Skip to content

Report: Sabres owner Pegula makes bid for NFL’s Bills

Jul 29, 2014, 9:02 PM EDT

Tuesday afternoon was the deadline for prospective buyers to submit their “indication of interest” for the NFL’s Buffalo Bills and, according to the Buffalo News, Sabres owner Terry Pegula officially threw his hat into the ring.

Pegula, who made his fortune in the natural gas industry, purchased the Sabres in February 2011 and was immediately lauded for his spend-happy ways. Buffalo made huge splashes in his first free agent period as owner, inking Christian Ehrhoff and Ville Leino for a combined $67 million (Pegula would later sign off on compliance buyouts for both players.)

The 63-year-old’s foray into the sporting world wasn’t limited to just the NHL, however. A Penn State alumnus, Pegula donated $100 million to construct an on-campus facility — the Pegula Ice Arena — which opened in 2013 and currently houses the Nittany Lions’ hockey team.

As for Pegula’s interest in the Bills, here’s how the remainder of the process will play out, per USA Today:

The Bills’ trust will analyze the field and select a certain number of those initial bids. Those groups, or bidders, will then be able to gain access to more information about the team and move forward in the process.

Sports business expert and analyst Marc Ganis of the Chicago-based firm, Sportscorp, says this is a process which allows for the Bills to gain more access to the bidders’ financials as well. He says at the end of the day, the Trust will make their decision based on who is the “best top bid”.

“You will typically whittle the groups down to those that you think are the most serious, have the greatest ability and are going to pay the highest the highest price. And that last is really important.”

The Bills fanchise is for sale following the death in March of owner Ralph Wilson. It’s believed real estate mogul Donald Trump and musician Jon Bon Jovi have spearheaded groups that also put forth bids.

Latest Posts
  1. Kings sign McBain to one-year extension

    Jul 4, 2015, 9:09 AM EDT

    Jamie McBain Getty Images

    What role he has could depend on the Kings and league’s decision regarding Slava Voynov.

  2. Blues re-sign Jaskin to one-year contract

    Jul 3, 2015, 11:00 PM EDT

    Getty Images

    Scored 13 goals in 54 games last season.

  3. Sabres sign veteran d-man Colaiacovo

    Jul 3, 2015, 7:44 PM EDT

    Getty Images

    Buffalo also signed Cal O’Reilly, who played last season with the AHL Utica Comets.

  4. Brandon Saad brings championship experience to Blue Jackets

    Jul 3, 2015, 6:43 PM EDT

    AP

    He signed a six-year, $36 million deal with Columbus.

  5. Sharks sign Joel Ward to three-year deal

    Jul 3, 2015, 5:44 PM EDT

    Getty Images

    “Joel is a quality veteran player who can score but also plays an extremely hard-nosed brand of hockey.”

  6. ‘Canes hire ex-Florida assistant Morris for AHL gig

    Jul 3, 2015, 4:00 PM EDT

    Brings a wealth of success, experience at AHL, collegiate levels.

  7. Locked in: Columbus signs Saad to six-year, $36M deal

    Jul 3, 2015, 2:50 PM EDT

    150611_Saad Getty Images

    “This long-term commitment that assures he will be an important part of our team for years to come.”

  8. Larkin, Mantha in tough to make Red Wings roster, says Holland

    Jul 3, 2015, 2:37 PM EDT

    AnthonyMantha

    “They gotta come in and knock somebody out of the box.”

  9. Flyers sign Colin McDonald

    Jul 3, 2015, 2:12 PM EDT

    New York Islanders v New Jersey Devils Getty Images

    A one-year, two-way deal for the ex-Islander.

  10. Jets re-sign Maurice’s coaching staff

    Jul 3, 2015, 1:00 PM EDT

    Winnipeg Jets v Colorado Avalanche Getty Images

    Charlie Huddy, Pascal Vincent and Wade Flaherty all inked three-year extensions.

  11. Blues re-sign Allen for two years

    Jul 3, 2015, 12:46 PM EDT

    Jake Allen AP

    Expected to battle Brian Elliott for the starting role in St. Louis.

  12. Oilers sign McDavid to entry-level contract

    Jul 3, 2015, 12:23 PM EDT

    Connor McDavid AP

    “It’s an exciting time to be a part of this organization.”

  13. Quick hits: Caps give Bourque two-year, two-way deal

    Jul 3, 2015, 11:32 AM EDT

    Nashville Predators v Washington Capitals Getty Images

    Bobby Sanguinetti to Buffalo; Sharks grab Mark Cundari.

  14. Philly hires goalie coach Dillabaugh, formerly of Los Angeles

    Jul 3, 2015, 11:30 AM EDT

    Steve Mason AP

    Where he “contributed to the development of Jonathan Quick, Jonathan Bernier and Martin Jones.”

Top 10 NHL Player Searches
  1. M. Richards (2594)
  2. P. Kessel (2135)
  3. Z. Kassian (2100)
  4. B. Saad (1888)
  5. S. Voynov (1847)
  1. A. Sekera (1752)
  2. R. O'Reilly (1723)
  3. D. Hamilton (1676)
  4. B. Richards (1657)
  5. S. Gagner (1617)