SportBusiness.com

Sabres sale on the agenda

The NHL Board of Governors meeting has got underway, with 'a series of update on franchise business' according to commissioner Gary Bettman.

One of the topics discussed on day one of the two-day meet was the proposed sale of the Buffalo Sabres which has run into complications.
At the end of last month the NHL, which since the summer has been running the franchise, conditionally awarded the franchise to businessmen Mark Hamister and partner Todd Berman.
But, according to reports, Hamister wants New York state, Erie County and Buffalo to offset much of the $65 million purchase cost by giving his partnership a $35 million financial package - a desire likely to trigger some problems.
Said Bettman: "The contract doesn't just materialise out of the air. It's got to be finally put together, and that's what everybody's working toward. That's why this is a process, and that's why we're not anticipating a closing until probably February."