Terry Pegula expected to be approved as Sabres owner by NHL executive committee, board to vote after sale

Ken Campbell
2011-01-28 23:11:00

RALEIGH, N.C. – Buffalo Sabres soon-to-be owner Terry Pegula is not officially on the agenda for Saturday’s board of governors meeting, but the sale of the team to the Pennsylvania billionaire from Tom Golisano is on track to be completed very soon.

THN.com has learned that Pegula is in North Carolina this weekend for the all-star festivities and will meet with the NHL’s executive committee prior to the board of governors meeting. It is expected Pegula will be approved by the executive committee, which is made up of six of the most influential owners in the game, and that will lead to a vote from the entire board.

That vote will not be held Saturday because the sale is not complete, but everything points to the sale being officially completed within the next two weeks. It’s believed Pegula will buy the Sabres for somewhere between $150 million and $175 million.

Pegula, who made his fortune in oil and recently donated $88 million to fund a new arena and varsity hockey team at Penn State University, has been in negotiations to buy the Sabres for the past two months.