Buffalo Bills Sold (1 Viewer)

[jurb26]

http://www.nfl.com/news/story/0ap3000000392032/article/buffalo-sabres-owner-reaches-agreement-to-buy-bills?akmobile=ios-tablet&akcarrier=other

The Buffalo Bills have found their new owner.

NFL Media Insider Ian Rapoport reported Tuesday that Buffalo Sabres owner Terry Pegula has reached an agreement to buy the Bills, according to a source informed of the process. The deal should become official on Tuesday.

The Pegulas have garnered great support from public officials and business leaders for their committment to keep the Bills in Western New York. The 63-year-old billionaire found success as a natural gas and real estate mogul.

"It's historic for Buffalo," the source told Rapoport.

The league finance committee meeting is next week and Pegula could be in place by the NFL's fall meeting on October 7-8.

The price tag for the franchise is not yet known. The Cleveland Browns sold for approximately $1.05 billion in 2012. The Dolphins sold for a record $1.1 billion in 2009, a deal that included Sun Life Stadium.

The Bills went up for sale after Ralph Wilson, the franchise's founding owner, passed away in March. Team president Russ Brandon has been running the team's operations.

 

[Athletic Supporter]

Very good news!

 

[Steve Tasker]

One of the best days in both Bills history and the history of the city of Buffalo in the last 50 years.

Unbelievable.

People are calling WGR in tears. Even the show hosts were getting choked up.

 

[GroveDiesel]

Everything's coming up Millhouse!

 

[Shutout]

Great news for the city and the team. Congrats. As I get older, I think I understand better what the baseball purists fight for so much.

It would be hard to imagine the L.A. Bills or something. They should always be in Buffalo. Good for the city. Good for the league.

 

[OldMilwaukee]

Miami has no chance this Sunday!!!

 

[SaintsInDome2006]

Congratulations, Buffaloans!

 

[Timmay]

Congrats Buffalo!! Good to hear.

 

[rockaction]

One of the best days in both Bills history and the history of the city of Buffalo in the last 50 years.

Unbelievable.

People are calling WGR in tears. Even the show hosts were getting choked up.

Nice. Hope it works out for Buffalo fans.

 

[matttyl]

Miami has no chance this Sunday!!!

Wonder if the line moves with this news. They are possibly also playing for sole possession of #1 in the division (assuming the Jets can't win at Lambeau).

 

[steelwind]

How does this play out in terms of fantasy football?

 

[Grigs Allmoon]

 

[matttyl]

How does this play out in terms of fantasy football?

? Buffalo will still be a not so sought after spot for NFL free agents (unless they drive a dump truck full of money to the bargaining table like they did with Mario Williams).

 

[Resident A]

How does this play out in terms of fantasy football?

? Buffalo will still be a not so sought after spot for NFL free agents (unless they drive a dump truck full of money to the bargaining table like they did with Mario Williams).

I have a feeling Pegula will change that perception. He will finally get a big name coach after Marrone's tenure is over. The Bills need a powerful owner to compete for FAs as a small market team, and now they have one.

 

[Bills_Fan11]

? Buffalo will still be a not so sought after spot for NFL free agents (unless they drive a dump truck full of money to the bargaining table like they did with Mario Williams).

Because FA's are why good teams are good?

 

[Aaron Rudnicki]

GBTP

best thing to happen to Buffalo. nobody knew who he was a decade ago and now he will own both major professional sports teams. pretty awesome.

new stadium downtown would be nice too.

 

[Area51Inhabitant]

Making it rain baby. Making it rain.

 

[Steve Tasker]

"This is, in my mind, without a doubt the greatest sports day in Buffalo history"

- Joe Buscaglia

 

[BobbyLayne]

GBTP

best thing to happen to Buffalo. nobody knew who he was a decade ago and now he will own both major professional sports teams. pretty awesome.

new stadium downtown would be nice too.

Coffee Rich Stadium anyone?

Happy for Bills fans.

