Punch Posted September 9, 2014 Share Posted September 9, 2014 @Fred22Jackson: I wanna take the time to thank Mr and Mrs Wilson for everything they have done for my family and me. Link to comment Share on other sites More sharing options...
DC Tom Posted September 9, 2014 Share Posted September 9, 2014 I need to find somebody to slap the grin off my face. I'd volunteer...but I still can't get the silly grin off my face from Jackson's run yesterday. Link to comment Share on other sites More sharing options...
Fires Posted September 9, 2014 Share Posted September 9, 2014 I'm so excited about this. This is a Great day to be a Bills fan..... To know the Bills will be in Buffalo the rest of my life and not LA or Toronto is a good feeling. Link to comment Share on other sites More sharing options...
The Dean Posted September 9, 2014 Share Posted September 9, 2014 (edited) I don't have any info on this, but I will just put a possibility out there from stuff I have heard in different spots. Maybe the disparity between the 1.2b reports and the 1.4b reports, are this: El Petulante paid $1.2b for the team. Part of the bid and agreement and why he was the easy frontrunner, was his stadium plan. He is personally throwing in an additional 200m for the building of a stadium downtown. Jacobs and maybe Golisano are putting in some skin (I think Jacobs is going to do this) and throwing in another 200m as local billionaires wanting to help with the team. That's 400m of a proposed 800m stadium paid with private funds, which I have heard several rumors from different sources for. That puts pressure on Cuomo and Erie County to pay publicly for the other half. So when the report is 1.2 and 1.4, that is the disparity. Just a possibility. Expect to see a stadium plan soon regardless. Very possible. Another reason for the differing reports may have to do the reported sale price vs "true enterprise equity". While I doubt the Forbes mook, Ozanian, has any inside info, I suspect he knows a bit of something about how the financing might impact the reported price. As I have absolutely zero knowledge of high finance, I'm just asking the question here. Could a small portion of the sale price be financed at a zero/low interest rate, thereby impacting the true equity rate? I mean I'm sure Pegs could pay it all in cash, but if he could catch a break for a portion of the financing, why not? OOps forgot the link: http://www.forbes.com/sites/mikeozanian/2014/09/09/terry-pegula-to-buy-buffalo-bills-for-1-1-billion-sources/ When it came to reporting the sale, this guy was always a week late and half a billion short/ Edited September 9, 2014 by The Dean Link to comment Share on other sites More sharing options...
Doc Posted September 9, 2014 Share Posted September 9, 2014 FWIW, there are rumors out there that his net worth is upwards of $6B because of the way that his land has appreciated. That's a conversation for another day but he is anywhere from about 2-5 in terms of wealthiest NFL owners. I'm figuring he'll be 2nd by the time all is said and done. Link to comment Share on other sites More sharing options...
Punch Posted September 9, 2014 Share Posted September 9, 2014 @Fred22Jackson: I also want to welcome Mr and Mrs Pegula as our new owners. I am extremely excited to play for you in BUFFALO!!! Link to comment Share on other sites More sharing options...
Kelly the Dog Posted September 9, 2014 Share Posted September 9, 2014 Great summary but I would say his net worth did not increase with the sale of the land rights as they were part of the 3.5 billion. The sale did however make him more liquid on his assets and allow him to drop on one big mofo bag of pennies on Goodells desk! A great day for WNY! I have heard different reports, but i don't think that's true. The sale this year was completely different land from his original sale. I doubt that Forbes knew or included that in his 3.3b they counted. He sold the PA, NY and Rocky Mountain land for 4.7b in cash. He then sold OH and WV land for (most of) the 1.75b this year. There are also things I have heard recently that he still holds a ton of land, keeps buying up more, and was worth way more than the 3.3b reported, maybe double that. Link to comment Share on other sites More sharing options...
TXBILLSFAN Posted September 9, 2014 Share Posted September 9, 2014 Good summary and post, with a couple minor corrections. He bought the sports agency, the France AllPro Athlete Management Company, which was already established. http://espn.go.com/nhl/story/_/id/7325044/buffalo-sabres-owner-terry-pegula-buys-nfl-player-agent-company. And he had to share a portion of the $1.75b sale with a partner. I think, but not sure, he made perhaps 1.25b before taxes. Still a nice little chunk of change, and close to what he bought the team for. And, the land sale was simply converting from one asset (LAND) to another (CASH), so there should be no impact on that sale to his net worth. Unless, of course, the original net worth under valued that land. Link to comment Share on other sites More sharing options...
