Sabres owner Tom Golisano has agreed to sell the NHL franchise to Pennsylvania businessman Terry Pegula.
The team announced the agreement, but details were not released.
A news conference has been scheduled for Thursday.
ESPN.com's Pierre LeBrun previously reported the agreement, which is subject to league approval, includes $175 million for the Sabres and an additional $14 million in liabilities.
Sabres Have Agreement To Sell Team