Scary thought, isn't that fly

_________________
Lord Stanley's Cup is what its all about.
Mr. Pegula, your destiny awaits you sir.

This is all but a done deal. You dont just fly to NYC on a whim, especially on a work night, when your company is based in Western PA, and tomorrow is a work day.

_________________
"She's like plan C after an 18 pack"

Squanto 7/27/2010

It remains to be seen... There are lot of projects and ideas floating around, but who knows... I'll believe it when I see it.

_________________
"Do not go where the path may lead, go instead where there is no path and leave a trail." - Ralph Waldo Emerson

Hockey Night in Buffalo

welcome to buffalo... lol... so sad... so much potential... to many greedy people....

_________________

Phil, do you think this post is worthy of my sig?

I think so too!

_________________
Lord Stanley's Cup is what its all about.
Mr. Pegula, your destiny awaits you sir.

Sig that mother, Slesh.

_________________
mechaphil

if i wake up tomorrow and we don't have a new owner. or official word that its going to be a done-deal soon, i'm going to be so disappointed..

I'm giving it until the NHL BOG meetings in Palm Springs. That's when he's rumored to be introduced to the rest of the BOG to be given the formal vote of approval. 23 owners approve him and he's in.

_________________
mechaphil

Its weird how this just fell into the field I work in and with a company that I've actually had talks with.
Here I've been screaming at the top of my lungs for a trade on a Sabres forum for months, I figured one had to be made, but I never thought it would be the owner.

_________________
Lord Stanley's Cup is what its all about.
Mr. Pegula, your destiny awaits you sir.

Can't see a single reason why the BOG wouldn't approve him. He's a proven businessman, expressed interest in keeping the team here, and has solid financial capital to back the team, leaving them more stable than when Golisano bought them. All in all he's a perfect candidate.

I dont understand the sig portion of the post, unless he's no longer CEO of East Resources.

I know the deal isn't done until he's approved, but lets face it, the dude isn't gonna just fly to NYC to when he's probably conducting business tomorrow, especially before the holiday, unless he's serious.

_________________
"She's like plan C after an 18 pack"

Squanto 7/27/2010

_________________
mechaphil

Well, East Resources is a Corporation, I knew he sold his controlling share in the company (hence the 3.5Billion Dollars); but didn't know if he was retained as CEO, especially since apparently the sale happened in May. He's still listed as President and CEO on their website.

I guess if I'm doing my research and my source is not up to date, thats partially my fault, but I solely blame East Resources for not keeping their CEO info up to date.

_________________
"She's like plan C after an 18 pack"

Squanto 7/27/2010

Yea, I just checked the same and I'm gonna assume they keep their officers page up-to-date.

_________________
mechaphil

From all that I've read he sold "a stake" in the company for (insert billion dollar amount here). I'm just guessing, based on my sales/financial planning background, this means he was a LARGE shareholder- possibly founder in the company - and sold a minority interest in the business. If he's still listed as Pres and CEO (like everyone else has already stated), I'm guessing he still has a majority stake in the company and at very least probably still maintains most of the "real" power in the business.... Either way, any guy who has Western NY ties and donates $88 mill to PSU to build a RINK and D1 mens and womens hockey programs has my blessing

_________________
"I can't really hear what Jeremy says, because I got my two Stanley Cup Rings plugging my ears...." -Patrick Roy in reference to Jeremy Roenick's trash talking

Very true Fly. The way the city has set things up, it will be all but impossible to get anything worthwhile at CanalSide. The Bass Pro fiasco was devastating to the whole project. Anyway, this is just so exciting. Tom is going to give all of us Sabre fans a GREAT Christmas or New Years present. I can't wait!!!!

_________________

Pegula isn't involved in day-to-day operations. His primary residence is in Florida. It wouldn't be out of the question for him to be traveling anywhere at anytime.

I have a lot of friends in that area that would kill for a pro team (Seattle).

_________________

An AP report from this morning states that Golisano is 'seriously considering', but has not made up his mind on selling the team to Pegula.

http://versus.stats.com/nhl/story.asp?i ... a&tm=&src=

I'm guessing that if Pegula is approved by the BoG next week as an acceptable owner, then BTG will pull the trigger as long as he gets assurances from Pegula that the team stays in Buffalo. I doubt that will be an issue.

Also, FWIW, Garth from HockeyBullshit made a comment that the NHL no longer allows letters of intent to be signed until the potential owner is cleared by the BoG. This stems from Jim Balsillie signing letters of intent with 3 different teams (Pens / Preds / Yotes) and then being found an unsuitable owner.

This is the only place I've read that, so take it with a grain of salt. Garth is usually pretty straight, but it is still HB.

At this point, I'm guessing that it's gone down as such:

- Pegula and Golisano had informal talks about the Sabres. Recently those talks become more serious, and Pegula made a general offer. (This explains the Boston Globe report last week.)
- Pegula and Golisano agreed in principle to general terms of sale. They notified the NHL, which then set things in motion. (I believe that this is where the leaks are, and could explain the confusion over the actual signing of the LOI. )
- Even though there may not be a LOI in place, I believe that Pegula has started his due diligence, and that Golisano has opened the books to let him do that.
- The NHL told Pegula and Golisano that he'd need to be cleared by the BoG before they could move any further on this, and that happens next week. (This also explains the denials by the Sabres and lack of comment from Pegula. They don't want to comment on anything until they know for sure they can move forward. I think this also accounts for the reports of Golisano being undecided.)
- Once the BoG approves Pegula, they can officially sign the LOI and move toward closure. Once this happens I think we'll see comment from the Sabres and/or Pegula.

Interesting. That article states that TG is still very active with the team and that he watches every game in person or on TV. BS?

_________________
Wheelhouse

makes sense..

_________________