I think it was inevitable that the team would be sold. Karmanos has been divesting many of his holdings, as his family does not seem interested in running any of them and he is now 72 years old. Expect the Carolina Hurricanes to be sold in the near future, too.
However, had attendance been better the past few years, there may have been more interest from local businessmen to purchase the team and keep it here. Attendance was quite good during the 2006 & 2007 seasons, plus was still decent for a few years after that 2007 championship. It just seems that things have fallen off in the last 3-4 years. I have not looked at attendance figures to confirm this, so this is just going from memory of being at the arena all those years.
With the timing of the Hatcher and Legwand buying Sarnia announcement shortly after the sale of the Whalers, makes me wonder why they didn't want Plymouth. It's not like Sarnia has that much better attendance than Plymouth and Plymouth definitely has a better history of success. I know that the Whalers had to be out of Compuware by the end of the season because of the sale to USA Hockey, which may have contributed to it. It's not like Hatcher and Legwand just decided to buy a team spur of the moment. Also, the Whalers have been "quietly" for sale for a few years now. Seems like they could have made it work. Also always seemed like Legwand had good ties with the organization still since he would come back and skate in the alumni games.
It will really be a strange feeling Saturday knowing this will be the last game. Never attended a game where I knew it would be the teams last. It will be the end of an era for sure.