By Joyce Kryszak
Buffalo, NY – Mark Hamister's bid to keep the Sabres in Buffalo hinges on cooperation from local officials. Erie County Executive Joel Giambra was the first to step forward Thursday with what he called a "rational offer."
Hamister was expected to ask for an extension Friday on the deadline set by the NHL for him to present a final purchase plan. The problem is, the investor, and would-be savior of the team, still doesn't have one. For that, Hamister and his partner Todd Berman, need to find out how much money -- if any --local leaders are willing to kick in. County Executive Giambra didn't wait for his call.
"I'm prepared to invest $7 million, because it makes sense," Giambra said.
The $7 million, previously committed by the county for the Adelphia project, would help build a parking facility next to the arena. Giambra says they'd be willing to share parking revenues for HSBC Arena events. But that's all.
Giambra says there would be no county investment in the arena itself. It's estimated by some that Hamister could be looking for as much as $25 million taxpayer dollars for capital improvements. Giambra says that's beyond what local government can do.
Hamister has reportedly already been negotiating for aid from the state. And he was scheduled to hold a meeting Friday with Western New York's delegation to the State Legislature.
Click the "listen" icon above to hear Joyce Kryszak's full report on the Giambra proposal.