Good afternoon everybody thank you for coming out this morning. First to make things as officials everybody's expecting. Buffalo Sabres are being sold. By this group of individuals Israel's. To a gentleman by the military -- The closing has not formally taken place yet -- take place and about thirty days. The two open issues are the board of governors of the National Hockey League have to put through official seal of approval on Terry's purchase. And we think that's slam dunk. And the other thing the best be done is the federal government. Because of the size of the transaction. Makes -- go through an application process. With the Justice Department to make sure that this is not a monopoly was to transaction but rather -- transactions and restrict monopoly can restrict trade. Within in this case the National Hockey League it's us National Hockey League already has a rule they can only own one -- that time it's really none of them so system bureaucratic process. This funny to note though that the principles in the transaction are gonna have to pay the federal government about a 100000 dollars to go through this process -- some bureaucrat looking at the application saying. It's a pro sports transfer they already have restrictions on monopolies from Annapolis to transactions. So this is not about let's sign it and go to lunch and send them a bill for a 100000 dollars. We had to go through this and we bought the team and now -- going through so. That's you're curious -- the history between Terry typical on ourselves. This Terry contacted us just short of the year ago asked if there was some interest in the team. -- availability for for purchased before him. And it's time we said well let's have a preliminary discussion we did we decided there was some interest with them after a multitude decided that. We we're gonna do it. But several months later because of our personal circumstances we contacted Terry. It's a Terry it's excellent just and Brian's team we're gonna make it available to hand. He did. The very important thing to the city of buffalo is that by contract. Terry Google will be unable to ever -- team from the city of buffalo so we have secured its future. Port for the city of buffalo. As far as team remaining in the city. We thought it was very very important -- and would give you a bit of information you didn't have before. Is that we did receive an offer from another individual. And give you the exact amount that was seventy million dollars more than this transaction. If we are willing to cooperate moving the team to another city. And we absolutely turn that down without any. Focus or interest at all just not gonna do that. Started my personal involvement of the savers it's been quite an interesting run. I would say it's been 99% very very positive. I remember the days that. I had conversations with Gary -- about the possibility of buying the team. I've had been through bankruptcy. Some very difficult times on and off the ice. And mr. Bettman did convince me of two things one that there was going to be a salary cap which was gonna bring equity to leak. And it really -- all you have to do is look at the difference. Standings as they vary from year -- year in the teams that are on top teams that are not into this tremendous parity in the league. Today that there wasn't eight or ten years ago and second that small market teams like buffalo we're going to be over shared revenue share. Mr. Bettman made those trapped commitments promises when everyone called him. And they both came true and it made a significant difference in the ability of teams like buffalo. In cities like the size of -- flow to -- sustain themselves so. Based on that. We took over the control of the team. We have as a primary purpose of course obviously is to priests. On the ice performance to improve it. And secondly to make sure that the team has sustainability. By operating financially very sound soundly. Over the late time. Again we think we did that. We also did it but the fact that we did it without any public money. And that's sort of unheard of the in the days of sports franchises they're always asking for public money to support there a particular team. We did all the accomplishments over the last several years without asking for public money and one of the things that I do remember about the transition. At least during the negotiation period. Which always bothered me and I still don't understand Tuesday but the fact that the some of the media particularly the editorial board of the Buffalo News. Encouraging me to stay in Rochester and not get involved but I'm glad I didn't listen to him because it's been -- very. Rewarding and satisfying experience I hope he personally. Gentleman next to me but also for the city of buffalo. Because we have an asset in this community is very dear and very important this community we enabled sustain. We also endured. And this is not a well known -- about twenty million dollars in losses. During the first two years. We inherited the team we have very small number of season ticket holders. We are advertising revenue and sweet revenues will be down and obviously the team performance on the ice was also the negative. We were able to turn them around. As far as this issue about my -- interest. In now. In in the Buffalo Sabres I don't think anything could be further from the truth. I was just reviewing them Larry and and and the rest of the employer organization how many games I've missed either in prisoner in TV. Again. In the seven year period I've missed six games and haven't been able to watch. Either on TV you person I also when I was driving here this morning I started out with a clean black card now at the white car. But it just covered -- I made over 250 trips. Door to door from my house to buffalo arena -- this same period times news. As. Some points of interest and I think you've got the senior Prescott but I'm gonna mention some of these things because I think for the viewing audiences they impairment. The first thing is how did the teen who during our. Brain if you will the period of time that we -- team. The Buffalo Sabres in the win loss percentage over the seven seasons. Have the sixth best record in the National Hockey League winning percentage Bruce has lost six best National Hockey League. In fact in the Eastern Conference the only team that was -- -- -- was New Jersey doubles so over the seven year period we have six best record. And national hockey. Larry Quinn. Has always had a winning record before his involvement with me in the current rain. Does winning percentage is over well over 500 in the course we got involved him almost. 