Kukla's Korner Hockey
by @DaveDavisHockey on 11/30/10 at 12:08 PM ET
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.”
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