New York, NY (My Sportsbook) - The National Hockey League announced Wednesday that it will be moving forward to conclude the sale of the Buffalo Sabres to a group headed by Mark E. Hamister. "After narrowing the bid process, it was determined that the terms of the Hamister bid should be accepted," NHL Commissioner Gary Bettman said. "We will work with Mr. Hamister to conclude the transaction as quickly as possible. It is anticipated that the closing will take place in the first quarter of 2003. Bettman has indicated the NHL is committed to keeping the club in Buffalo. The sale of the team became necessary when owner John Rigas and two sons were indicted on fraud charges following the collapse of Adelphia Communications. The league has been supervising operations of the Sabres. "Adelphia has been involved throughout this process, and we are anticipating their continued cooperation in completing the sale," Bettman added. The proposed transaction is conditional, and approval is required by the NHL Board of Governors. |
