Sabres owner denies intent to sell team

The Buffalo Sabres celebrate a goal against the Toronto Maple Leafs during the first period of...

The Buffalo Sabres celebrate a goal against the Toronto Maple Leafs during the first period of their NHL hockey game in Buffalo, New York November 26, 2010. (REUTERS/Doug Benz)

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, Last Updated: 12:16 PM ET

BUFFALO, N.Y. -- Buffalo Sabres managing partner and minority owner Larry Quinn issued a statement on Tuesday denying a report that a letter of intent to sell the team has been signed.

"Reports regarding the sale of the Buffalo Sabres tend to surface from time to time," said Quinn. "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."

The Hockey News reported on Tuesday that billionaire Terry Pegula, founder and CEO of East Resources, an exploration and development company that operates more than 2,500 oil and gas wells in several states, signed a letter of intent to buy the Sabres from majority owner Tom Golisano for $150 million.


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