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Bankruptcy Bowl

As we revel in the second round of this exciting playoff series, it seems like a distant memory, just three short years ago, when both the Buffalo Sabres and the Ottawa Senators were teetering on the brink of insolvency and obsolescence. Interestingly, both teams cited similar circumstances that got them to that point—a crushing debt load, operating in small, low-revenue markets and, in the case of the Senators, having to cope with a then weak Canadian dollar.

And, in both cases, it was the arrival of billionaire white knights—in Buffalo’s case B. Thomas Golisano of Paychex, and in Ottawa’s case Biovail founder Eugene Melnyk—that rescued the franchises.

The Sabres and Senators both filed for bankruptcy within one week of each other in January 2003. At the time the Sens listed a debt load of over $160 million, while the Sabres were carrying a debt of $206 million. In the Senators’ case, Melnyk’s bid for the team fell into place almost immediately, once it became clear that a fresh infusion of capital for former owner Rob Braden’s group was not going to happen.

In Buffalo’s case, things were far more complicated.

Control of the team was taken away from the Rigas family following the collapse of Adelphia Communications. While the league stepped in to take over day-to-day operations of the team, Mark Hamister and Todd Berman made an offer to purchase the Sabres, but that bid collapsed when it was revealed that Hamister’s bid was contingent on receiving $33 million in public dollars. Incredibly, Berman was later convicted of securities fraud involving his company, Chartwell Investments.

Waiting in the wings, despite being given the pariah treatment by local and state Republican leadership, was Golisano, whose bid to buy the team was a cash offer and free of contingencies. Bankruptcy trustees and the league eventually approved the purchase, and the Sabres’ future in Buffalo was assured.

So as we watch the exciting conclusion of this series, showcasing the best that the NHL is and will be in the future, pause for a moment and reflect on the disaster that was averted. That’s why it is really hard to hate Ottawa fans—we are them, and they are us. .

GAME ONE AND TWO RECAPS

Ottawa on the power play late, leading by one. IT’S OVER! Derek Roy and Tim Connolly get the odd man break and score! Game tied. Ottawa’s Brian Smolinski answers 24 seconds later. IT’S OVER! Buffalo pulls the goalie and Ottawa misses the empty net by a hair. Never mind—IT’S OVER! Tick, tock, tick tock…one final rush…the scramble…score! Connolly scores with 10.3 seconds left! With the score tied at six, were we expecting a long overtime? Nah! One rush, Ottawa’s Volchenkov bumblin’ and stumblin’, and Chris Drury puts it away for Buffalo 18 seconds into overtime. Final score 7-6 Buffalo—yet another “instant classic” that will be talked about for years to come, and one more epic Rick Jeanneret call: “These guys are good! They’re scary good!”

Game Two was all about Miller Time! Our guy Ryan again proved to be the better of the two rookie goaltenders in this series, standing and sprawling and doing his best imitation of a wall, stopping 43 shots, most of which came in the second half of the game, to lead the Sabres to a 2–1 win and a 2–0 series lead.

Buffalo’s penalty killing was superb, stopping all eight man advantages, many which came and went without a decent scoring opportunity. Jochen Hecht returned from an injury to score the game-winning goal.

So back to Buffalo they went. Will we be discussing the Conference Championship Series next week? Are we jinxing them by even mentioning it?

TARO SEZ

• Why is it that seeing Kate Smith’s singing hologram turns our stomach into knots, yet Ottawa Constable Lyndon Slewidge’s rendition of “Oh Canada” stirs our very soul?

• Does Buffalo Bisons skipper Torey Lovullo have any wisdom to impart to fellow coach Lindy Ruff? “Tell Lindy we did our part against Ottawa, now it’s up to him and his boys to finish the job,” joked Lovullo. The Bisons took three of four games against the Ottawa Lynx last weekend. Lovullo added, “I’m a huge hockey fan. Everyone in this Bisons clubhouse is watching the playoffs and cheering for the Sabres.”

• Plenty of Sabres postseason records fell in the game one classic. Try these on for size: shortest OT game, quickest Sabres OT goal, quickest Sabres goal after opening faceoff, most goals (both teams) in game, fastest four goals (two teams) and a tie for most shorthanded goals in one game.

• From the Sabres’ own stat geeks: Connolly’s late goal in regulation and Drury’s OT winner made for the first time in NHL history that a road team won a game when scoring a goal in the last minute of regulation and the first minute of overtime.

• Did you see the look on Ottawa GM John Muckler’s face after his team lost game one? His stonefaced look of disgust was eerily similar to when the Sabres eliminated the Sens from the 1997 postseason, only then he was our GM.