Bills announce agreement for Pegula to buy team

AP

The Bills have announced that Terry Pegula and his family have agreed to buy the team from the estate of the late owner Ralph Wilson.

Both sides have agreed that the deal will be submitted to the other NFL owners to be put to a vote on October 8.

The deal, which is reportedly worth $1.2 billion, will keep the Bills in Buffalo. There had been concerns in Western New York about an investor from outside the area buying the Bills and moving them, but Pegula’s long ties to the area as the owner of the Buffalo Sabres and Buffalo’s HarborCenter mean that this sale is intended to keep the team where it is.

“This is a very important day in the history of the Buffalo Bills franchise,” Ralph Wilson’s widow Mary Wilson said in a statement. “Ralph brought professional football to Buffalo in 1959 and it was his life’s passion. He loved his team and he cherished the fans and his legacy will remain for all-time. Ralph would have been pleased with the sale of the team to the Terry Pegula family, who has been so committed to Buffalo and the Western New York region.”

Pegula, who is in the natural gas and oil business, has an estimated net worth of $3.3 billion.

38 responses to “Bills announce agreement for Pegula to buy team

  1. That’s good news. Congratulations to all of you Bills fans out there! Nobody deserves to have a team torn out from under them.

    Signed,

    Former Seattle Sonics Fan

  2. Terry Pegula got the money to buy the Bills from the sale of land in Ohio and West Virginia for natural gas exploration.

    You can thank fracking for the Bills staying in Buffalo.

  3. FACT!! The Buffalo Bills will be in Buffalo until the day I die!! My son/daughter, my grandkids and future grandkids can now carry on the great Buffalo Bills tradition!! Thank you Terry and Kim!!!!

  4. Frack away !! Screw the environment I won’t be here in 50 years but at least the Bills still will be !
    And everyone in Toronto that wanted them can stick it !! Go watch the Argos play CFL EH !

  5. In an issued statement, Pegula said – “…we will be driven to achieve a singular goal: To win a Super Bowl for our fans.”.

    There will be no more worrying about the bottom line for the Buffalo Bills. There will be no expense spared to bring a championship winning team to Buffalo.
    Ralph Wilson was a great, great owner. But they were never a real big spender as team. That will be much different now. The Buffalo Bills will no longer be a laughing stock of the league.
    This is such a great day to be a Buffalo sports fan!
    The Toronto series is dead! There will be no more “home games” in Toronto (it was postponed for this year anyway, but now it’s dead forever!). I’d like to see Toronto eventually get an extension NFL team, but not our Buffalo Bills! And now that will never be a concern again! The Bills are here to stay FOREVER!! Thank you Terry and Kim Pegula!

  6. Years I have been saying that the Bills are number one candidates to relocate to the superb city of Los Angeles, and even though all the fans in the league told me I was wrong… Look at me now! I’m going to be right once the League rejects this deal and then the NFL buys the team and moves them their self. You see, LA is a superb city and has a better quality of life and better people, you see, it’s a city that can actually appreciate the game of football in luxury box suites.

  7. The good news: The Bills won’t be leaving town!

    The bad news: Pegula has had zero success as a franchise owner. Under Pegula’s guidance, the Sabres finished dead last in the NHL last year.

    Best news: He’s not Jerry Jones.

  8. God bless the Pegula family. Wonderful news. The haters don’t merit the dignity of a mention here. Suffice it to say, PFT was a great source of news throughout this process. One hurdle to go. Let’s hope it’s pro forma.

    Thank you for this last gift (the lease), Mr. Wilson.

  9. I don’t expect people from Buffalo to understand this, but this deal will actually kill the Bills altogether.

    It’s just a matter of time before Toronto gets a team and when that happens, it’s lights out on the armpit of America

  10. ^ really? Undercapitalized owner? You know Terry Pegula bought the team, right? I’m hoping you were being sarcastic…
    The Buffalo Bills will no longer have to worry about any type of budget constraints.