I am continually amazed Detroit is one of a dozen or so cities with four major sports franchises. Three of those teams are secure (Mr. I owns the Red Wings/Tigers, for better or worse the Fords control the Lions). The Pistons now have a California based owner. No telling what might happen at some point.

Would hate to see any original AFL franchise lose their team. Truly great news for the area but the NFL as well.

 

[Mile High]

GBTP

best thing to happen to Buffalo. nobody knew who he was a decade ago and now he will own both major professional sports teams. pretty awesome.

new stadium downtown would be nice too.

Does the NFL allow you to own and run another sports team? Kroenke had to give up running the Nuggets and Avs to his son to get the Rams

 

[matttyl]

? Buffalo will still be a not so sought after spot for NFL free agents (unless they drive a dump truck full of money to the bargaining table like they did with Mario Williams).

Because FA's are why good teams are good?

Sure has helped Denver out.

 

[Area51Inhabitant]

GBTP

best thing to happen to Buffalo. nobody knew who he was a decade ago and now he will own both major professional sports teams. pretty awesome.

new stadium downtown would be nice too.

Does the NFL allow you to own and run another sports team? Kroenke had to give up running the Nuggets and Avs to his son to get the Rams

If the team you already own is in the same city than you can also own that city's NFL franchise.

 

[Aaron Rudnicki]

GBTP

best thing to happen to Buffalo. nobody knew who he was a decade ago and now he will own both major professional sports teams. pretty awesome.

new stadium downtown would be nice too.

Does the NFL allow you to own and run another sports team? Kroenke had to give up running the Nuggets and Avs to his son to get the Rams

as long as both teams are in the same city, yes.

Bills should be locked into Buffalo for a long time.

Toronto and Bon Jovi> glll peas

 

[Mile High]

GBTP

best thing to happen to Buffalo. nobody knew who he was a decade ago and now he will own both major professional sports teams. pretty awesome.

new stadium downtown would be nice too.

Does the NFL allow you to own and run another sports team? Kroenke had to give up running the Nuggets and Avs to his son to get the Rams

as long as both teams are in the same city, yes.

Thanks. Makes sense that way.

 

[meatwad1]

How does this play out in terms of fantasy football?

? Buffalo will still be a not so sought after spot for NFL free agents (unless they drive a dump truck full of money to the bargaining table like they did with Mario Williams).

Sorry, but that is not how it works. Players go where money is available. Using your logic, everybody would be clamoring to play for the Giants, the Jets, the Dolphins, or other 'nice' cities. Who is the last awesome player the Giants or Jets have signed off another team?

A prime example of this is Detroit, the biggest sh^thole on the continental U.S. They seem to have great success in adding talent.

 

[Kool-Aid Larry]

thank god we kept the bills in our division

 

[GroveDiesel]

It's time to stop taking the valuations of Forbes seriously. They last valued the Bills at something like $850M.

The Pegulas are buying them for a record $1.4B.

 

[Aaron Rudnicki]

It's time to stop taking the valuations of Forbes seriously. They last valued the Bills at something like $850M.

The Pegulas are buying them for a record $1.4B.

where are you seeing that?

Buffalo News says it's $1.1B

http://www.buffalonews.com/sports/bills-nfl/bills-confirm-agreement-reached-with-pegulas-to-buy-franchise-20140909

The purchase price is believed to be in the neighborhood of $1.1 billion.

 

[Bills_Fan11]

It's time to stop taking the valuations of Forbes seriously. They last valued the Bills at something like $850M.

The Pegulas are buying them for a record $1.4B.

Malcolm Gladwell wrote a good piece on that a couple years back. It's not that Forbes is way off as much as rich people are just always willing to spend for one of 32 things in the world.

 

[Bills_Fan11]

? Buffalo will still be a not so sought after spot for NFL free agents (unless they drive a dump truck full of money to the bargaining table like they did with Mario Williams).

Because FA's are why good teams are good?

Sure has helped Denver out.

Sure. Something to keep in mind next time a GOAT 36yr old QB becomes available after three neck surgeries and continues to play at a HoF level years later.

 

[ratdog]

When you build a winning team other players will want to play for that team.

