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  • Report: Golisano Looking to Sell Sabres 
    Reported by: WROC-TV

    Monday, Dec 8, 2008 @07:32am EST


    Rochester-area billionaire Tom Golisano is looking to sell the Buffalo Sabres, according to a report out later this week.

    The report in Western New York Hockey magazine, which cites an unnamed source, says that talks are in the exploratory stage.  It goes on to say that Golisano is listening to offers and prices are being discussed.  The source claims that there is a group with NHL expertise involved in the discussions.

    The December issue of WNY Hockey will be out Thursday.  The author of the article is Jim Kelley, the magazine's managing editor.  Kelley has covered the Sabres since 1981, and currently works for Canada-based Rogers Sportsnet.

    The source says that Sabres minority owner Larry Quinn is actively looking to find a buyer, and that Canandian businessman Jim Balsillie has been approached by Quinn or an associate.  Balsillie is co-founder of Research in Motion, the Waterloo, Ontario-based company that makes the Blackberry mobile device.

    A group spearheaded by Balsillie tried unsuccessfully to purchase the Nashville Predators and move that franchise to Hamilton, about 80 miles away from Buffalo.  When that fell through, the Toronto Star reported that Balsillie approached Golisano about a potential sale of the Sabres.  Golisano turned Balsillie away in December of 2007, saying he wouldn't sell to someone who intends to move the team.  A team in Hamilton would infringe upon the Sabres and the Toronto Maple Leafs home turf, and would have to pay fees.

    The article says that a deal could be struck where the Sabres play part of a home schedule in Hamilton's Copps Coliseum.

    The article also talks about concern from the league.  Kelley says the NHL is aware of the discussion, and is concerned that Golisano is eager to sell, and could accept a price lower than recent deals.  A source in the league said that anything less than $200 million would "send the wrong signal" about how much a franchise is worth.

    Golisano is said to be one of several owners upset about rising costs.  The NHL Board of Governors is meeting Monday in Palm Beach, Florida.  Talks about  potential sale of the Sabres are not formally on the agenda, but still may be discussed.  Golisano, the founder of Paychex, bought the Sabres out of bankruptcy in 2003 for a rumored $20 million.

    The Sabres play Monday night at Pittsburgh.  The team won it's last game, but has lost 8 out of the last 11.

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