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Sabres deny "letter of intent" for purchase of team

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WBFO News file photo
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Buffalo Sabres minority owner Larry Quinn

By Eileen Buckley

Buffalo, NY – The Buffalo Sabres deny that a Pennsylvania billionaire has signed a letter of intent to buy the Sabres for a $150 million.

Reports surfaced that Terrence Pegula has made an offer to buy the Sabres from majority owner Tom Golisano. Sabres minority owner Larry Quinn told the Associated Press that Pegula is "a great guy,". But is not confirming the report that Pegula is interested in buying the franchise.

The Sabres released the following statement after 11 a.m. Tuesday morning.

STATEMENT FROM SABRES MANAGING PARTNER/MINORITY OWNER LARRY QUINN

Buffalo Sabres Managing Partner/Minority Owner Larry Quinn in response to The Hockey News report that a letter of intent has been signed to sell the Buffalo Sabres:

"Reports regarding the sale of the Buffalo Sabres tend to surface from time to time. There have been several inquiries in the past few years regarding this subject. Our company policy is we do not comment on them because people make inquiries all the time. Some of these inquiries are serious, some are not, some make the media and others do not. The report that a $150 million letter of intent has been signed is simply not true."