- NAACP: Detroit water shutoffs are racially motivated
- Obama family set to buy $4.25M desert home in California: report
- Big milestone for Britain’s little Prince George who turns 1
- Murphy: Israel must be wary of Hamas using civilian deaths for recruitment
- Royce: Putin recruiting ‘every skinhead and malcontent around Russia’
- Nancy Pelosi is adamant: Congress worked together when Bush was president
- ‘Slender Man’ stabbing victim receives Purple Heart from anonymous veteran
- Kentucky city called socialist for buying gas station, undercutting competitor fuel prices
- Israel hits five mosques, sports complex in overnight Gaza strikes
- Hillary Clinton dogged for refusing reporters’ questions on book tour
AP source: Pegula set to take over Sabres
Question of the Day
BUFFALO, N.Y. (AP) - Pennsylvania billionaire Terry Pegula is scheduled to take control as owner of the Buffalo Sabres next week, a person familiar with the franchise’s sale told The Associated Press on Thursday.
NHL approval of the sale could come as early as Friday, and Pegula would then close on the $189 million transaction by Tuesday or Wednesday, the person said speaking on the condition of anonymity because the NHL has not announced a timetable on the sale process.
Pegula has ties to western New York as his wife, Kim, is from Rochester, and they previously lived in Orchard Park, a Buffalo suburb, and Olean, a 90-minute drive south of the city. As part of the deal, Pegula has committed to keeping the franchise in Buffalo.
He is the founder and former president of the energy company East Resources Inc., a major player in Pennsylvania’s burgeoning natural gas industry that was sold to Royal Dutch Shell PLC for $4.7 billion last year.
Pegula has declined comment until the sale is completed. He has been described as a fan of the team and also has a deep interest in hockey.
In September, the Pegulas made the largest private gift in Penn State history, donating $88 million to fund a new multipurpose arena and help upgrade the men’s hockey program. The Nittany Lions will make the move to Division I hockey in the 2012-13 season.
Pegula, 59, is a Penn State graduate and has an estimated worth of $3 billion. He was most recently ranked 110th on Forbes magazine’s list of wealthiest Americans.
The sale should be completed in time for Pegula to oversee the Sabres plans in leading up to the NHL trading deadline on Feb. 28. Pegula has already played a role in those plans. In announcing the sale, Golisano said he and Pegula agreed on a short list of players who wouldn’t be traded.
After a slow start to the season, the Sabres have rallied back into the playoff picture by going 13-5-2 in their past 20 games following a 2-1 loss to Toronto on Wednesday. Buffalo is ninth in the Eastern Conference standings, two points behind Carolina, which holds the eighth and final playoff spot with a little under two months left in the season.
Pegula also will have to determine whether to retain general manager Darcy Regier, who signed a two-year contract extension earlier this season, and whether to re-sign coach Lindy Ruff, who is in the final year of his contract.
Ruff has maintained he wants to stay, though he did not accept a contract extension offered to him last fall. He is the NHL’s only coach to win 500 games with the same team.
U.S. appetite for drugs begets violence migrants are fleeing
- IRS seeks help destroying another 3,200 computer hard drives
- Rep. Jared Polis' anti-fracking crusade riles Colorado
- Obamacare dealt massive setback by federal appeals court
- Jewish woman booted from JetBlue flight over fight with Palestinian
- LYONS: Small-arms treaty, big Second Amendment threat
- MERRY: Handicaps in Hillary's way
- PRUDEN: A deadly enemy within exacerbating immigration crisis
- YOUNG: A sinking presidency, deeper after November?
- Hamas terrorists wear Israeli army uniforms to ambush soldiers in Gaza
- Hillary Clinton dogged for refusing reporters' questions on book tour
Obama's biggest White House 'fails'
Celebrities turned politicians
Athletes turned actors
20 gadgets that changed the world
Fighting in Iraq