500 points at nine percentage. A lot of conversation about the salary check out. I would be the first one to say that spending to the salary cap doesn't. Prove anything other -- the fact that you spent the money. But to let you know and to let the general public know. Our relationship to how much we actually spent four players -- what the salary cap in the National Hockey League was here. Was amazingly close and that if you look over the seven year history. Except the first year we were within 10%. Of the salary cap. And one of the reasons we took the stance. Is in the world of multi season contracts. He ended differences in standings from year to year it's very difficult to predict where your payrolls in the day. So if you're if you're foolish if you don't maintain some level of distance between where you actually spending the salary cap because you never know when you're gonna have a situation where you wanna go for. A new player or you wanna maintain an existing player who's become a free agent. And if you look at some of the teams that it. One Stanley cups of the last two or three years. And see what's happened to their team because their players become very much in demand and all of a sudden they're forced to pay higher salaries. So we always thought it was important to keep some sort of a percentage of distance between the salary cap. -- just makes good common business it's. The other thing we're quite proud up. Is players' salaries have gone up up over 80% almost 90%. Over this -- tenure and we been able to keep ticket prices total increase over the entire period. At around 35%. Actually the first year we lowered ticket prices because we thought they were. Overpriced. We're only we're the only team in the northeast division that's one that's division title twice. What we also are the one of the few teams have gone to the Eastern Conference finals two years. During this period. -- had the first back to back sixty win season is franchise history is its excellent game. Two years or. The thing that I'm most proud folks and I would have saved. I do have a mental image. This presentation. Was the ability to hand to the players their presidents' trophy the year they won the president's. Trophy for having the best record in the National Hockey League that's the best record of all thirty teams that just the Eastern Conference. To meet the greatest accomplishment of the bottles papers individually. Have to look at Lindy Ruff ten year. I'm glad to have been part of that he certainly says. A stalwart coach in this league he has the most and -- years as far as the rest of his peers. Being involved with guys like Ryan Miller and and Tyler -- of the awards that they observed tiger Tyler Myers in the war towards they've won the last two years has also -- -- Yes. The winter classic. These guys idea they took it to lead. The -- said okay we'll risk it will take him out it's become a classic of that. And in the national hockey just absolutely phenomenal you see all the press and momentum that got behind them this past year. The Buffalo Sabres took the risk. Promoted it the league went along with us that turned out to be fantastic event -- for hockey but -- the sports world and total. The junior -- championship another innovation we were able to -- the buffalo. The people from the committee will tell you that's it was one of the best run best attended the sense -- they've ever had in the United States so we're quite proud of them. When we took over our season tickets that we had 6400 of them today we have over 50000. And I understand we have about 16100 people on the waiting list. We also. It's -- variable pricing. This allowed. Younger people -- children and so forth to be able to afford to come to games. That maybe weren't as important news some of the other games. And this was also a innovative thing that we created and the number of teams that also. Well done. Capital improvements I think we have -- the best if not the best scoreboard. In the media in the league. We also out of the ribbon board. The yacht club. Obviously -- definition production facility was all of -- and again we did this all about public money. Even use of the shovels. During the TV breaks to go out scrape the -- nobody was -- -- the national actively. Until Larry gave up with the idea and now everybody's doing in the national actually and the players that appreciated because it makes the park movies you cross -- reason. We can't forget the buffalo bandits they won the national title. In nineteen and Terry 2004 that we 2000 season ticket holders of the bandits. This numbers increased will be key. -- 9500 tickets season ticket holders -- this season. The arena itself David posted a 182 special events. The NCAA basketball tournaments to world junior tournament even walking with torn dinosaurs it was a big big. One last note the Buffalo Sabres foundation when we took over the buffalo sight savers foundation at thirteen thousand dollars in the account. During the seven years we've raised more than 2.4 million. And distributed to various organizations within the community like the alumni association. Childrens -- and Children's Hospital. Roswell park. Classical theater you just name it it's a whole list of 2530 organizations. That the foundation is supported and of course because her fans supported us so we're very proud of that. Is this a mixed emotion day of course this one. Myself and Larry and Dan. Worked as hard as we've worked to make this organization financially viable. -- viable as a member of the National Hockey League and competitive organization. We think we've done a really really good job I'm gonna tell you right off the bat here not -- that right now. Larry and -- did all the work I help dedicate some direction. Idea but so far as to even validates over the. Player contracts but these guys on the day to day basis. I'm really prove their worth and earn their stripes and I think they deserve a lot of crap. Which guys like to say. I think I'm gonna say is that. I've really enjoyed every minute in this. Hockey experiences wonderful working in the city of buffalo and actually building this arena right up till this point has been just one other well it has been my life there's news and highlights as in my life. Working ways that you guys next to me has been. Probably more special than that. Tom Golisano is one of the great entrepreneurs of America. At a time when you know a lot of people called -- the American century was right at the top and had an opportunity to work with him for seven years and learned so much. Every day was great every -- -- sometimes there are challenging days. You don't get off passing. False information time and living to tell about it buddies can just -- and I'm so and attitude to you everything he's done for me in my personal life and everything else. And -- to -- is the guy did not a lot of you know but who really. To deserves. Major part of the credit for it is the success of the business and end all of these innovations in this building he. Is that you know ideas very easy -- security memory card and in him not to the end doesn't have lots of ideas pretty excuse perfectly. And you know I think the franchise is gonna need him for a long time as most of you know I'll be leaving them. When the new group takes over I think in my -- steam for awhile anyway and I think that that's good for them because again and you. Very briefly. First obviously the town area. It's been. -- great friendship but it's been great working with you guys and but no alert for a long time and -- ups and downs during some of that but it's often good that's -- great experience. The staff for the Buffalo Sabres -- I sort of earlier votes and meeting with the employees com. You know if I don't give you a credit you truly don't and you deserve at all that your great group today and we have a great things ahead of you. Have been involved the sabres and one former fashion the last 25 years -- You know it's all been great experience great people great friends. So thinks everyone and also to the max's. Who I got -- start with more. Obviously instrumental IQ buffalo and and much appreciated. Or open up questions I would just like one final comment. The greatest benefit. Medium -- in Buffalo Sabres all the great people buffalo got no Natalie in the business community but certainly in the sports community as well. In the TM support. The enthusiasm just walking down the halls this arena from the hands. It's just been terrific I mean it's just been a great experience I had never hit the -- The idea of the goal at the objective of owning a sports returns. And I got involved in the Buffalo Sabres because more of a community service and anything else. But it's turned out to be very very gratifying experience getting those people. Even though I had to make all those 250 dragged back and forth it was well worth. And it's -- a great experience. Thank you to the city. If it'll open up and we'll have to question how we can just wait for Christian cabinet what what the microphone. And ask questions. In the back yet. Just this might be excused I don't wanna block from the camera this might be for Tom Miller Dan but. Why you're handing over which -- -- your hand over the keys. Can you give us an idea of how the decision making process will work because obviously you're still in control but you've got trade deadlines and hypothetically of dark here when do you have a deal they'd like to make. Do they have to convince you then you have to convince terrier how how how would that process work. The way process is gonna work is that we've agreed minutes mr. -- that there are certain players that we will not trade uses its smallest. And we've agreed that we won't occur. Obligations to the club over certain. Because you -- get a player that which would severely hamper. Their ownership under the cap by the kidnappers freed you up. -- player transactions we will two. What we think is in the best interest of the team. We have to notify him but we don't -- disapproval. But then have you set all that I think -- expectation is is that this transaction should close before the players trade deadline and so this would be a -- Up until that day we're gonna essentially -- operate. As we -- it with those limitations. All that. Cigars I was wondering what changed your mind. You said that you talk to mr. hula and then you said no and then decided to change your mind what was it that changed your mind today talking to him again. Well I think destroyed two or three ounces of that. The first answer is that. In about fifteen page you're gonna hear about a new project -- be involved in this national scope. It's going to be quite time consuming. The number two thing that's happened which I totally underestimated the importance of and I moved Florida. I'm becoming more and more ingrained in the state of Florida its business investments. Just Portland -- a horse ranch down there as well. So there is going to be more time spent Florida than just mandatory