Will Pegula buy the Sabres?

BUFFALO, N.Y. (WIVB) - News of a possible Sabres sale continues to develop since a report first broke Tuesday on News 4 at Noon.

Wednesday morning the Sabres still deny that there is any signed offer to buy the team.

But a new report suggests a new owner could be introduced as early as next week.

"I'm not the easiest guy to track down," Terry Pegula said in a YouTube video.

News 4 couldn't track down Terry Pegula to talk about reports that he's buying the Buffalo Sabres.

But The Hockey News reports the Pennsylvania oil and gas billionaire who has lived in western New York has signed a $150 million deal to buy the team.

Reporter Ken Campbell says the deal with current team owner Tom Golisano could be done within the next six weeks.

Campbell said, "I don't think they've ever been actively shopped or for sale, but I think Golisano has made it clear that he'd be happy to divest himself of his interest in the team if the right buyer came along and this guy appears to be the right buyer."

Campbell says one of the sale's conditions would be keeping the the team in Buffalo.

The potential buyer will only be good news for the team,according to TheHockeyNews.com. They point out, just recently, Pegula and his wife Kim donated $88 million to Penn State so they could build an arena and start Division 1 hockey programs.