  11. Great, another undercapitalized owner, just like they’ve had for their entire history. They should have picked Trump
    ______

    Undercapitalized? The dude’s 3.3B net worth is before you add in the additional 1.75B he raked in earlier this year. He’s one of the richest owners in the NFL

  12. Great day for Buffalo. Sad, sad, day for Toronto’s joeBon Jovi fan club.

    Trump should have put in a higher bid. Except that he doesn’t really have the money, and this was all another one of his publicity stunts, like the birth certificate thing, or all those times he ran for president, and for governor. Lots of big talk until it’s time to put up, or shut up.

    Terry will write a check for the $1.2 Billion, have $500 million leftover from the sale of the land, and still be worth $3.5 Billion.

    We may be an armpit, but we’re an armpit with a football team.

  13. reconl63 says: Sep 9, 2014 3:55 PM

    Years I have been saying that the Bills are number one candidates to relocate to the superb city of Los Angeles, and even though all the fans in the league told me I was wrong… Look at me now! I’m going to be right once the League rejects this deal and then the NFL buys the team and moves them their self. You see, LA is a superb city and has a better quality of life and better people, you see, it’s a city that can actually appreciate the game of football in luxury box suites.

    Keep trying son, if you tried getting a life as much as you troll you might be a happy person someday but somehow I doubt you are intelligent enough to figure that out lol

    joetoronto says: Sep 9, 2014 5:00 PM

    I don’t expect people from Buffalo to understand this, but this deal will actually kill the Bills altogether.

    It’s just a matter of time before Toronto gets a team and when that happens, it’s lights out on the armpit of America

    see my above reply son!!!

  14. joetoronto says:
    Sep 9, 2014 5:00 PM
    I don’t expect people from Buffalo to understand this, but this deal will actually kill the Bills altogether.

    It’s just a matter of time before Toronto gets a team and when that happens, it’s lights out on the armpit of America
    _________________________________
    You are a fool, and a troll. Toronto is the armpit of Canada, worst sports city around. Enjoy your CFL and Maple Laughs……oh, and just so you know……..Toronto will never, ever get an NFL team.

  15. Joetoronto, not even your ignorant troll comments can bring us down today. Understand one thing, Buffalo won and you lost. Even more importantly, YOU WERE COMPLETELY AND TOTALLY WRONG. Deal with it, this was Toronto’s one and only chance and Buffalo crushed it like a bug. Did you hear that? I was the sound of your feeble little shell getting stepped on by a giant called BUFFALO!!!

    Go Bills, squish the fish!!!!!!

  16. Honestly, the stupid “Bills are going to move” comments don’t bother me in the least. Not anymore anyway…
    There is No Way the Bills will Ever move. Not in my lifetime at least. People making comments saying otherwise obviously know nothing about the Pegulas… And the comment about Peglua not being approved by the NFL owners is just laughable. Not one darn person from LA even attempted a bid on the Buffalo Bills when there actually was a chance to place bids. Now the contest is over and Pegula won, and the NFL owners will approve him without question. Why in the world would there possibly be any chance of them not? I can’t imagine there being a potential owner any more qualified than Pegula to make the NFL owners cut…
    So, keep saying the Bills will be moving. Your words can no longer hurt us! Haha

  17. Why do you all this pegula doesn’t want to make money? You don’t think he will want a new stadium? You think he will spend all of his money on making the team better?

    Rich people stay rich by not spending their money.

    And when he wants a new stadium he will threaten to move the team, it’s the only card the owners can play to the politicians.

    Even if he was mr buffalo, why would he give up his biggest trump card?

  18. As a long time fan, even though I live on the other side of the border, very happy with the news…

    I don’t think we will have to threaten to move the team….that would destroy all the goodwill he’s generated…

    Obviously, he can’t make money only with 8 home football dates, but, if he finds a way with concerts and the like to keep a stadium going, all the revenues (parking, food, drinks etc) are his if he builds the place.

    Besides, if he wants to develop and revitalize the city, bet you that politicians will play ball with him.

    In any case..great day for Buffalo, the team and the fans…
    Congrats…

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