under these forces. And also the third -- very important was personal wishes and Larry. And you know they have their own individual reasons. So that was part of it as a group we agreed that it was the right thing to do it right time. We did. Will -- offer any direction in other words can he. And he -- you guys and say look I'd really like to see you guys move this guy or that guy that's one part of it and I assume the bandits are included in this whole. Transaction or is that not the case. And the bandits are included if I think that's which is that right are they there they are included. And the reality is there's there is a legal agreement we we don't have to take direction from -- and all -- practical matter this is that between Dan and I we speak with them. Frequently and in fact I'm going to this with him in the game tomorrow evening Pittsburgh so. If he's got meaningful input you'll have access -- me and -- and and punctured ours so. It's there's no contractual obligation but the reality of it is it's gonna be paying a lot of money for the team and we respect the fact that. He'll be taking control this and we'll treated with respect so it's it's it's. It's not of the -- things that we go through here. Job. That's a question for Larry I guess -- two parts there. What can tell us about Terkel and number one and number two what what's in your future what you plan to. Welcome Terry. First I met him it's about about a year ago last march I think it was through my number of my former associates at the penguins I don't know -- you know but I. Did it for years and it penguins -- came back here. And he. Is a very hands on guy he's very entrepreneurial. He's not a corporate type he's spinning guy drilling gas wells and making some pretty risky investments and -- -- -- for quite some time. I -- graduated from Penn state university retaining most of you do now. And he has strong he loves hockey man he's I think he's had kids have played. He says association with the Penn State hockey team for quite awhile. And he. And loved buffalo he lived here I think for seven or eight years in Orchard Park and so I think that. Like a lot of people it's hard to get people to come here but when they when they did get here they don't wanna leave so. I hope that those in -- you'll be hearing from him soon and you get to know him. Swells you know us and that's a good thing that. A hump as far as our future plans have really don't have any I there's lots of things that. That I wanted to do with it places in the world I wanna see and I'm gonna spend a lot of time doing that but I think -- for right now. You know I've been through a lot of -- pretty serious health thing this year and so I I wanna get really good shape and and you know we'll see from there I don't have any definite plans. Paul they're addicted just expounded that was that your decision not to continue with the sabres to Terry not offer you any finger it was a purely your decision -- -- tonight. I think it's kind of a neutral saying I think that. I know that. Us coming -- we did the same thing that we want her own management team and I think that that. -- certainly wants to do that I don't really wanna talk about his plans because it that he should do that that. I think it's sort of a mutual thing. I was. You know I loved working for Tom and he was my partner and I think that the right thing to do is when you when you're not there you the only together and that's what I wanna do. Mike two questions spurt for Tom the first one would be what. Direction did you give Darcy in this particular offseason knowing you're in the midst of a potential ownership shift in terms of building -- team. And the second question would be take us through this the time line of offering Garcia and -- extensions and how that. Went through and and why that was never reveal publicly until this week. Okay level it Larry -- the cycle because he's far more qualified both personally and -- which direction they get Darcy. Well the negotiations. The conversation with Terry started at number of months ago long before the season started. But at that time was just conversation. So the direction Darcy was very straightforward. We continue on our path we continues to everything we can to put the best team out there on the ice. And quite frankly we didn't elders or -- they had no idea that's currencies the Galena. -- it was appropriate to tell them there's still talking. And as you know many times these conversations don't -- past -- -- so if we didn't let it Alter anything we did altered. Yes -- -- extensions. We. Person low and we did it did the extension would rcn and have the conversations with Lindsay we we were not planning on selling the team we we want it to our subsidiary general manager of the future we want and we want it -- that your coach. The report that Carson's deal was done in the season simply isn't true we've we've reached an agreement I reached -- with Darcy. Sort of handshake I think it was us. First second week in August if I recall and we we. Had an agreement all done -- at the end of the summer there was a delay in signing it because there's an NHL pension problem that. It's as a -- printed the the NHL used to contribute all day the payments into the Pentagon on behalf general managers that switched. Three years ago so that's the club's responsibility. That the people with existing contracts were grandfathered so. This starts its first contract under the new system and we had to sort out a bunch of who what who know what to whom his cars that -- was concerned it was not a deal that was done. September October you can during the season as far as he's concerned England he's been pretty clear about. He's told you. Accurately what the situation was I think feeling I had to that is is that. Once we got into the season. And we we as we all know we didn't have a great start he was very