Sabres Announce Sale

February 3, 2011 Updated Nov 26, 2013 at 2:30 AM EDT

By WKBW News

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February 3, 2011 Updated Nov 26, 2013 at 2:30 AM EDT

BUFFALO, NY ( WKBW ) Current Buffalo Sabres owner Tom Golisano officially announced the sale of the hockey team to businessman Terry Pegula.

In a lengthy noon news conference, Golisano was flanked by Managing Partner Larry Quinn and Chief Operating Officer Dan DiPofi.

During his opening remarks carried LIVE on Channel 7's "Eyewitness News at Noon," Golisano commented that the deal he cut with Mr. Pegula included a covenant that the team remain in Buffalo.

Golisano also recalled a time just before he purchased the team when a Buffalo News editorial commented that he should not purchase the team. He noted that he was happy he did not listen to that advice.

Mr. Golisano noted that he made almost 300 trips from his home in Rochester during his ownership years, and recalled many moments including the playoff run the team experienced a few years ago.

Later in the news conference, Larry Quinn noted that the there is a short list of players who will not be traded.

Click the video to see a portion of Mr. Golisano's comments.

Watch for complete coverage with Eyewitness Sports Director Jeff Russo and Reporter Shawn Stepner on Channel 7's Eyewitness News and online at wkbw.com