Terry Pegula Meeting With Buffalo Sabres

6:54 PM, Jan 12, 2011   |    comments
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  • Terrence Pegula

BUFFALO, NY - Terry Pegula, potential buyer of the Buffalo Sabres was at HSBC Arena on Tuesday. 

Neither Pegula nor the Sabres talked about the visit.

The organization, however, did issue the following statement:

As reported in various media outlets, Terry Pegula visited the Buffalo Sabres offices today for informal discussions. Neither the Sabres nor Mr. Pegula are available to comment on the visit.

It is not clear if Pegula met with players or members of the Sabres organization.

"I've got no comment," said Sabres Head Coach Lindy Ruff, following the team's 5-3 loss Tuesday night to the Philadelphia Flyers. "I was worried about winning the hockey game. I didn't even know he was in today," Ruff told WGRZ-TV.

Asked if the impending sale has become a distraction for the team, Ruff replied, "No, not at all. The mistakes we made on the ice had nothing to do with Mr. Pegula being in ..if he was in."

"I'm quite sure the sale is progressing and he (Pegula) would not be here in this building if it wasn't," said Steve Manson, Publisher of Western New York Hockey Magazine.

"I've always felt the quieter things are the more they're progressing. It's when they go public that it seems to really stall things, so I have a feeling this sale is going through very smoothly and he's taking a low key attitude which is probably the right way to do it," Manson said.

Two On Your Side reported a few weeks ago that Pegula had reached a deal with Sabres owner Tom Golisano to purchase the team.

Our source said two weeks ago that Golisano reached an agreement in principle for the sale of the team to Pegula, but Golisano did not want to announce the deal during the World Juniors Hockey Championship.

Once the deal is announced, the sale still needs to be approved by the NHL's Board of Governors, but given Pegula's wealth, and his commitment to keeping the team in Buffalo, that's expected to be a mere formality.

Pegula is a self-made billionaire, who took a $7,500 loan from friends and family and started East Resources, building it into one of the largest privately-owned companies in the country.

He is listed at number 110 on the Forbes list of wealthiest Americans, with a net worth of $3 billion.

Read more about Terry Pegula.


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