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.
I can confirm that Buffalo Sabres owner Terry Pegula submitted the non-binding bid and notice of intent today for the Buffalo Bills.
— Tim Graham (@ByTimGraham) July 29, 2014
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.
Jul 28, 2015, 10:30 PM EDT
Jul 28, 2015, 9:38 PM EDT
Potentially a move to Switzerland, or the Czech League.
Jul 28, 2015, 8:39 PM EDT
Returning him to Rochester for a third time.
Jul 28, 2015, 7:39 PM EDT
Washington d-man is expected to miss the next two weeks of offseason training.
Jul 28, 2015, 6:26 PM EDT
Swiss winger came over from Calgary at last year’s deadline.
Jul 28, 2015, 4:39 PM EDT
Nice payday after posting a career-high in goals this season.
Jul 28, 2015, 4:23 PM EDT
“When you look at the structure of our salaries and our cap, it’s important to get those bottom-six cap hits in better shape.”
Jul 28, 2015, 3:21 PM EDT
With the Nurnberg Ice Tigers.
Jul 28, 2015, 2:30 PM EDT
Winning bid to be decided by the end of the year.
Jul 28, 2015, 1:45 PM EDT
“When the games mean something, that’s when he’s at his best.”
Jul 28, 2015, 1:21 PM EDT
The Blue Jackets have done well. The Canucks have not.
Jul 28, 2015, 12:34 PM EDT
Probably looking at another year of junior hockey.
Jul 28, 2015, 11:56 AM EDT
Busy day for Pittsburgh.
Jul 28, 2015, 11:40 AM EDT
Jul 28, 2015, 10:40 AM EDT
Could be a top-six winger. Could be a third-line center.
Jul 28, 2015, 10:08 AM EDT
Arbitration hearing scheduled for Thursday.
Jul 28, 2015, 9:00 AM EDT
25-year-old didn’t file for arbitration, hoping instead to sign a long-term contract.
Jul 28, 2015, 8:00 AM EDT
In the form of a cool $100,000.
Jul 27, 2015, 9:29 PM EDT
But are any teams mulling his return?
Jul 27, 2015, 8:21 PM EDT
Where he’ll work as a community liaison.
- Flyers re-sign Couturier: six years, $26 million 22
- Benning calls Sutter a ‘foundation piece’ for Canucks 21
- Here’s a chart that shows which teams have been good/bad at drafting 33
- Penguins sign Fehr to three-year, $6 million contract 20
- Trade: Penguins send Sutter to Canucks for Bonino, Clendening 53
- NBC Sports to broadcast 105 NHL games in 2015-16 58
- Wilson signs with Preds, leaving just four arbitration cases to go 5
- Rangers sign Stepan — six years, $39 million 62
- Deal with the Devils: New Jersey re-signs Larsson to six-year contract 14
- Stepan seeks $7.25M in arbitration, Rangers counter at $5.2M 24
- Post expansion, could NHL realign with eight divisions? (138)
- He’s baaaaaack: Leafs pull a stunner, hire Lamoriello as GM (Updated) (84)
- Bettman says NHL would have to ‘consider’ putting Quebec City in the Western Conference (67)
- Rangers sign Stepan — six years, $39 million (62)
- NBC Sports to broadcast 105 NHL games in 2015-16 (58)