focused on fixing the team. I got sick I was here and the last conversation apparently knew before it went the hospitals let's deal with this -- get back and and then we were in to a full blown discussion about the sale and it was appropriate so. There's nothing. Complicated about it as far as why didn't we make it public. They've given the fact that we were in the discussion with Wendy we really didn't think that we should be doing that because we would -- what happened the other day where you -- one guys and immediately all the -- -- coach of the question said the coach where's your contract and we that our -- time was when we were announced both when they were completed and as I said -- sale transaction. Came in between that. -- -- Tom question for you mention -- -- becoming more and more ingrained in Florida launching new projects elsewhere. Is this kind of the final severing of your ties to this community is the last thing is this the last thing kind of holding you back I -- No I don't think so and can we define community as Western New York. Excellent a lot of entanglements of Rochester. For sure including still being chairman of the board paychecks that's continuing responsibility. I also have other business interest in upstate new York and I also have. Full. Relatives. Children grandchildren. Nieces and nephews are all walking around with a long face them because -- Gannett paper currencies tickets. But be that -- it may I'm still gonna have a very strong connection meaning to maintain my household in Rochester. And habits -- many friends and who knows what Larry and nine Mike in mountain and future. Kept against following up on that this is sports ownership still possibilities for the future for you. Well as I said to. Before it -- the sabres there was no chance. And I have been through this experience I wouldn't say that anymore and it's been very rewarding and very gratifying. I really like the atmosphere around the National Hockey League as far as the players are concerned how -- behavior on and off the -- Particularly -- guys so I'm. I would say it's within the room possibly possibly. I guess on that -- I think I asked you several years ago you would have down the -- any interest in. The Buffalo Bills should they become available I guess Alaska. That again right now it went up first I think the Buffalo Bills just like the bubble sabres are very important asset to this community. But the thing that it always comes to light is nobody has ever said that they're for -- are gonna be for sale. So a lot of this is all speculation which I think is just for the most part of almost a waste of time. Don't or else Wolfson is a very smart guy if he thinks he has in the state tax problems gonna have a state tax problem I don't have to assume he's already done something about. Now I know he plays its cards very close to us and I don't ever knows the Buffalo Bills are going to be so. I'll tell -- story it and I I don't want to make you think this is fact because I have no idea. But there's an there was an entrepreneur you probably know his name Bob what. I've let it transferred all of stuck to his children. Forty years before he passed away he had no static text from because whose ruthless. Act we don't know where else Wilson's status is -- I don't know. So I spend very little time thinking about the possibility the Buffalo Bills to realize -- importance community -- report. -- tablet that is a question for you Tom what advice have you given -- would you give -- Pakula as far as owning. This franchise in this market in this league and in particular. How to keep -- -- here. How to keep it. Well Terry's a business person and the other -- keep -- bibles to spend less than you've taken or at least the same amount. -- -- -- He's got to keep desire on both of those numbers. The only conflict or potential conflict of difficulties is. You have constituents within the community that think. They know how you should -- the organization. Okay and you're gonna be constantly. Picked on constantly. They call and it's somebody even said we couldn't run a convenience store. Well I've -- joint started companies -- have over 171000 employees and three billion dollars in sales I think I could run convenience store which you're gonna have to deal that kind of stuff. Okay it's petty it's Picayune excellence over. So. You know. Get a thick skin it's gonna come -- Trying to -- No I haven't. To I don't think I need to -- the theory goes. But can you tell me just that you know the date that there's said the contract that's one part of it into new. Tell us what. Because I know there. What year. Couple years ago and the percentage that you all what each of you -- before selling. Well I don't. Top of my head of the -- to terrorists that is contract. Because the way these work is that when he and I reached a deal I've done deals with cars and -- -- -- Renton almost everybody here. Once I should -- -- -- and I give it to a lawyer and quite frankly I don't even think about it until they put it economy's side so. I can tell you when I reached an agreement with him which was in August. And the only hiccup that I was aware of was. The pension contribution issue which had nothing to do with the contract he had to do with but the sabres -- the pension fund eccentric. As far as our -- I don't think we need to talk about what percentage of the ownership of the team we have I'll sell you say this view though because this. The enabling new documents and the way we can that we made a great deal allowing it -- -- contributor time. -- win. This came up I think time you're not the first one of the first conversations we had. About the sabres when he was trying to put together a plan to save and I said I don't know if I wanna go back. And we had a discussion and in the course of it you know he was he's theory you know I don't have everything else consecrated -- and great great mentor for me and he said at this stage in her life. He shouldn't you should take risky debt equity and so both Dan and I worked for. I don't know how many wells a long time. Making about a quarter of us this -- our counter parts make and other ventures. And we took this risk with a company that had traditionally lost in the site here's previous on the or magnitude of sixty million here so we took a big risk. We took a low salary. And whatever and I'm not gonna tell you what percentage we have or not but. Work we're getting a great -- court there's no doubt about it but I feel very comfortable -- it because I thought we did a great job and turning it around. And is much money as Terry has and I think he's going to be a great -- who's gonna do. Great things here. I think he'd tell you that is that if this team we're sitting around you're losing twenty million out here. Before expended on hockey players. I wonder went well I don't think it even been here for so long would have been gone seven years ago. And I don't think he's stepping up to take this thing over. What our goal is to make this work. We get a -- statement that back when we took this team over we were about the worst teams financially the national market leader. Close to. An anti labor agreement that would follow that. We knew it helped the middle. Because Pasco behest of benefit the majority of the team's. But we are never we were pretty clear it would help the bottom so our goal was to get out of the bottom and get into the middle and where more than in the middle -- So I'm confident that whatever labor agreement Gary negotiates next time we'll work for buffalo. Work believe me seven years ago it still wouldn't work no matter what he did so. That's what we did I know right to ask a different question you and your ass but I thought it was a completely insulated. Tom part of your legacy is owner here is the departure of some pretty prominent players like to re entry air. Does that fall below 1% that you mentioned when you start today and can you shed any light on the circumstances that allowed those prominent players he. Couple years ago. Well obviously. Maintaining. The salary cap was important. Part that if you noticed by the figures we were very close of the salary. And those gentlemen in Westport and opportunities to make exit definitely more amount of money. That we would be. -- to play either without going over the camp -- getting rid of some other key players so we had to make value judgment. You know and the benefit of hindsight I can give you reasons why we shouldn't let it happen and I give you a lot of good reasons why we did the right thing. -- mean if you look at the statistical results. And I'll give you just two players jury or fair to compare their statistical results illustrated here period. To. -- -- -- -- And from that basis if that's the only -- but from that basis we made the right decision that only dollar wise. But in the age of the players and their contribution. So you know every team with this line to get free agency. And a salary cap every team has to go through these gyrations look at Chicago Cleveland Stanley Cup and they lose 45 key players. Sure what they'd like to have kept the ball yeah which camp users salary -- -- enemy agents. What is the long range balance. In the case. Those two players we might have had to give up 34 -- quality players to keep them. We made a value judgment that set. This is as far as we could go we've made -- operatives they did take that they got better offers and its -- On politics. To belabor this issue that the one thing that's bugged me for seven years. Is that people in the media assume. That it's not a two way street. Both guys can stay here. Okay and I'm not suggesting they should've but. The player makes a choice to. And and we don't control that -- you know keep them here we have a right to keep them here we -- -- maybe native mutual agreement that we both would like to continue on. But when a player leaves it he has a responsibility. For his decision as well. So when he when he becomes a free agent goes to another team he made a choice. And Austin that. And sometimes we we wanna -- sometimes we don't the other thing that happens is is that we're in the business of protecting. The value -- younger players and what they're gonna cost us. And examples -- and -- surprise Tyler Myers is gonna cost savers Sunday a lot of money. And so Darcy and Terry an -- other people make decisions. Based on what he's gonna cost him future and we get the same we knew what Roy it was gonna cost into attack is gonna cost me doing Miller was gonna cause the common it was gonna cost. So it's not a simple -- key -- Jackson we did have -- -- contracts that he's. Would be very easy but when you multiply your contracts and free agency is such a young age it's a balance. That aggregate the second chances are station while we take from this -- both personally and for much. I'm really really grateful for. Leaving this time is much better the first time. And I remember when we -- I remember the night he called me it was Sunday night and so in the summer night -- and we've talked about it. And checked out. Hope you don't mind but. The first time that the best. Dan and I did take a look at this worm we did a set of projections. We went and we didn't know Tommy and I think had met him casually. And we gave incentives for a five year projections and it showed the franchise -- a substantial money every year and it looks. You -- well why would I do this. And said well we didn't say you should insist that you. Want it he said well I can get credit for being honest they've never had anybody come to -- looking for investment that showed -- -- business -- all did was lose money. And so we part ways and it was nice medium well then he called that that Summers this with may have been made mayor April. And