By JAMES FINK
jfink@bizjournals.com | 716-541-1611

For B. Thomas Golisano, one of the most difficult parts of his deal to sell the Buffalo Sabres to Pennsylvania businessman Terry Pegula wasn't saying goodbye to the owners suite in HSBC Arena. It was informing his six grandchildren that he was selling the team.

"They used to love telling their friends that I owned the team," he said, "and they loved running around the arena and locker rooms."

The much-anticipated sale is expected to close within 30 days, with Pegula paying Golisano $175 million and assuming $14 million in debt for the popular National Hockey League franchise. A formal agreement on the sale was reached Feb. 1 and awaits approval from the NHL Board of Governors and a federal sign-off before a closing can take place.

For Golisano, it will be a bittersweet moment.

The founder of Paychex Inc. came down the New York State Thruway from his native Rochester in early 2003 to purchase the bankrupt and ownerless Sabres. He said he's still shocked that he ended up with the team and that it happened because Larry Quinn, now Sabres managing partner, lobbied him to buy the team. A bid by Buffalo businessman Mark Hamister fell apart when financial parameters weren't met.

"It is still surprising, even to this day, that no one else locally stepped up," Golisano said.

The deal with Pegula came about because of Quinn, as well. Pegula, who founded East Resources Inc., is a die-hard hockey fan who approached Quinn last summer about the possibility of Golisano selling the team. Quinn, with Golisano's blessing, did the bulk of the due diligence.

Golisano said he has had only a few face-to-face meetings with Pegula. So what's his impression of the new owner?

"He seems like a real gentleman and someone who is very hockey knowledgeable," Golisano said.

He speaks highly not only of Quinn but of General Manager Darcy Regier, coach Lindy Ruff, star goalie Ryan Miller and fellow minority owner Dan DiPofi.

"I consider them my friends," he said. "I'd play gin rummy with Lindy Ruff any day of the week."

While Golisano never intended to own the Sabres forever, the timing of the midseason sale resulted in some raised eyebrows locally and in hockey circles at the national level.

Four things drove his decision, he said, including concern about Quinn's health. Quinn had heart surgery in the fall.

Another factor was a new venture that Golisano expects to announce later this month. He also pointed to the sum Pegula offered for the franchise, which includes the Buffalo Bandits lacrosse team and all HSBC Arena operations.

"I felt it was time to move on, and the offer Terry made was such that it was difficult to say no. I didn't think I would ever get a higher or better one," he said.

Because of his busy schedule - he splits his time between Rochester and Florida - he attended only four Sabres games this season, including two at HSBC Arena.

Golisano said he does follow the team via the NHL Center Ice cable package and that he prides himself on missing just 10 games during the eight years he owned the team.

It has been an eye-opening experience, he added. He said he felt uncomfortable with the brickbats that frequently were directed at him, particularly when players such as Chris Drury and Daniel Briere left as free agents.

"Obviously, there is a different dynamic between owning the Sabres and Paychex," Golisano said.

"With the Sabres, you are subjected to day in and day out media coverage, with a lot of second guessing. It is a much different level of visibility and different set of eyes. What bothers me is all the second guessing we get from people about what we should have done."

He said he's proud to have brought financial stability to the Sabres. The season-ticket base rose from 5,800 to a capped-out level of 14,800. The Sabres sell out or come close for most home games.

Golisano lost $19 million in his first two seasons of owning the team, but the Sabres organization has finished in the black every year since 2005-06.

He said owning the Sabres is now the lead part of his legacy.

"Nobody wants to hear about Paychex, all they want to hear about is the Sabres," Golisano said.

Count B. Thomas Golisano among those who would be interested in buying the Buffalo Bills or being part of an ownership group.

That's only if the opportunity arises and with one major condition, however - namely, that if he didn't step forward, the Bills could be in danger of leaving Buffalo.

"My level of interest would be based on the level of concern (of the team leaving)," he said.

Golisano made those comments Feb. 3 in a farewell press conference as he sells the Buffalo Sabres to Pennsylvania businessman Terry Pegula. He included a non-relocation clause in the deal with Pegula that guarantees the Sabres will remain local. He rejected a $225 million offer for the Sabres because the team subsequently would have moved. Pegula is paying $175 million plus assuming $14 million in debt. The deal is expected to close within 30 days.

Golisano, however, was quick to point out the Bills are not for sale. Owner Ralph Wilson Jr. turned 92 in October and has repeatedly stated that the team will not be sold or leave the area as long as he owns the NFL franchise.

"The Bills, like the Sabres, are a very important asset," Golisano said. "No one ever said the Bills are for sale or are going to be for sale. I spend very little time thinking about buying the Buffalo Bills."

He called Wilson a shrewd businessman, adding that he assumes Wilson has the team's future dictated as part of his estate planning.

Golisano cited the late Robert Wegman, a fellow Rochester businessman who made detailed estate plans so his family was not negatively affected financially after his death.

Golisano said he would step into the Bills ownership picture only if it was evident that a new owner wanted to move the team from Buffalo.

"If there was that concern, I might do something," he said.

- James Fink