitive team.

Sure he will. If you trim Zhitnik, Satan, Gratton, Barnes, and a few others and replace them with guys that are all making less than a $1 million a piece you have a team that can be marketed to sell enough seats to make the losses acceptable next year even if the team is horrible again.

Just look at how the Isles survived for years with $15 million payrolls and tons of empty seats.

And I'm getting the feeling that Hamister had much the same short term plan as well.

The $1 billion question is what happens after 2004...........

[Sideshow Bob]

Originally posted by LALAFONTAINE
One is reminded of Mr. Burns buying his nuke plant back from the Germans...

"Interesting, I am desperate to buy and you are desperate to sell. Advantage: Burns."

[Forum21]

Originally posted by Jim Bob
.

Just look at how the Isles survived for years with $15 million payrolls and tons of empty seats.



The Isles didn't have to pay off a new venue. The losses the Sabres incur are way beyond payroll trimming remedies right now. But perhaps Golisano will resolve that before a purchase.

[LALAFONTAINE]

Originally posted by Sideshow Bob
"Interesting, I am desperate to buy and you are desperate to sell. Advantage: Burns."

"Excellent"

[Jim Bob]

Originally posted by jj@jj.com
The Isles didn't have to pay off a new venue. The losses the Sabres incur are way beyond payroll trimming remedies right now. But perhaps Golisano will resolve that before a purchase.

Neither will the Sabres after the bankruptcy is cleared up. If Golisano purchases the club there will likely be no debtload on the team. He will own it free and clear. And Golisano has enough money that he likely won't finance the money that he'll use to buy the club.

[LALAFONTAINE]

It looks like Golisano still wants a capital structure with a contingent liability to Jacobs, based on Sabres CF. But I agree that Golisano would clean up the balance sheet better than anyone.

[Jim Bob]

I thought Golisano wanted Adelphia to pay off the concession loan?

[LALAFONTAINE]

Yep, you're right. The contingent liability would be to Adelphia.