According to many sources, billionaire Terry Pegula has signed a letter of intent to buy the Buffalo Sabres for about $150 million dollars. The Buffalo Sabres are denying the report and nothing has been confirmed yet.
This would be a huge deal in Buffalo. It would mean the end of the Tom Golisano ownership of the Sabres which has had its ups and downs through his short time here. It'd also signal a new beginning for the team and organization.
Pegula is from Pennsylvania and is the CEO of East Resources Inc. He is a self made billionaire and attended Penn State. Earlier this year, he donated $88 million dollars to Penn State to build a division 1 hockey program.
If Pegula buys the team, he will keep the team in Buffalo. He has lived near Buffalo before and his wife is from Fairport. He is a big fan of hockey and understands that Buffalo loves its hockey.
This is really surprising news if this story is true. While we all knew that Golisano was possibly trying to sell the team, we didn't know that it was going to happen this soon. Buffalo should be excited if this deal follows through.
More updates on this story to follow.
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