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NHL Critical of Giambra's Bankruptcy Comments

Buffalo, NY – NHL commissioner Gary Bettman says it's inappropriate to speculate that the Buffalo Sabres will declare bankruptcy before they can be sold.

Bettman's comments came a day after Erie County Executive Joel Giambra told the Associated Press that bankruptcy might be inevitable. The Sabres have more than $150 million in debt to Adelphia Communications.

The Sabres are currently run by the NHL. The league is looking for prospective owners to keep the team in Buffalo. The Sabres are worth about $85 to $100 million.

Giambra says he learned of the possible bankruptcy by talking to various groups who were afraid to bid without knowing if they might be liable for the debt.

Giambra says he's glad the NHL wants to keep the team local, and that he's willing to support the process.