Buffalo, NY – Mark Hamister revised his proposal to Adelphia Communications Thursday, hopeful he can meet next week's NHL deadline to complete his conditional purchase of the bankrupt Buffalo Sabres.
Reaching a deal with Adelphia is critical to Hamister and majority partner Todd Berman's bid to sign an asset purchase agreement for the Sabres.
The prospective owners have been granted four deadline extensions by the NHL this past month. They now have until Monday to complete their agreement or risk losing their exclusive rights to purchase the franchise -- potentially jeopardizing the team's future in Buffalo.
Adelphia, which filed for bankruptcy protection last summer, is the Sabres largest creditor. Adelphia turned down the prospective owners' initial offer last week, responding with about 40 proposed revisions.