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Report: NHL officially approves Terry Pegula as new Buffalo Sabres owner

Feb 18, 2011, 9:04 PM EDT

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B. Thomas Golisano AP

Terry Pegula’s journey to become the new Buffalo Sabres owner might be in “mere formality” mode, but surely they hope to get it done sooner rather than later. Especially when you consider the fact that the still-very-much-in-it team finds itself only 10 days away from the trade deadline.

Joe Buscaglia of WGR 550 points to a “high ranking league source” who said that the NHL Board of Governors officially approved the sale of the team to Pegula, with an official announcement reportedly coming Tuesday.

As we discussed a couple weeks ago, the team already announced the sale of Pegula for a total of $189 million (including some debts), but it couldn’t be set in stone until the league’s big wigs gave it the thumbs up.

This ownership change comes at a nice time for Buffalo, as the new owner can support (or deny) moves made by the Eastern Conference bubble team during the deadline. We’ll let you know if anything changes, but it appears that the hockey-loving billionaire will indeed be the Sabres’ new owner.

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