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Multiple Reports : Pegula IS the new owner

FluffHead

By FluffHead
in The Stadium Wall Archives

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Ed_Formerly_of_Roch All Pro

Ed_Formerly_of_Roch

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Unless you know there are a minimum of 8 other no votes so your vote of "No" matters, why would anyone vote "No" All you're doing is making a potential enemy down the road when you might need TP's vote on something else. These owners aren't a bunch of kids voting. They are professionals ( I know JJ is a stretch there) who don't do things for spite and continue to be successful.

 

I wonder if the owners vote will get made public. I bet the d bag Jerry Jones votes no.

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Heels20X6 Veteran

Heels20X6

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You know what the best part of Pegula buying the team? Now, when I watch some of great young talent play well, like Sammy, or Seantrel or others, I'm not watching them going: "I hope we can keep them when they hit Free Agency".

 

I feel like the days of us being a feeder team to the rest of the league are over.

Edited by Heels20X6
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PromoTheRobot Hall of Famer

PromoTheRobot

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You know what the best part of Pegula buying the team? Now, when I watch some of great young talent play well, like Sammy, or Seantrel or others, I'm not watching them going: "I hope we can keep them when they hit Free Agency".

 

I feel like the days of us being a feeder team to the rest of the league are over.

 

I had the same thought watching the game, especially when someone brought up extending Henderson after his second game (lol) in the game thread.

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K-9 Hall of Famer

K-9

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You know what the best part of Pegula buying the team? Now, when I watch some of great young talent play well, like Sammy, or Seantrel or others, I'm not watching them going: "I hope we can keep them when they hit Free Agency".

 

I feel like the days of us being a feeder team to the rest of the league are over.

 

Teams just won't ever be able to keep everybody that plays well for them. It's just the nature of the beast in a fluid, dynamic league. Especially as teams mature and become contenders. Teams just can't keep all their stars in today's era. As much as Pegula's wallet would like to keep them all, we will still lose key players in the future.

 

That said, we will be second to none in being able to spend on top coaches and staffs, scouts, facilities, and everything else that goes into making a first class organization.

 

GO BILLS!!!

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May Day 10 All Pro

May Day 10

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well one thing he learned with the Sabres was the damage letting a guy walk for nothing will do. I know with the NFL the deadline is a lot earlier, and teams will not quite as easily toss draft picks around... but any way that they can maximize assets as opposed to just letting them walk away will be explored

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The Dean Hall of Famer

The Dean

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Golisano is looking more and more like an recluse or eccentric old man -- spending $100K to fight $100K tax bill

 

I was thinking the same thing.

 

That beard is doing him no favors (and I'm an old man with a beard).

 

This looks like precisely what I thought it was when it was announced Golisano would submit a bid. (This isn't an "I told you so thread" because I was simply speculating.) Tom G simply was there in case there was a threat to move the Bills. He said that from the get-go. Good for him. Perhaps he hung around a bit, at least in the mix from speculators, simply to maintain an alternative if Pegula wasn't ready to step up and make this happen. When it was clear Pegula was VERY serious, Tom stepped aside. Much respect for a class move.

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TXBILLSFAN RFA

TXBILLSFAN

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I was thinking the same thing.

 

That beard is doing him no favors (and I'm an old man with a beard).

 

This looks like precisely what I thought it was when it was announced Golisano would submit a bid. (This isn't an "I told you so thread" because I was simply speculating.) Tom G simply was there in case there was a threat to move the Bills. He said that from the get-go. Good for him. Perhaps he hung around a bit, at least in the mix from speculators, simply to maintain an alternative if Pegula wasn't ready to step up and make this happen. When it was clear Pegula was VERY serious, Tom stepped aside. Much respect for a class move.

Agree, I think TG wanted to bow out and the trust told him to "hang in there" for the sake of a competitive process.

 

I still want to know why Pegs ratcheted up his bid to $1.4B, another poster thinks it was Twinkie/Pabst guy, but maybe there is more to it.

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Doc Hall of Famer

Doc

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Agree, I think TG wanted to bow out and the trust told him to "hang in there" for the sake of a competitive process.

 

I still want to know why Pegs ratcheted up his bid to $1.4B, another poster thinks it was Twinkie/Pabst guy, but maybe there is more to it.

It wasn't because of Golisano. I thought, and still think, that it was because of the Twinkie guy. And that Pegs was tipped-off by Morgan Stanley on what to bid to ensure getting the team.

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TXBILLSFAN RFA

TXBILLSFAN

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It wasn't because of Golisano. I thought, and still think, that it was because of the Twinkie guy. And that Pegs was tipped-off by Morgan Stanley on what to bid to ensure getting the team.

