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It’s official: Terry Pegula is the new owner of the Buffalo Sabres

Terry Pegula

Buffalo Sabres owner Terry Pegula speaks during a news conference announcing the new ownership of the NHL hockey team in Buffalo, N.Y., Tuesday, Feb. 22, 2011. (AP Photo/David Duprey)


If you’ve been following along with us, this shouldn’t come as a surprise, but the NHL announced that its Board of Governors unanimously approved the sale of the Buffalo Sabres to Terry Pegula today.

To refresh your memory, the total cost of the sale is said to be approximately $189 million. While you can never be certain how an owner will conduct his hockey business - especially in such an unstable economic climate - all indications point to Pegula being an “upgrade” as the Sabres’ owner.

It appears as if he boasts two qualities that can be very helpful in a great owner: he’s really rich (reportedly a billionaire) and is a genuine fan of hockey. That combination could be especially useful during the trade deadline, although the team might not be in a position to “buy” since they’re locked in a ninth-place tie in the East right now.

So in the worst case scenario, Pegula might not have a chance to showcase a new Sabres era until the free agent frenzy in the summer. Here is what Gary Bettman said about Buffalo’s behind the scenes shuffle.

“We are pleased to welcome Terry to the National Hockey League,” Commissioner Gary Bettman said. “Terry’s clear commitment to the Sabres and the NHL signal the start of an exciting new chapter in the history of the franchise. We also thank Tom Golisano and Larry Quinn for their devotion to the Sabres, the fans and the city of Buffalo.”

(Photo of Terry Pegula via The Associated Press.)