It happened in Buffalo in the late 80's

They haven't had many winning seasons since so it has been harder to get talent.

The Raiders have a hard time getting talent for this very reason and it Oakland is considered a fine place to live.

 

[GroveDiesel]

It's time to stop taking the valuations of Forbes seriously. They last valued the Bills at something like $850M.

The Pegulas are buying them for a record $1.4B.

where are you seeing that?Buffalo News says it's $1.1B

http://www.buffalonews.com/sports/bills-nfl/bills-confirm-agreement-reached-with-pegulas-to-buy-franchise-20140909

The purchase price is believed to be in the neighborhood of $1.1 billion.

http://www.buffalorumblings.com/buffalo-bills-news/2014/9/9/6128207/buffalo-bills-sale-price-1-4-billion-kim-terry-pegula

 

[ratdog]

Buffalo Radio WGR 550 is reporting 1.4 Billion

 

[Aaron Rudnicki]

http://www.buffalorumblings.com/buffalo-bills-news/2014/9/9/6128207/buffalo-bills-sale-price-1-4-billion-kim-terry-pegula

cool

pretty impressive that Terry Pegula was willing to do that, but it's hard to read much into it after what happened with the Clippers sale.

franchises are worth as much as someone is willing to pay, so it's tough for Forbes to really put a number on that.

 

[Steve Tasker]

I have to wonder if the state committed some significant $$ for a new stadium, enabling Pegula to up his bid a bit knowing that he won't pay out-of-pocket for a new stadium in a few years.

Harbor Center is looking great. Imagine if they could build a stadium right on the outer harbor. Have the Sabres and Bills playing a stone's throw from each other, right in downtown and right on the waterfront.

 

[Aaron Rudnicki]

I have to wonder if the state committed some significant $$ for a new stadium, enabling Pegula to up his bid a bit knowing that he won't pay out-of-pocket for a new stadium in a few years.

Harbor Center is looking great. Imagine if they could build a stadium right on the outer harbor. Have the Sabres and Bills playing a stone's throw from each other, right in downtown and right on the waterfront.

I really think that's the end game here. Would be great for downtown, and closer to fans in Canada and Rochester/Syracuse than Orchard Park is. Tailgating would likely suffer a bit but the pros outweigh the cons. Could have lots of bars and businesses in the area make money I guess.

 

[BobbyLayne]

I have to wonder if the state committed some significant $$ for a new stadium, enabling Pegula to up his bid a bit knowing that he won't pay out-of-pocket for a new stadium in a few years.

Harbor Center is looking great. Imagine if they could build a stadium right on the outer harbor. Have the Sabres and Bills playing a stone's throw from each other, right in downtown and right on the waterfront.

Doesn't seem likely. Albany doesn't offer that kind of corporate welfare, do they? Citifield, Yankee Stadium and MetLife were all privately funded. NYC kicked in infrastructure improvements but there was no state funding.

 

[OC Zed]

I have to wonder if the state committed some significant $$ for a new stadium, enabling Pegula to up his bid a bit knowing that he won't pay out-of-pocket for a new stadium in a few years.

Harbor Center is looking great. Imagine if they could build a stadium right on the outer harbor. Have the Sabres and Bills playing a stone's throw from each other, right in downtown and right on the waterfront.

I really think that's the end game here. Would be great for downtown, and closer to fans in Canada and Rochester/Syracuse than Orchard Park is. Tailgating would likely suffer a bit but the pros outweigh the cons. Could have lots of bars and businesses in the area make money I guess.

Given the drunken buffoonery Bills fans are known for, less tailgaiting would be an obvious positive.

 

[Steve Tasker]

I have to wonder if the state committed some significant $$ for a new stadium, enabling Pegula to up his bid a bit knowing that he won't pay out-of-pocket for a new stadium in a few years.

Harbor Center is looking great. Imagine if they could build a stadium right on the outer harbor. Have the Sabres and Bills playing a stone's throw from each other, right in downtown and right on the waterfront.