he said he was a late Sunday night he said you know let's we can figure out a way to make this thing work I really think we can let's go do it. And I remember document and shortly after that and I said this this this would make a movie that no one would believe. That you know that you get a second chance given all the no democracy stuff all the stuff you guys were all over me about it and then coming in and and and being able to corrected and fix it twice actually -- -- also built the building down and so. It's been a real storybook thing I'm really really really grateful for. Sports. For timer Larry I do you balance. Difference between being -- end. And that is decided growing sports returns. The difference between being a fan Andy has -- Well. Some obvious signatures on the checks you become an exam. And we certainly know as a relationship between how well the team does and how much revenue you're gonna bring in so. I mean there's there's directly. It's directly proportional. I wasn't much of the spam before it started summary of sand now I do it so nice package I watch games every night that we keep the lights it was her plan. Because I enjoy it just centrist was not affect in the -- whatsoever. I don't visit to get much independent. Seven years in the -- missed half dozen games in person TV. So. Being an owner makes you an immediate -- So there's no separation between -- And -- him but go ahead Larry the. I just I think Jim's question to goers. And you're always -- because you're watching the gaming and you have the same emotions and you get mad at players like fans who you -- players -- -- game -- you. And the -- societies you have to separate data you have to. Really. Listen to and -- and take the advice of people that know this game real well. And that I'm referring to Garcia and our studies have every DeVine and and John -- known to some extent than you route. Is that. If your Sanyo react -- tiger this that area that had ever this. And and you know there's a time when when five assists and a governor Ryan Miller. Gave up six goals the first game you -- yours is the goaltender and analysts that guy's a bomb. A lot of you wanted to get -- -- effort last year that would be a fan reaction so. I did Garcia tremendous amount of credit and he's been able to advise us all these years -- really sticking it to you. Having confidence in his own ability to evaluate players and no. That these are young kids often we're talking about. And you're gonna make mistakes. We've made -- he's made is. But I think the percentage speaks well in terms it's both the win loss record in the number of players that we've drafted in Europe are part of the national likely very very good record that -- The draft for number one in the weeks ago. It's so I just wanted to clarify something on the bill's response you had earlier. So would you be interested in being a part of something should they become available for purchase. In the future and the second question I had is more from the news side do you have any political interest. In your future. At all. Would -- be interest in the bills. I think. The key issue would be the level. Concern I would have about -- lead in the community. And the higher the concern -- more interest from. If there were people here in the community the wherewithal and the desire. To take over the team. And didn't need what I had offered. It to that would be great to be having. The level of concern will vary greatly. Depending. Or my level of interest will depend greatly concerned. That's assuming nothing else happens in -- room someplace else. A separate religion from an inside politics. I'm gonna be and I told does going to be about them up and project it's not political it is governmental. And it will be announced a couple of weeks. WG object nominal. Tom I know and -- setback here. So I know it when it's -- he's looking forward to seeing you again today know that you've been with these players for a long long time that you meet with players and today it what did you say you can. We -- at 9:30 this morning. We reflective. Some of the fun times on events like. Jason problem -- goal in Ottawa which I'll never forget. The goal that he'll connect scored in the final game of the eastern finals against Carolina. That put us ahead in the third period reflects that those types things I told the proudest moment I had. This handing out to presidents' trophies presidents cup trophies. So. I think I've had a very good relationship with players and it's not really on top of them. It certainly know the moment and a and enjoyed social gatherings that type of thing. So and I have a very high regard for him. Not only is athletes it is individuals I think it's athlete goes -- very well. Respectful of their community where they are accurately and so forth so. -- -- -- -- That you'd. You'd mentioned that there were certain players that could not be treated me tells which players can not be -- and I can't do -- like -- -- To put on expert Tom Tom first of all are we to assume the large offer was -- also that wanted to move he feels bad assumption. That's that's it wrong exit. Let's not so minutes. How about what's city. Sect and the last thing would be you talk about. Value judgments that you had to make were forced to make the players. What you think about perception that a lot of fans have that through all the accomplishments of your rain which you talked about the beginning which. Certainly we're growing through. 