SportsBlast 7.0 NHL Commissioner Updates Pegula

February 17, 2011 Updated Feb 17, 2011 at 6:26 PM EDT

By Jeff Russo

February 17, 2011 Updated Feb 17, 2011 at 6:26 PM EDT

Buffalo ( NHL commissioner Gary Bettman said on Thursday afternoon that the approval of the sale of the Buffalo Sabres to Pennsylvania Billionaire Terry Pegula is "on schedule". Bettman says the voting by the NHL Board of Governors is an "on-going" process, and should be done "soon".

Pegula's deal to purchase the franchise for a total of $189 million dollars from Tom Golisano would then go through the normal closing process, which is expected to be finalized by next week.

Speaking from Florida on a conference call Bettman discussed the approval process. "The vote is an ongoing process. Being conducted by fax. We do it by fax when we don't have a meeting scheduled so there is a period of time that people have to vote. Then after the vote, assuming approval, you have to go through the closing of the transaction. Everything is on schedule. It's just not done yet.".

We will have the latest on the Sale of the Sabres, including more from Gary Bettman on Eyewitness News at 5 and 6.

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