Buffalo Bills Sale
 

Terry Pegula, the multi-billionaire owner of the Buffalo Sabres apparently bid an NFL record $1.3 Billion for the Bills last night. Enough that he likely scared off some of the other bidders.

Only 2 other bids came in before the deadline, neither believed to be above $1 Billion. The others are Donald Trump (only in it to get his name in the news, few believe he's in it for real), and the Canadian group of Rogers Communications and Maple Leaf Sports Entertainment fronted by Jon Bon Blowme.

The Canadian group and Bon Jovi are HATED around here because everyone knows they have intentions to move the team to Toronto. There are actual Bon Jovi bans all over town.

LOL

Pegula will keep the team here for perpetuity and likely build a new stadium downtown. Interesting fact on Pegula is he recently sold $1.7 Billion in Fracking rights (to add to his $4+ Billion net worth). Buy rolling that profit into the Bills he will save major Capital Gains taxes.

Reportedly Morgan Stanley will whittle the bidders down to a couple in the next couple weeks and then the Trust will reopen a bidding war.

Here's hoping Pegula's cash wins out. The guy is loved here already for what he's doing for the Sabres and downtown (building a dual rink / hotel complex attached to the arena which he paid for in cash to attract tournaments, expand youth hockey, and build closer ties to USA Hockey and the area). If he wins the bidding for the Bills and builds a new stadium downtown there may just be petitions to rename the city Pegulaville!

LOL

Re: Buffalo Bills Sale
 

Sounds like potential good news for the football loving community of Buffalo! Thanks for sharing... never heard a peep about it out here in the middle of the Pacific.

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Awesome! Haven't heard about it out here in the middle of the cornfields either.

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yah, thanks for sharing Mike. Did not hear about it out here in Budland either :smoke:

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Here's a link to an update on the current status of the sale... Morgan Stanley is desperately trying to get a bidding war going, and failing. At this point it seems to be attempts to squeeze as much out of Pegula as possible.

http://blogs.canoe.ca/krykslants/nfl...m-sources-say/

FWIW, John Kyrk from the Toronto Sun has broken pretty much every story about the sale. He's a great follow if you're interested in staying in touch.

The NFL and their threat of relocation to major cities is such BS. In Buffalo's case the trust is trying to keep the Toronto threat alive and giving them exceptions to rebid just to squeeze more out of the local buyer who has already bid an NFL record amount for the team, and nearly 50% more than their recent Forbes valuation.

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Wow. That's totally NOT was is being reported on SportsCenter. Thanks for the link, Mike.

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It's been fascinating keeping up with the drama of this sale. More fun than the Bills themselves have been on the field in over a decade.

LOL

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It's a huge day in Buffalo sports history today as it's now being reported that the Trust has reached an agreement with the Pegula's to purchase the Bills. The sale price hasn't leaked yet but multiple outlets are reporting the sale as complete pending NFL approval which is anticipated in October.

http://espn.go.com/nfl/story/_/id/11...-buffalo-bills

The Bills home opener is Sunday against Miami (always a huge rival week). Jim Kelly, fresh off his 2nd battle with cancer is reportedly going to be part of a memorial for the late Ralph Wilson at the game. Add in the Pegula's coming in as new owners and the Ralph may well just implode this week.

Will be a fun game to tune into, even just for the atmosphere.

Re: Buffalo Bills Sale
 

Here's the latest on NFL.com about the sale to Pegula

http://www.nfl.com/news/story/0ap300...-buffalo-bills

Sale price is being reported locally as an NFL record breaking $1.4 billion. The Toronto group led by Bob Jovi reportedly bid $1.05 billion. No word on what Trump bid. Bon Jovi has already congratulated the Pegulas on Twitter (Buffalo still hates him LOL).

Jon Bon Jovi to @thebuffalonews: On behalf of Myself, Larry Tanenbaum and Edward Rogers, we wish Terry and Kim Pegula all the best ... (1/2)

Jon Bon Jovi to @thebuffalonews (cont'd): "... as they continue the legacy and tradition of the Buffalo Bills and the Wilson family." (2/2)

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Official word from the Bills.

http://www.buffalobills.com/news/art...5-50943235f6e9

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Congratulations! That's GREAT news for the good people of Buffalo (& the surrounding regions).

