facebooktwitterRSS
- Advertisement -
  • Most Commentedmost commented up
  • Most Emailedmost emailed up
  • Popularmost popular up
- Advertisement -
 

« News Home

BUFFALO, N.Y. (AP) -- The bankrupt Buffalo Sabres received an additional $15 million line of credit



Published: Mon, February 10, 2003 @ 12:00 a.m.



BUFFALO, N.Y. (AP) -- The bankrupt Buffalo Sabres received an additional $15 million line of credit and approval to pay four players their deferred salaries on Friday.

There were no objections to the request made by Sabres attorney William Thomas in Buffalo bankruptcy court.

The request for an additional line of credit was expected. Judge Michael J. Kaplan had granted the Sabres up to $25 million in debtors-in-possession financing when he approved an initial $10 million line of credit after the team filed for Chapter 11 bankruptcy protection last month.

The Sabres are now expected to pay forward Curtis Brown, goaltender Ryan Miller, and defensemen Jay McKee and Brian Campbell a combined $541,666 in deferred bonus money they were due last month.

Without that payment the four could become unrestricted free agents at the end of the season.

Before the Sabres played the Vancouver Canucks on Friday night, Buffalo general manager Darcy Regier said the Sabres had to pay the players.

"I don't know how it can go any other way," he said. "For the amount of money that these players were owed, as an organization we could not ultimately afford to lose those assets."




Comments

Use the comment form below to begin a discussion about this content.


News
Opinion
Entertainment
Sports
Marketplace
Classifieds
Records
Discussions
Community
Help
Forms
Neighbors

HomeTerms of UsePrivacy StatementAdvertiseStaff DirectoryHelp
© 2014 Vindy.com. All rights reserved. A service of The Vindicator.
107 Vindicator Square. Youngstown, OH 44503

Phone Main: 330.747.1471 • Interactive Advertising: 330.740.2955 • Classified Advertising: 330.746.6565
Sponsored Links: Vindy Wheels | Vindy Jobs | Vindy Homes | Pittsburgh International Airport