Thursday, January 2 Hamister seeks extension in bid to buy Sabres Associated Press |
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BUFFALO, N.Y. -- Encouraged by the prospect of receiving public assistance, Mark Hamister sought a two-week extension Thursday from the NHL to buy the financially troubled Buffalo Sabres.
The Buffalo businessman's request came a day before a league-imposed deadline forcing Hamister and partner Todd Berman to relinquish their exclusive right to buy the Sabres and opening the possibility of the team folding or moving after this season.
NHL spokesman Frank Brown said the league wasn't prepared to discuss Hamister's request until Friday. But commissioner Gary Bettman has previously indicated that an extension would be granted.
Despite receiving conditional approval to buy the team last November, the bid of Hamister and Berman is contingent on support from state, county and city levels of government to improve the viability of the 6-year-old HSBC Arena, the Sabres' home.
The cost of the assistance package is estimated to be worth a combined $25 million, comprised mostly of capital improvements -- including cheaper electrical costs and a new parking facility -- in and around the arena.
"Todd Berman and I have been encouraged by discussions that have taken place with some of the government entities involved in rationalizing HSBC Arena,'' Hamister said, outlining his request for an extension. "I want to stress that stabilizing the financial conditions of the arena are absolutely necessary if our business plan is going to work.''
Hamister received good news Thursday when Erie County executive Joel Giambra supported a plan for the county to finance construction of a $7 million, 770-space parking facility next to the Arena. But Giambra did not back Hamister's request for a $1 million annual capital improvement grant.
Citing a potential NHL labor dispute when the league's collective bargaining agreement expires in 2004, Giambra said he was reluctant to commit any special capital aid to the arena "until the cloud of uncertainty over the economic future of professional hockey is removed.''
Hamister also gained a vote of confidence from state Sen. Dale Volker, who has close ties to Gov. George Pataki.
"I've spoken to the governor myself about this, and I have great confidence that we'll find a way to keep the Sabres in Buffalo,'' Volker said. "My personal opinion is the loss of the Sabres for downtown Buffalo would be a disaster.'' |
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