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Multiple Reports : Pegula IS the new owner

FluffHead

By FluffHead
in The Stadium Wall Archives

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thebandit27 Hall of Famer

thebandit27

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I just haven't stopped smiling all day. This just feels right. Future generations will have the opportunity to share in something that means so much to us and the WNY community. I was raised on Bills football and I look forward to raising my children the same way. What and amazing day!!

 

Plus one Kirby.

 

I'll be watching my little ones dance to the Shout song all night, and thinking about the day the new stadium opens and I give them their first set of season tickets.

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TXBILLSFAN RFA

TXBILLSFAN

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@dkaplanSBJ

Pegula to pay $1.4 billion for the Buffalo Bills, a record high for an NFL team. There were five bidders for the team. More in SBD soon

WOW ! I was hoping for a some kind of "hometown" discount so Pegs could have more money available to keep investing in the city. I guess we all need to really thank Pegula !! He wasn't kidding when he said he was going to be aggressive !!
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K-9 Hall of Famer

K-9

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At $1.4b, I'm guessing nobody else was in the ballpark. I'd bet not even close.

 

If this aggressive style is any indication, we'll have one of the most competitive owners in the league.

 

Go big, or stay home.

 

GO BILLS!!!

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Fadingpain All Pro

Fadingpain

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At $1.4b, I'm guessing nobody else was in the ballpark. I'd bet not even close.

 

If this aggressive style is any indication, we'll have one of the most competitive owners in the league.

 

Go big, or stay home.

 

GO BILLS!!!

 

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.

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negativo RFA

negativo

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I have been periodically choking up all day. Even though all signs pointed to the Pegula deal happening, I've been scarred by Buffalo disappointment for so long that I'm ingrained with the "anything that can go wrong, will go wrong", mentality. Now that it actually went right, I keep tearing up like a little kid.

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Kelly the Dog Hall of Famer

Kelly the Dog

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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.

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TXBILLSFAN RFA

TXBILLSFAN

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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.

Interesting. I thought same thing when I heard $1.1B. I thought, maybe Pegs said I'll bid $1.1B for team and put $200-$300M in stadium fund to keep team in Buffalo. The other teams that sold for those amounts (Clev, Mia), I believe included their stadiums. I know the Cowboys valuation includes Jerry's portion of the stadium.
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Taro T Veteran

Taro T

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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.

That makes sense.

 

And at least we know there is still some sanity on this day as the guy from Forbes continued batting 1.000 w/ his "the sale price was $1.1B." :lol:

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thebandit27 Hall of Famer

thebandit27

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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.

 

I think you are onto something here... B-)

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LOVEMESOMEBILLS Veteran

LOVEMESOMEBILLS

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Wow, thought the workday would never end! The best week I can ever remember being a Bills fan. I've been smiling ALL DAY. To know, for sure, that the Bills are staying for a long, long time. The Bills Community needed, but most importantly DESERVED this. We, as fans, have been through so much. I'm so glad I decided to join this board earlier in the year, what a year to join. Thank you Ralph and Mary, Terry and Kim, and all others involved in keeping the Bills in Buffalo. Today we are king of the mountain. To all my fellow brothers and sisters of Bills Nation congratulations, enjoy it, it's been a long time coming. Now let's go out and F@#&ing SQUISH THE FISH.

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papazoid All Pro

papazoid

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Wow, thought the workday would never end! The best week I can ever remember being a Bills fan. I've been smiling ALL DAY. To know, for sure, that the Bills are staying for a long, long time. The Bills Community needed, but most importantly DESERVED this. We, as fans, have been through so much. I'm so glad I decided to join this board earlier in the year, what a year to join. Thank you Ralph and Mary, Terry and Kim, and all others involved in keeping the Bills in Buffalo. Today we are king of the mountain. To all my fellow brothers and sisters of Bills Nation congratulations, enjoy it, it's been a long time coming. Now let's go out and F@#&ing SQUISH THE FISH.

 

 

 

what he said.

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Kelly the Dog Hall of Famer

Kelly the Dog

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i may be wrong, but I believe that NFL money is in the form of a loan?

Sort of, yes.

 

  • The new loan program — which actually will be called "G-4" — ups the maximum loan level from $150 million per team under the old plan to a maximum of $200 million under the new one. Only projects costing at least $400 million, and with a "private contribution" from the team of at least $200 million, will be eligible for the top loan level
  • As under G-3, teams can repay the loan with club seat money they normally would have had to share with the league. They can now also use incremental regular ticket revenue, defined as the difference between ticket sales in the new stadium and average sales in the last three years of the old one.
  • "The project must not involve any relocation of or change in an affected club's 'home territory.'" That's in keeping with the old G-3 plan's goal of aiding teams in building new stadiums in their existing hometowns (to avoid the kind of city-hopping that gave us the St. Louis Rams and Tennessee Titans). Still, it's worth noting that this means the Minnesota Vikings, for example, can access $200 million in G-4 loans for a new stadium in Minnesota, but not for one in, say, Los Angeles.

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kasper13 Veteran

kasper13

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For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center.

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Kelly the Dog Hall of Famer

Kelly the Dog

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For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center.

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.

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Mike in Horseheads Hall of Famer

Mike in Horseheads

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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/n...-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.

For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center.

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! :thumbsup: A great day for WNY!
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GG Hall of Famer

GG

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For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center.

 

He'll have a few more disposable sheckels when he sells the sports agency.

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Kirby Jackson Hall of Famer

Kirby Jackson

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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! :thumbsup: A great day for WNY!

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.
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