Perhaps. Found this link

 

http://nypost.com/20...y-bills-bidder/

 

Not sure I trust the NY Post, but this implies he participated until the end, but did not submit final bid.

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Kelly the Dog Hall of Famer

Kelly the Dog

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Perhaps. Found this link

 

http://nypost.com/20...y-bills-bidder/

 

Not sure I trust the NY Post, but this implies he participated until the end, but did not submit final bid.

So how is that a real threat? The final bids were due Monday by the end of the day I believe. That night is when the trust awarded it to Pegula. I think Morgan Stanley made that all up. They could have been speaking with Twinkie Man, but they were just using him against Pegula with no real threat of him getting the team.

 

All in all, Morgan Stanley did their job. Pegula really didn't seem to care, he just wanted it over with. He could have won it by paying 300 million less though.

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JohnC All Pro

JohnC

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Posted (edited)

So how is that a real threat? The final bids were due Monday by the end of the day I believe. That night is when the trust awarded it to Pegula. I think Morgan Stanley made that all up. They could have been speaking with Twinkie Man, but they were just using him against Pegula with no real threat of him getting the team.

cying 300 million less though.

 

The extra $300 M or so could have been used for a stadium down payment in the not too distant future.

 

Terry Pegula is not the sort of guy who would get hoodwinked in a business deal. I believe that he came in with the mind-set of let's just pay the high price and get this deal done. It's apparent that he was determined to be the new owner. He probably realized that although he was in the most favored position with his bid there still was an outside chance that a "Ballmer" type bid could alter the auction dynamic or the auction could be extended in the hope of inducing additional bidders to enter the competition.. So he just posted an offer that couldn't be refused. When Pegula wants to get a deal done he doesn't quibble. He gets it done!

 

Anyone at this point who doesn't acknowledge Ralph Wilson's business prowess is deluding himself/herself. He entered a Toronto series deal with the Rogers group and up front pocketed $78 M. for a garbage product. And then by getting them interested in the future franchise auction the Wilson estate probably gained in the range of $300 M more from the sale because they were an overshadowing bidder. The end result is the franchise stayed in the region, as he wanted, and his estate gained value.

Edited by JohnC
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BRAWNDO Veteran

BRAWNDO

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Would the NFL and NHL let Pegula own a minor league team in another city?

 

Pegula has been rumored to be the leading candidate to buy the Erie Otters of the Ontario Hockey League

 

He can do that. Only if he gets to keep Connor McDavid as well

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Doc Hall of Famer

Doc

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Where are you getting this info from?

I've heard it from several different people who I trust. But even if it doesn't come to pass in the area or timeframe, I've always wondered about the feasibility of an owner starting/acquiring his own construction company to build a new stadium for him, and whether it would save tons of money. Seems like it would be something worth looking into.

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LabattBlue All Pro

LabattBlue

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Word is that Pegula will build a stadium with a retractable roof downtown within the next 5-7 years. Given the cost of construction, would it make sense for him to start/buy a construction company and have them build it?

I continue to be skeptical that Pegula will use his $$$ to build a stadium that for all practical purposes will be a white elephant outside of 10-20 days a year. There is no way building and owning a stadium will be a money maker here in WNY.

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Kirby Jackson Hall of Famer

Kirby Jackson

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I continue to be skeptical that Pegula will use his $$$ to build a stadium that for all practical purposes will be a white elephant outside of 10-20 days a year. There is no way building and owning a stadium will be a money maker here in WNY.

If I had to venture a guess the stadium will be funded privately and publicly. As it has unfolded a little I would say $550M privately and $300m publicly.
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TXBILLSFAN RFA

TXBILLSFAN

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If I had to venture a guess the stadium will be funded privately and publicly. As it has unfolded a little I would say $550M privately and $300m publicly.

Sounds about right --- the best thing about Pegs being new owner is there is a chance for the collective community to inhale and exhale and take a moment and really debate what the next move regarding a stadium should be and when. I'm confident Pegs will be willing to put his own money into the venture, similar to what other owners have done. In addition, I suspect Delaware North would put in a chunk to secure concessions and another company for naming rights. There are many questions to be answered as part of the discussion such as type of stadium (open air, retractable, closed), whether it's more than just a football stadium (i.e. convention center, other entertainment), location, impact on cost to fans (i.e. PSL's etc). It will surely be a balancing act of several compromises by all parties to make it happen. I predict it will take several years to work out and won't be a quick fix where we see ground breaking in 2015. Edited by TXBILLSFAN
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PromoTheRobot Hall of Famer

PromoTheRobot

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I continue to be skeptical that Pegula will use his $$$ to build a stadium that for all practical purposes will be a white elephant outside of 10-20 days a year. There is no way building and owning a stadium will be a money maker here in WNY.

