Billionaire, B. Thomas Golisano fights NYC mayor's bid to expand term limits

NEW YORK (AP) — Mayor Michael Bloomberg's bid for a third term hit an expensive obstacle when a billionaire businessman declared that he will spend some of his fortune to fight an expansion of the city's term-limits law.

The involvement by B. Thomas Golisano, owner of the Buffalo Sabres of the National Hockey League, significantly boosts the opposition campaign that appears to be gaining momentum each day. He said he does not believe the law limiting officeholders to two terms should be changed without voter approval.

"The people have the right and deserve the opportunity to make this decision," Golisano said.

The hockey team owner and philanthropist ranks as the 281st-richest American with a net worth of $1.6 billion, byForbes magazine estimates. Bloomberg's net worth, estimated at $20 billion, makes him eighth-richest.

Opposition to Bloomberg's efforts has grown in the two weeks since he announced his plan to change the term-limits law so he could run again. The former CEO of a financial information company argues that New Yorkers need him to stay on to manage the city through the financial crisis.

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