Is Galisano Freeing up capital to Buy the Bills??

[mrbojanglezs]

Is galisano getting ready to buy the bills? He has stated that he wanted to be involved in bills ownership....

Looks like the sabres are being purchased

Terry Pegula signs letter of intent to buy Buffalo Sabres for $150 million

that would give him some nice capital to use for a portion, he bought the sabres for like 20 million didn't he?

http://www.thehockeynews.com/article...0-million.html

THN.com has learned that billionaire Terry Pegula has signed a letter of intent to buy the Buffalo Sabres from Tom Golisano for about $150 million.

Pegula is the founder and CEO of East Resources, one of the largest privately held companies in the United States. A graduate of Penn State University, he and his wife, Kim, recently donated $88 million to the school to help fund a new arena and establish a Division I hockey program.

More to follow.

[ddaryl]

Re: Is Galisano Freeing up capital to Buy the Bills??

that would suck royally. The guy is Ralph Wilson Jr. Jr.

[justasportsfan]

Re: Is Galisano Freeing up capital to Buy the Bills??

that would suck royally. The guy is Ralph Wilson Jr. Jr.

Ralph is a better owner than Golisano.

[trapezeus]

Re: Is Galisano Freeing up capital to Buy the Bills??

That'll be fun when TommyG fires Buddy Nix and replaces him with Darcy, Larry and Mo.

If tom is putting money to be part of a group, i'm fine with that, but aside from that, he was just a very average sabres owner. Stuck with his guys because he didn't know anyone else. It was more frustrating at times than watching ralph stick it out with Dick and Brandon as coach and GM.

[Ebenezer]

Re: Is Galisano Freeing up capital to Buy the Bills??

I doubt that TG is going to buy the Bills. The guy is the type to make big money fast. He can't do that by going into huge debt to buy the Bills.

[RockStar36]

Re: Is Galisano Freeing up capital to Buy the Bills??

For those who don't follow the Sabres closely - you should hope not. I'm all for it if he's investing money to keep them in Buffalo, but as the sole owner, I don't think it would be good if you want success for the team. There is a reason Sabres fans are super excited right now if they get sold.

[Ebenezer]

Re: Is Galisano Freeing up capital to Buy the Bills??

For those who don't follow the Sabres closely - you should hope not. I'm all for it if he's investing money to keep them in Buffalo, but as the sole owner, I don't think it would be good if you want success for the team. There is a reason Sabres fans are super excited right now if they get sold.

And there is no way that he'd be the sole owner of the Bills. He would be part of a conglomerate. That being said, I don't think it will happen.

[T-Long]

Re: Is Galisano Freeing up capital to Buy the Bills??

well if he is a part of Kelly's group, then he is in agreement to keep the team in Buffalo.

[k-oneputt]

Re: Is Galisano Freeing up capital to Buy the Bills??

Could very well be part of a group.

[Jan Reimers]

Re: Is Galisano Freeing up capital to Buy the Bills??

Bills' implications aside, it's probably a good thing for the Sabres. I can't imagine Pegula being a worse owner than Golisano.

[trapezeus]

Re: Is Galisano Freeing up capital to Buy the Bills??

golly as a part of the ownership would be fine. because his $200MM investment would probably generate good returns from ticket sales, merchandise and TV revenue. And he wouldn't need to take on debt to make his contribution. So if he's earning like a 5-15% return per year on that investmetn, it's good for him and he doesn't need to be the "thinking part" of the group.

Golly becomes a bad owner if he's the sole owner, because then he doesn't know enough people and only trusts his circle. and if his small circle isn't that bright football wise, the team would suffer.

[Jan Reimers]

Re: Is Galisano Freeing up capital to Buy the Bills??

golly as a part of the ownership would be fine. because his $200MM investment would probably generate good returns from ticket sales, merchandise and TV revenue. And he wouldn't need to take on debt to make his contribution. So if he's earning like a 5-15% return per year on that investmetn, it's good for him and he doesn't need to be the "thinking part" of the group.

Golly becomes a bad owner if he's the sole owner, because then he doesn't know enough people and only trusts his circle. and if his small circle isn't that bright football wise, the team would suffer.

Good points, trap, but I think his ego is too big to let him be just part of a group.

[Dujek]

Re: Is Galisano Freeing up capital to Buy the Bills??

Listening to WGR 550 the Sabres have denied that a letter of intent has been signed.

[trapezeus]

Re: Is Galisano Freeing up capital to Buy the Bills??

i haven't really heard of the stories of Golly as a man. i wouldn't doubt that he's an ego maniac. FEw people who get to that level are humble, decent people. they'd kill their own mother to make a buck.

Part of me thinks, he's happy to live in florida, and be a part time NFL owner. HE knows how rabid sabres fans got on him for not being at the games, not being proactive in cutting dead weight, etc.

He's no spring chicken, and the NFL is even more intense. there are a lot of contracts you have to eat if you get it wrong. You can't keep floating darcy out there for 12 years of mediocrity in the NFL without having the entire NFL walk away from you in free agency. I feel like his 100% ownership of the sabres may have opened his eyes as to how difficult sports team ownership is.

And god knows there are enough dan synders, jerry jones littered about showing you that you can't just pretend your a football guy.

[JD]

Re: Is Galisano Freeing up capital to Buy the Bills??

I think Golisano, if anything, would just be a member of Jim Kelly's purchasing team.