Doesn't seem likely. Albany doesn't offer that kind of corporate welfare, do they? Citifield, Yankee Stadium and MetLife were all privately funded. NYC kicked in infrastructure improvements but there was no state funding.

I wouldn't be so sure. Schumer, Cuomo, and Robert Duffy have all been talking a BIG game about doing whatever it takes to keep the team here. I don't know specifically what that means, but it wouldn't surprise me to see a lot of state money used on a new stadium. Maybe not in direct payment form, but in the form of reduced property taxes, stuff like that. Erie County is really the main player in the stadium game.....Buffalo and Erie County do receive a ton of downstate tax money.

 

[Steve Tasker]

I have to wonder if the state committed some significant $$ for a new stadium, enabling Pegula to up his bid a bit knowing that he won't pay out-of-pocket for a new stadium in a few years.

Harbor Center is looking great. Imagine if they could build a stadium right on the outer harbor. Have the Sabres and Bills playing a stone's throw from each other, right in downtown and right on the waterfront.

I really think that's the end game here. Would be great for downtown, and closer to fans in Canada and Rochester/Syracuse than Orchard Park is. Tailgating would likely suffer a bit but the pros outweigh the cons. Could have lots of bars and businesses in the area make money I guess.

And if that's the endgame, then Pegula is definitely the guy to buy the team. He's got a vested interest in that entire area, both sentimentally with his love of the Sabres and financially with his properties. We've been complaining for years about how the waterfront is so dilapidated, and this could maybe be the shot in the arm that it needs.

I always roll my eyes when I hear overzealous people clamoring about "Buffalo is coming back!!", but it certainly does seem like things are looking up here.

 

[Aaron Rudnicki]

Look at the other teams in the Great Lakes area. Seems like all have downtown waterfront stadiums except for Buffalo.

 

[comfortably numb]

Cliff notes reason as to why this is great news?

 

[SeniorVBDStudent]

Good news.

The Bills BELONG in Buffalo.

 

[Aaron Rudnicki]

Cliff notes reason as to why this is great news?

It means the Bills will stay in Buffalo for the foreseeable future and they have an owner with deep pockets who will be willing to spend money to build a better team and help improve the city as well.

 

[smapdi]

Fantastic day to be a Bills fan. A lot of you larger market fans may not understand the type of fear that gripped this fan base over the past decade with the impending death of Ralph & possibility of this team being moved. It was a very real scenario & would've completely destroyed my love of football. Buffalo has some of the best fans and to have the team stolen would've been a back to the entire region. There were literally grown men crying tears of joy on local sports radio this afternoon.

The Bills are an institution in WNY. When this was announced, cars were honking to the tune of "Let's go Buffalo" with pedestrians singing along. The Ralph is going to be absolute bedlam on Sunday with it being the home opener & it being a phins game. I'm about to pony up $300 to grab tickets for me and my buddy to attend. The Dolphins have no idea what they are walking into Sunday.

Pagula could be elected mayor of Buffalo at this point. He has a 3.3 billion net worth & just sold some land/oil wells for 1.75 billion a month ago or so. Money is no issue for this guy. His daughter absolutely loves Buffalo sports so it's almost certain she will take over way doen the road... the Bills are going nowhere!

Go Bills!!!

 

[GroveDiesel]

WTF? ESPN doesn't even have a mention of it on the front page of their site. No problem reporting the rumors of front office fighting last week but a record NFL sale and a huge development for a team and region and merits no front page mention or link. So pathetic.

 

[humpback]

WTF? ESPN doesn't even have a mention of it on the front page of their site. No problem reporting the rumors of front office fighting last week but a record NFL sale and a huge development for a team and region and merits no front page mention or link. So pathetic.

Take a deep breath, lol. It's there right now, and I know it was their earlier today as well.

 

[Dippa]

I'm happy for you guys. Congrats

 

[Premier]

Great news. Teams with fan bases like this should never ever move.

 

[jurrassic]

Congrats to the Bills fans. Good tradition, dedicated fans. Glad to see you guys didn't get your franchise poached by another city. Could be a karmic season.