Buffalo Sabres’ Owners Agree to Buy NFL’s Bills

The Buffalo Bills are set to exchange hands after Buffalo Sabres owners Terry and Kim Pegula agreed to be only the second ever owners of the storied NFL franchise.

The estate of longtime Buffalo Bills owner Ralph Wilson, who died earlier this year, reached an deal on Tuesday to sell the NFL franchise to the NHL team owners.

Terry Pegula, 63, a natural gas development and real estate mogul, has been a popular figure in Buffalo for his commitment to keep the franchise in western New York state.

The price tag for the Bills was not revealed although multiple reports suggest the deal is worth $1.4 billion, more than the $1.05 billion truck-stop magnate Jim Haslam paid for the Cleveland Browns in 2012.

“Kim and I are humbled and honored that the Wilson family has chosen us to be the second owner of the Buffalo Bills.  Pending the NFL approval process, being the next owner of the Buffalo Bills would be a great privilege for our family. 

“Ralph Wilson left an indelible mark on our community and we will strive every day to honor his legacy.

“Our interest in owning the Bills has everything to do with the people of Western New York and our passion for football.  We have knowledgeable, dedicated fans here and along with our ownership of the Buffalo Sabres, it is gratifying to reassure these great fans that two franchises so important to our region are both here to stay.”

The team was put up for sale when Wilson, the franchise’s founding owner, died in March at the age of 95.

Among the unsuccessful bidders was singer-songwriter Jon Bon Jovi, who was part of an ownership group from Toronto, where the Bills play some of their home games.

“On behalf of myself, Larry Tanenbaum and Edward Rogers, we wish Terry and Kim Pegula all the best as they continue the legacy and tradition of the Buffalo Bills and the Wilson family,” he said.

“This is a very important day in the history of the Buffalo Bills franchise,” Bills controlling owner Mary Wilson said in a statement.

“Ralph brought professional football to Buffalo in 1959 and it was his life’s passion. He loved his team and he cherished the fans and his legacy will remain for all time.

“Ralph would have been pleased with the sale of the team to the Terry Pegula family, who has been so committed to Buffalo and the Western New York region.”

The NFL could approve the transaction during the owners’ fall meeting on Oct. 8 in New York City.

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