After a year of back-and-forth speculation, the Buffalo Bills franchise has been sold. The team was purchased by Terry Pegula, the owner of the National Hockey League’s Buffalo Sabres. Tim Graham of the Buffalo News had the big announcement:

I’m told tentative agreement has been reached between the Bills and the Pegulas and an official announcement should come today.

— Tim Graham (@ByTimGraham) September 9, 2014

Pegula has made a concerted effort to keep the Bills in Western New York, as other prospective buyers wanted to relocate the team to Toronto. A billionaire real estate investor, Pegula’s efforts have earned him the support of the state.

The exact price of the sale is unknown. According to NFL.com, the league finance committee will meet next week and Pegula could be in place as Bills owner as early as the October Fall League Meeting if 24 of the 31 owners vote him in.

The 63-year-old Pegula’s wife Kim will be a key executive in the new administration, comparable to her work with the Sabres. She and Terry have invested greatly in upstate New York, investing in the surrounding area of the Sabres’ First Niagara Center.

The Bills were on the market since longtime owner Ralph Wilson passed away this spring. The team won their opening game in Week 1 of the 2014 season, upsetting the Bears in overtime at Soldier Field in Chicago.

With their new owner finally in place, things are looking up for the struggling franchise. Now all they have to do is perform on the field.