Kelly the Dog Posted September 9, 2014 Share Posted September 9, 2014 And, the land sale was simply converting from one asset (LAND) to another (CASH), so there should be no impact on that sale to his net worth. Unless, of course, the original net worth under valued that land. They may not have even included that land in his net worth. A lot of Forbes numbers are educated guesses, and somewhat dated numbers. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted September 9, 2014 Share Posted September 9, 2014 I'd volunteer...but I still can't get the silly grin off my face from Jackson's run yesterday. Jackson could help you both. Just ask Conte. Link to comment Share on other sites More sharing options...
The Dean Posted September 9, 2014 Share Posted September 9, 2014 They may not have even included that land in his net worth. A lot of Forbes numbers are educated guesses, and somewhat dated numbers. The way Forbes numbers get tossed around, you'd think they were registered and verified to be accurate. The're estimates. Sometimes really good,. Other times, not so much. Link to comment Share on other sites More sharing options...
Fixxxer Posted September 9, 2014 Share Posted September 9, 2014 Thanks Ralph Wilson for giving us the Bills and for making it sure they stay where they belong. Thanks Kim and Terry Pegula for making the huge commitment of keeping Ralph's legacy alive. And congratulations to all of us that deserved this excellent piece of news, cheers Bills brotherhood. Link to comment Share on other sites More sharing options...
Jamie Nails Posted September 9, 2014 Share Posted September 9, 2014 Can we change the headline!? It's not according to anything, anymore. It's official---pending Robert Kraft and Jerry Jones' approval. Link to comment Share on other sites More sharing options...
Kirby Jackson Posted September 9, 2014 Share Posted September 9, 2014 Can we change the headline!? It's not according to anything, anymore. It's official---pending Robert Kraft and Jerry Jones' approval. This will be about the quickest approval in history. "Who objects to this guy with billions in cash, political clout and a great reputation in that community?" Link to comment Share on other sites More sharing options...
HalftimeAdjustment Posted September 9, 2014 Share Posted September 9, 2014 This will be about the quickest approval in history. "Who objects to this guy with billions in cash, political clout and a great reputation in that community?" "Who owns another professional sports team, and keeps a generally low profile just like (most of) us?" Link to comment Share on other sites More sharing options...
BillnutinHouston Posted September 9, 2014 Share Posted September 9, 2014 @Fred22Jackson: I wanna take the time to thank Mr and Mrs Wilson for everything they have done for my family and me. Very classy and mature of Fred, on a day like today, to look back and thank your and your family's benefactor. Link to comment Share on other sites More sharing options...
prissythecat Posted September 9, 2014 Share Posted September 9, 2014 Is anyone actually doubting Terry's commitment to spending cash or winning? Maybe some here don't follow the Sabres. I do! Let me assure you, he will throw cash around like a maniac and he is going to want to win. Make no mistake. Hopefully the expenditures will be wise (I think they will be) and remember one thing: Terry's money and spending can help in all kinds of ways that transcend mere player salary and salary cap issues. He can spend huge sums on top coaching, infrastructure, consultants, double the size of the current scouting staff, etc. etc. etc. Can you explain how all this magical spending outside of players truly helps ? The Sabres have been bottom feeders the past two seasons despite the awesome spend that you cite . Green Bay has public ownership and is not backed by seemingly endless wealth . We don't see fancy spending from them on gleaming facilities or expensive trainers. Yet year and and year out they are contenders. It's not about spending the most money. It's about being lucky in getting a critical mass of players who have talent and coaches who can harness. Link to comment Share on other sites More sharing options...
Green Lightning Posted September 9, 2014 Share Posted September 9, 2014 (edited) This just made my freaking day that much the better! Thanks!!!! Edited September 9, 2014 by Green Lightning Link to comment Share on other sites More sharing options...
Mike in Horseheads Posted September 9, 2014 Share Posted September 9, 2014 Can you explain how all this magical spending outside of players truly helps ? The Sabres have been bottom feeders the past two seasons despite the awesome spend that you cite . Green Bay has public ownership and is not backed by seemingly endless wealth . We don't see fancy spending from them on gleaming facilities or expensive trainers. Yet year and and year out they are contenders. It's not about spending the most money. It's about being lucky in getting a critical mass of players who have talent and coaches who can harness. Egos is what all the frilly stuff is about and a owner can make a difference by making the egos happy. Link to comment Share on other sites More sharing options...
26CornerBlitz Posted September 9, 2014 Share Posted September 9, 2014 A peek at Wednesday's Toronto Sun sports cover. #BonJovi #Bills #NFL #Toronto http://bit.ly/1rUYJuO Link to comment Share on other sites More sharing options...
Recommended Posts