I think you are wrong about that. Harborcenter is going to make money and he paid for it himself. Imagine a Patriot Place style development around a new stadium with a hotel and convention center...all owned by TP. You think Buffalo isn't an attraction? He's making it one.

 

I do think TP will pay the lion's share for a stadium, I also think Jacobs will chip in as well to secure concessions for the entire development. The state will kick in the land and infrastructure. The NFL stadium fund, stadium naming rights and some PSL revenue will round it out. There will be a new stadium, maybe by year 8 of the lease.

 

Make no mistake, there is more than just buying a sports team going on here. Pegula earned himself a lot of good will from all levels of government. Don't underestimate that.

Edited by PromoTheRobot
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26CornerBlitz Hall of Famer

26CornerBlitz

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@ChrisTrapasso: POWER MOVE CITY. RT @BuffRumblings: The Pegulas are going to buy the #Bills in cash. Because, why not? http://t.co/IRqIaqBZ1A

 

@AdamBenigni

Formal NFL approval on #Bills sale begins tomorrow with finance committee in NYC. No issues expected. Told expect Pegulas to be there.

 

NFL finance committee expected to approve sale to Pegulas. Told it is very likely a wire transfer of $1.4-billion @wgrz

 

Once NFL finance committee approves deal, final NFL owner approval to come at Oct 7th and 8th league meetings. @wgrz

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Augie Hall of Famer

Augie

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People said Walt Disney was nuts for buying a gazillion acres of swamp land in the middle of blistering hot central Florida. That worked out OK. Smart guys see things the others don't. I think it would be an all time act of genius if one guy could rebuild a city and region where generations of politicians did nothing but tear it down.

 

And doing it with your own construction company sounds like the kind of thing a genius just might do. Who knows? What would the profit be on a thing like that? That number has a lot of commas in it. Buy a going concern (for the management team as much as anything) and you could spin it off in a few years if that suited you. He may say it's not his expertise, but he could buy expertise.

Edited by Augie
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PromoTheRobot Hall of Famer

PromoTheRobot

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People said Walt Disney was nuts for buying a gazillion acres of swamp land in the middle of blistering hot central Florida. That worked out OK. Smart guys see things the others don't. I think it would be an all time act of genius if one guy could rebuild a city and region where generations of politicians did nothing but tear it down.

 

And doing it with your own construction company sounds like the kind of thing a genius just might do. Who knows? What would the profit be on a thing like that? That number has a lot of commas in it. But a going concern (for the management team as much as anything) and you could spin it off in a few years if that suited you. He may say it's not his expertise, but he could but expertise.

 

You can look at Buffalo like a fixer-upper house. A lot of people took it for a lost cause. Pegula thinks he can make it nice for a few bucks. But he keeps adding stuff and making it nicer. Pretty soon you have something people want to live in.

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Doc Hall of Famer

Doc

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People said Walt Disney was nuts for buying a gazillion acres of swamp land in the middle of blistering hot central Florida. That worked out OK. Smart guys see things the others don't. I think it would be an all time act of genius if one guy could rebuild a city and region where generations of politicians did nothing but tear it down.

 

And doing it with your own construction company sounds like the kind of thing a genius just might do. Who knows? What would the profit be on a thing like that? That number has a lot of commas in it. Buy a going concern (for the management team as much as anything) and you could spin it off in a few years if that suited you. He may say it's not his expertise, but he could buy expertise.

Yep. He could buy a construction company, have them build the stadium at cost, which would save him tons of money, and then sell the construction company for a premium billing it as the one that built the Buffalo Bills' new stadium.

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Augie Hall of Famer

Augie

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Yep. He could buy a construction company, have them build the stadium at cost, which would save him tons of money, and then sell the construction company for a premium billing it as the one that built the Buffalo Bills' new stadium.

There are just so many advantages to being a billionaire. Advantages I will never know....

They say the first billon is the hardest. I am only about a billion short of breaking through to the next level.

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The Wiz Hall of Famer

The Wiz

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Paying cash is puzzling. With interest rates so low locking in a portion of the purchase price with cheap debt adds to the leverage of his investment. Maybe he is in a hurry to break ground.

 

I'll just throw out random numbers here but say an interest rate of 5% over 10 years, he would be paying an additional 1.4 million. Doubt anyone dropping 1.4b wants any extra cash wasted.

 

Paying cash is puzzling. With interest rates so low locking in a portion of the purchase price with cheap debt adds to the leverage of his investment. Maybe he is in a hurry to break ground.

 

I'll just throw out random numbers here but say an interest rate of 5% over 10 years, he would be paying an additional 1.4 million. Doubt anyone dropping 1.4b wants any extra cash wasted.

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