Ownership Change Likely For Sabres

Mon., Dec. 22, 1997

Associated Press

The financially ailing Buffalo Sabres are expected to change owners as early as this week, ending the Knox family’s 28-year association with the team, The Buffalo News reported Sunday.

John Rigas, founder and chief executive officer of Adelphia Communications Corp., is negotiating to buy enough shares to become the team’s majority stockholder.

Sources at Marine Midland Arena told the News that Northrup Knox and Robert Swados, two of the franchise’s founding members, probably will leave the partnership.

The Sabres, who have lost $32 million the past three years, nearly missed their payroll Friday, which helped push talks to bring Rigas into control, the News reported. Rigas already is one of the organization’s major financial backers.

On the ice

Dominik Hasek continued his recent shutout surge, making 33 saves to lead the Sabres over the New York Rangers 2-0 Sunday in New York.

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Ownership Change Likely For Sabres

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