BUFFALO, N.Y. -- The businessman who wants to buy the bankrupt Buffalo Sabres has until next Friday to finalize a purchase agreement.

Mark Hamister was granted a third one-week extension Friday by the NHL.

Once signed, the agreement would be contingent on whether the state, county and city are willing to commit public funding, holding up the potential sale for weeks.

Hamister and his partner Todd Berman are seeking roughly $40 million in public aid and obligations. The request includes a state refinancing of a $23 million loan on the arena and a $7 million county-funded parking deck.

Hamister, who said the language of the deal has been agreed to, said he thinks it will be signed by next Friday.

''The reality is, however, once we sign that asset purchase agreement, the most important thing remaining to make this transaction happen is the government piece,'' Hamister said.

The agreement does not have definitive deadlines to have public funding in place, but Hamister said there ''is not an enormous amount of time to finish that process.''

He did not give a specific date, however. He wants the overall transaction finished by the end of the NHL season to have a full offseason to position the team for next year.

The agreement would allow Hamister to walk away from the transaction without state financing, but he remains confident that issue will be resolved.

The Sabres' filing for bankruptcy protection Monday does not have an impact, he said.

Buffalo lawmakers last week rejected Hamister's request to waive ground rent at HSBC Arena, where the Sabres play, but promised to consider other means of assistance.

The NHL gave Hamister, who intends to keep the team in Buffalo, exclusive rights to the Sabres until the deadline.