 In December, Pegula officially expressed interest in buying the Sabres for $170 million and submitted a letter of intent to the NHL.In January, Golisano reportedly issued a counteroffer with an asking price of US$175 million.Pegula and Golisano reached an agreement to sell the team on January 29, 2011, with Pegula purchasing the team for $189 million ($175 million with $14 million in debt included) with the Sabres and Golisano officially making an announcement in a press conference on February 3, 2011.