State of the Bills: With bids due this month, Terry Pegula frontrunner
Get to know Sabres owner Terry Pegula, because there's a strong chance he's the next owner of the Buffalo Bills.
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Buffalo Sabres owners Terry Pegula remains far and away the leading contender to land the Bills, with formal, binding bids due in mid-September and the vote on a new owner on pace for the October owner’s meeting, numerous league sources said.
Pegula is viewed as the most viable option. He has made his intent clear, and sources said he’s poised to handle the $1.1 billion to $1.4 billion expected price tag for the franchise.
Pegula has strong public support, given his commitment to keeping the team in Western New York, and his finances are above reproach and at a time when many other suitors are falling by the way side, he is prepared to make a strong bid for the team. Of the known candidates -- and there is a possibility that bidders could emerge who have not been identified to this point -- Pegula’s well poised to emerge, and even if the NFL finds a party to enter the equation late and push the sale price further above the $1 billion range, forcing an auction scenario of some sort, Pegula has expressed a willingness to confidants to do whatever he has to do to get the team, sources said.
Regardless of the owner, the Bills, per their lease, are bound to Buffalo until 2020, though it remains to be seen if a viable new stadium deal can be struck in the region. The Toronto-based bid formerly led by Jon Bon Jovi, and first identified by CBSSports.com almost a year ago, has had myriad issues getting to the finish line, and it’s no secret that the group (Rogers Communications/Maple Leaf Sports and Entertainment) would be eying a move to Ontario at some point. Ultimately, the Toronto metropolitan area might end up making better fiscal sense for the franchise, and therefore for the league, but there are numerous options to exhaust in New York before reaching that point.
Once binding bids are in, the trust of late owner Ralph Wilson will determine a winner, and then the owners must vote on that candidate. There is every reason to anticipate that vote taking place during the annual fall meeting, which will take place October 7-8 in New York this year.
The Bills have had a tumultuous offseason, punctuated by several episodes between coach Doug Marrone and the front office, including some that have been heard and witnessed by players. The fissures between the personnel department and coaching staff are well known around the league and have included division over how to handle the quarterback position, as EJ Manuel has struggled and the team eventually signed veteran Kyle Orton as a possible replacement.
