Terry Pegula reaches agreement to buy Buffalo Bills
Terry Pegula, owner of the Buffalo Sabres, has bought the Buffalo Bills for a record $1.4 billion. Outbidding both Donald Trump and a Toronto-based group led by Bon Jovi that was keen on relocating the team the Pegulas have solidified their Buffalo dynasty in steel and rock. When original Bills owner Ralph Wilson died earlier this year Buffalo held its collective breath as to whether the new purchaser would keep the team in what had become one of the smallest market teams in the NFL.
The previous record holder for the most expensive purchase of a team in the NFL went to the 2009 Miami Dolphins for $1.1 billion, which included a stadium. Pegula is also aware that the Bills are going to need a new stadium and with the construction of HarborCenter, a continental hockey mecca, it could be anybody’s guess on what he’ll decide to create for the Bills. Purchasing the Sabres for $189 million and constructing the HarborCenter for $172 million Pegula has now personally invested nearly $2 billion into the city. An anonymous source close to the deal could say one thing: “It’s historic for the city of Buffalo.”
Photograph by Matthew D. Britt