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Report: Pegula Signs Letter of Intent to Buy the Sabres

From Ken Campbell of The Hockey News:

THN.com has learned that billionaire Terry Pegula has signed a letter of intent to buy the Buffalo Sabres from Tom Golisano for about $150 million.

Pegula is the founder and CEO of East Resources, one of the largest privately held companies in the United States. A graduate of Penn State University, he and his wife Kim, recently donated $88 million to the school to help fund a new arena and establish a Division I hockey program.

More to follow.


Edit 11:42 a.m. ET :  Sabres Managing Partner/Minority Owner Larry Quinn has released the following statement:

“Reports regarding the sale of the Buffalo Sabres tend to surface from time to time. There have been several inquiries in the past few years regarding this subject. Our company policy is we do not comment on them because people make inquiries all the time. Some of these inquiries are serious, some are not, some make the media and others do not.  The report that a $150 million letter of intent has been signed is simply not true.”

Filed in: NHL Teams, Buffalo Sabres, | KK Hockey | Permalink
  Tags: buffalo+sabres, terry+pegula

Comments

Evilpens's avatar

Wait that can’t be true !! The Sabres bigwig released a statement saying they weren’t selling the team yesterday tongue wink

Posted by Evilpens on 11/30/10 at 02:22 PM ET

Primis's avatar

So long as the words “Jim” and “Balsille” don’t appear in conjunction with this at any point, I’m fine with it.

Posted by Primis on 11/30/10 at 04:09 PM ET

Evilpens's avatar

Primis hahahaha I hear ya LOL

Posted by Evilpens on 11/30/10 at 05:31 PM ET

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Paul Kukla founded Kukla’s Korner in 2005 and the site has since become the must-read site on the ‘net for all the latest happenings around the NHL.

From breaking news to in-depth stories around the league, KK Hockey is updated with fresh stories all day long and will bring you the latest news as quickly as possible.

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