UPDATE 12:12 p.m. The Sabres deny that a letter of intent to sell the team has been signed. Here's the statement:
'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.'
EARLIER 10:18 a.m. The Hockey News reports that Terry Pegula has signed a letter of intent to purchase the Buffalo Sabres for $150 million.
There had been whispers that Tom Golisano was looking to sell the hockey club, and Pegula seemed like a logical choice given his wife's ties to Buffalo and his recent investment that brought a Division I hockey team to Penn State.
