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Sources: Terry Pegula set to buy Sabres

Updated: January 31, 2011, 6:02 PM ET
By Pierre LeBrun | ESPN.com

RALEIGH, N.C. -- The Buffalo Sabres will announce a purchase agreement by billionaire Terry Pegula on Thursday, multiple sources told ESPN.com Monday.

Progress of the Sabres' impending sale was updated at the NHL's Board of Governors meeting at All-Star Weekend.

Once the agreement is announced, the sale is expected to close within a month, sources said.

Pegula on Saturday morning met with the Board of Governors' executive committee. He is set to take over ownership ...

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