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The Portland Sabres?

Buffalo, NY – As local investors try to organize a bid to buy the Buffalo Sabres from the financially troubled Rigas family, there's a report that Microsoft billionaire Paul Allen has made a substantial cash offer for the team, in order to relocate it to Portland Oregon.

League sources tell Channel 2 that the NHL is still committed to finding local ownership in order to keep the team in Buffalo.

The Buffalo Sabres extended qualifying offers to their eight restricted free agent players, in advance of a Sunday deadline.

The team also exercised one year contract options on Jay McKee and Curtis Brown.

Adelphia Communications, which is now operating under bankruptcy protection, says it plans to keep its Western New York cable systems operating.

Interim Adelphia CEO Erland Kailbourne tells the News that some layoffs are expected as the company reorganizes and likely sells off some of its assets to reduce its debt.