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Congratulations! That's GREAT news for the good people of Buffalo (& the surrounding regions).

And you too Mike!!!

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:goodpost: LOL

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:lmao::laugh::lmao:

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I can finally be a fan of my hometown team again. I've been completely ambivalent to them the last 7 years or so as the team was run into the ground with poor management and the impending doom of the team leaving.

Seriously, until the Pegula's emerged out of nowhere in 2011 and bought the Sabres there was pretty much a consistent belief that the Bills would relocate to Toronto upon Ralph Wilson's death. The Bills in Toronto series only enhanced that belief. The Rogers family, Tanenbaum and Bon Jovi had been scouting stadium locations in metro Toronto, even as recently as this past January. It was pretty much a foregone conclusion in many minds.

Then the Pegula's emerged on the scene 3 1/2 years ago with surprising deep ties to the region (Kim grew up in nearby Rochester and is a huge Bills fan and STH, Terry grew up in Pennsylvania but spent many years living in the southern tier of NY south of Buffalo and has been a STH and fan of the Sabres since the 70's), just nobody knew who they were because until 2010 they weren't billionaire's, just businessmen who owned some "small" company called East Resources. Then Terry sold the rights to portions of their natural gas/fracking rights and land holdings to Shell/Conoco for over $4 billion in cash. On top of that they recently sold additional land rights for another $1.7 billion, which they're using to buy the Bills reportedly in cash without financing. Simply amazing.

Who knew they'd make the most of their new-found wealth by creating a legacy. They've invested heavily into the city of Buffalo by purchasing both major league franchises, running the Sabres as a first class organization with no budgetary limits (night and day to the previous couple owners, reestablishing ties with former players and treating anyone who's ever played for the team like family), as well as propping up the downtown core with huge investments such as the $180 million Harbor Center project which is nearing completion, and has already been propped up with strong ties to USA hockey and will be hosting several big international tournaments,

In just 3 1/2 years they've entirely changed the perception of Buffalo in hockey circles. I'm real curious to see what they do with the Bills and football.

FWIW. rumors are already circulating that they are developing plans for a new downtown stadium / retail / hotel complex for the Bills in conjunction Delaware North Companies (owned by local billionaire and Boston Bruins owner Jeremy Jacobs) as well as some other developers.

Yesterday was a good day to be a Buffalo fan. And for once the future is no longer cloudy.

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:p

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LOL Burt. Bon Jovi made himself public enemy #1!

Even with the Pegula family OFFICIALLY ratified as new owners of the Bills at the NFL Owners Meetings yesterday, the fans still hate Bon Jovi. And the love for the Pegula family runs deep. They've invested incredible amounts into the region, and apparently have plans to build a new stadium downtown within the next decade.

Sunday's home game against New England is going to be a fun one to watch. Not only is 1st place in the division up for grabs, but the Pegulas will be introduced as the new owners during a pre-game ceremony.

Oh and a rocker is singing the national anthem... but NOT Bon Jovi. Instead Buffalo's own Johnny Reznick of the Goo Goo Dolls will be singing the anthem.

:D

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Damn I love the Pegulas! Love that they are more motivated to win shiny trophies than making money! The Bills are going all-in to become contenders.

Welcome to Buffalo Lesean McCoy!

Now, just need to find a QB LOL

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What a surprise by eagles

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McCoy will be huge in Buffalo with Rex!!

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looking forward to bidding him up in RFA and Mike trying talk me or someone else out of it when he approaches his max. :D

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Meh Bills just traded for Matt Cassel at QB. I guess as a veteran game manager type he could be ok, but I'm not wowed in any way by him.

As for McCoy, I think his numbers take another hit in 2015, unless the Bills do more to fix the offensive line which was brutal last year. Best case numbers for McCoy in 2015 will be similar to his 2014 stats IMO.

That said, he's still a huge upgrade over Spiller and the rest of the RB's.