BUFFALO, N.Y. (AP) - Sabres owner B. Thomas Golisano says he preferred to sell the team to Pennsylvania businessman Terry Pegula rather than move the team from Buffalo.
The $189 million sale is expected to close within 30 days, pending NHL and governmental approval.
Golisano says the windfall could have been greater if he'd accepted an earlier offer for $70 million more from someone he wouldn't identify at a news conference Thursday. But that would have meant moving the team.
Golisano bought the team out of bankruptcy in 2003. He's selling because of a new government-related venture he'll announce in Washington this month. The billionaire businessman has run unsuccessfully three times for governor in New York.
Minority owner Larry Quinn will step down as managing partner.