When new Buffalo Sabres owner Terry Pegula officially assumed control of the franchise, the Sabres were a struggling team that was on the outside looking in regarding the playoffs. As of Feb. 22, Pegula's first day as the approved team owner, the Sabres were in ninth place in the National Hockey League's Eastern Conference, and were riding a four-game losing streak. That night, the Sabres not only snapped that losing skid, but they've since ridden a joy ide of sorts, skating to a 13-5-3 record, catapulting themselves (at the time of this article) into seventh place.
Pegula's Sabres Off to a Fast Start
With three games remaining in the regular season, the Sabres have a very reasonable chance of achieving a sixth-place finish, something that seemed highly unlikely only six weeks ago. Pegula, with his estimated $3 billion largess along with his lifelong love for the Sabres and genuine passion to reinvigorate this heretofore flagging organization, has breathed into his players and fanbase a considerable breath of fresh air. This is a man who actually broke down crying during his first official press conference, telling all those in attendance he was realizing a lifetime dream by purchasing his favorite pro hockey team.
An Organization In Flux
Back in 2002, the Sabres' future in Buffalo was in question. At the time, the team was owned by the Rigas family, founders and owners of the Adelphia Communications Corp., who were indicted on a series of fraud charges related to the pillaging of their own company. By 2003, the team's very existence was in limbo, with family patriarch John Rigas being stripped by the NHL of his control of the team, forcing the organization to file for bankruptcy.
TG to the Rescue
It was not too long before Rochester native and Paychex Inc. founder Tom Golisano agreed to purchase the franchise for a reported $92 million, staving off the conceivable cessation of the team. Commissioner Gary Bettman at the time deemed Golisano a "white knight." The NHL, in 2003, was at risk of losing a few different franchises, including Sabres' rivals the Ottawa Senators, due to their own financial challenges.
It stands to reason that without Golisano's involvement in the team, the Sabres would now, at the very least, be based in another North American city. Since that time, though, Golisano seemed unwilling to commit nearly enough money to player scouting, acquisition and development, with the resultant uninspired overall team play to show for it. For instance, if the team cannot maintain its strong play as of late and collapses in the last three regular season games, this would be the third-straight season of not qualifying for the playoffs. This possibility was brought about in large part by the decision not to re-sign two key players after the 2008 season -- centers Danny Briere and Chris Drury, who were also the team's co-captains.
Aside from the team's surprising decision to match a seven-year, $50 million contract offer extended by the Edmonton Oilers to left winger Thomas Vanek that same year, Golisano and team general manager Darcy Regier were hardly profligate spenders. I believe Vanek has generally underperformed for the Sabres, but he does exhibit occasional flashes of brilliant play, so I'm thankful that he is still with the organization.
I feel that I can speak for many people throughout Western New York and Southern Ontario in saying that we owe Tom Golisano a debt of gratitude for his deep pockets and eagerness to preserve professional hockey in this neck of the woods. He was also instrumental in severing ties with the franchise's long-standing affiliation with its minor league club, the Rochester Americans. Their relationship had carried on for 29 years but was acrimoniously cut as the Americans' management team had fallen on challenging financial times due to a string of poor investment decisions.
It Was Time for a Change
Yet Golisano was not a "hockey guy" and his interest in the operation appeared to wane the past couple of years. In the end, his interest in the club seemed to be mostly monetary. He sold the team to Pegula for a reported $189 million, which would mean he reaped a $97 million profit on the deal. Pegula, however, has pledged to invest considerably in scouting new talent, pursuing high-level free agents, and upgrading their home rink, the HSBC Arena. A slew of recent call-ups from the Portland Pirates, the Sabres' minor league affiliate since 2008, has re-energized all facets of the team, with the likes of forward Mark Mancari and defenseman Marc-Andre Gragnani providing a much-needed boost to a generally lethargic team.
Furthermore, Pegula is making a point to embrace the history of the franchise, re-introducing former Sabres such as goaltender extraordinaire Dominick Hasek and the entire French Connection Line -- Rene Robert, Gil Perrault and the late Rick Martin. These are the players who made previous Sabres teams great and are still lauded by legions of Sabres fans, and are certainly inspirations to current and future Sabres players. It is the little things such as this that make franchises successful, and I do believe Pegula has thus far taken the right approach to turning around this languishing franchise.
Sources
- Associated Press. (2011). Sabres fans eager to welcome new owner, Pegula. Retrieved April 3. 2011
- Associated Press. (2003). Bettman introduces new Sabres owner . Retrieved April 3, 2011.
- Reitz, M. (2011). Buffalo Sabres turn-around under new owner Terry Pegula . Retrieved April 2, 2011.
Join the Conversation