2007. The the last four years you've taken. A presidents' trophy team and turned it into a non playoff team the team it's currently tenth place howdy DO at depth perception as your legacy as you please. She did I turn it is of that. Or reorder the players has some of the deliberately the coaches as a -- you don't think your decisions had some impact. Probably specifically. Which one would you say it. Have you not given. Larry the general manager any direction over how to spend money. Through the course of the last warriors that impact the the probably right is the only direction that Larry and Dan there's -- yet it is. We have to at least break even. That's. So are you saying they may fought occupants blessed we're here. Say the -- slaughter hockey judgments they made. You judgments and which players keep which please -- And how -- to pay them the same thing that 29 other teams trying as hard as we are to win go through every year. If you look at the fluctuations in the standings teams. Are all over the place which is the greatest thing that -- ever did this come up with a CBI. So that you have parity in the leak when you have parity that we have today. You can hand these things look at last year the sultanate place team went to the path it's -- Look at though Washington. The greatest team in the history of hockey last year where they this year struggling like that New Jersey hires. Kovalchuk. The one of -- greatest players and National Hockey League and find themselves in the next. So. You know. You've you've got to work with. -- you start with what -- -- at its track and I think these guys in their record shows. -- -- seven years. That they've done a very good job in managing this IQ organization what -- put -- guys and the fact that there maybe in tenth place today. How many -- differences that between intent and fifth. Three. Maybe four okay the margin of error in the National Hockey League so small between winning and losing -- go either way so quickly. That's what makes the sport jointly. As if every team was predictable every team won all the time nobody would go watch it. So they've done a marvelous job and look at the seven year history but -- won lost percentage that is -- good considering what they started. So -- head. I think the community should be here. And. Time did you just discuss. In seven years. The value that this team has in Western New York that you learned in YE. You know in that contract to sell you said you can't move this team and whether any hesitation and -- a new owners are disabled. If these things happen can I get out of that. -- Jason Terry Terry has no no interest whatsoever in my opinion to move the team does know is it recent -- to want to -- on this part of the country. And -- a great supporting community for a hockey team so there's no reason in the world. For him to wanna move it. That value to the community not just look at that junior tournament. And the revenue that -- came into the community look at these revenues generated. By air TV revenue and higher sales that are advertised. That is spent within the community. I think downtown buffalo would be. Ferries that it's this arena where particular dark batting cleanup. Forgetting hockey from them how about the other 189 events that have taken place. Because the Buffalo Sabres organization brought them into the community and as a Serena did to them. So it has tremendous. Tremendous financial benefit to community. And everybody would arguably say the same thing about the Buffalo Bills very important that the Buffalo -- numbers are bigger so they apparently. Have a bigger impact them. -- -- -- -- -- I just clarify one thing because so that we don't get this wrong. What we did when we bought this team. It was in bankruptcy we have the choice. To kick out the whole. Bunch of contracts including an on relocation agreement the city it's time it would have been child's play and just so we won't buy it -- to start. So it's more than Teri Figueroa. Tom chose to keep that in effect from the daily -- and with that -- relocation -- in effect it's gonna it's gonna pertained ad infinitum it's gonna go. -- on Terry's -- anybody else's. So I think it's important to note that and by the way during that time we we. Took on a bunch of other obligations to ex players and see you offenders in the community that we didn't have to take -- and just have. By point of reference we all. We're aware of the big issue with Wayne Gretzky last year whether -- can get paid everything by the Phoenix bankruptcy. They had that problem in buffalo we paid a whole slew of people that -- former players that had deferred contracts. And we have to do it. We've been easy to put it -- bankruptcy. It's so it's -- along those same lines. Two more questions over and -- Don't just curious from. An investment standpoint. How would you characterize. Your investment sabres -- worked out and how does that compare with your expectations that you had come again. Yet from an investment perspective as a reward was far greater than ever anticipated. There's no question about them. From financial perspective is it's been very rewarding. And that's what entrepreneurship and business is all about -- by any adding value and we thought we ended into the community. We created a lot of jobs or maintain a lot of jobs. And because we did a good job managing the process up it was financially rewarding. And you're so wrapped up like. Questions directed to where there are you going to be our continuing your involvement with injury can harbor development corporation. And also that you gentlemen and directly to you Larry briefed very blunt terms of the status outside in. Arena district gets he indicated an interest taking an active role in. Making this neighbor what are we all want it to be. Here is your first question no I'm gonna be with strippers leaving -- corporation as well I'm gonna. So this up here I'm gonna kind of cut off my involvement with other things in buffalo for now and then. -- Terry about the waterfront I think in the process we've taken through it not. You know in in precise detail but we have I have no idea of what his interest might be there at I don't know I don't know. Again thank you everyone for for coming and not take part in this today. Have a good day every. Day that.