It's official!! - Sabres reach agreement to sell franchise

February 1, 2011 Updated Feb 1, 2011 at 9:32 PM EDT

By WKBW News

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It's official!! - Sabres reach agreement to sell franchise

February 1, 2011 Updated Feb 1, 2011 at 9:32 PM EDT

Buffalo (WKBW.com) The Buffalo Sabres announced on Tuesday that the team has reached an agreement to sell the franchise to Pennsylvania Billionaire Terry Pegula. A news conference will be held on Thursday. According to reports the purchase price is expected to be $189 million dollars. The official release from the team is below:



The Buffalo Sabres today announced that Tom Golisano has reached an agreement to sell the Buffalo Sabres and its related companies to Terry Pegula. The agreement, completed at 1 p.m. today, is subject to certain closing conditions including review and approval by the National Hockey League. It is expected the NHL review process will take several weeks to complete.



Tom Golisano and Larry Quinn will hold a press conference on Thursday at Noon in HSBC Arena. There will be no further comment until the press conference.



Terry Pegula will not be at Thursday’s press conference.

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