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]

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

[justasportsfan]

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

Ralph is a better owner than Golisano.

[trapezeus]

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]

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]

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]

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]

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

[k-oneputt]

Could very well be part of a group.

[Jan Reimers]

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

[trapezeus]

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]

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]

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

[trapezeus]

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]

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

[RockStar36]

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

They denied it being signed for $150 million, which is a huge difference.

[don137]

I agree with the posts here that I think TG would be alright if part of Kelly's team but not good if sole owner. However, like stated I really doubt he would become sole owner.
While he was not a great owner he also helped the Sabres rebound from bankruptcy after the mess the Regis family did. Does anyone recall how much Golisano bought the Sabres for? For some reason I recall it was not so much paying for the team but taking on the debt owed by the Sabres.

[dannyek71]

I am switching from Labatts to Genny light in an effort to save enough to buy the team.

Who is with me?

[TacklingDummy]

If Tom Golisano didn't buy the Sabres a few years back where would they be right now?

[Michael82]

I was wondering the same thing...maybe this is to free up money to buy the Bills as part of Jim Kelly's group.....

[THATHURMANATOR]

The guy who is buying the Sabres is worth Double what Galisano is worth.

[Michael82]

The guy who is buying the Sabres is worth Double what Galisano is worth.
Well then why didn't anyone talk about him buying the Bills?

[THATHURMANATOR]

Well then why didn't anyone talk about him buying the Bills?
I don't know.

[Nighthawk]

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

I heard this rumor some time ago and it seems very logical.

[YardRat]

NOOOOOOO !!!!!!

[Michael82]

Interesting....this guy Pegula said in an interview that he loves the game of football and hockey. Maybe he could buy the Bills.... :scratch:

[BertSquirtgum]

hope not, **** golisano

[Nighthawk]

I hope this settles the belief that there is nobody with Buffalo ties that can afford owning sports teams in this town. I've said for years that there is money in Buffalo and money with direct WNY ties, that there should be people out there to keep both franchises in Buffalo. Folks, just because somebody with money doesn't live in WNY, doesn't mean that they don't have connections to the area! This, if true, is a very positive sign for this city and the hopes of all fans in this area.

[Nighthawk]

hope not, **** golisano

Yeah, but what if he is a minority/part owner in the Kelly group? I'm sure I'd be OK with that...as long as he is not the guy making the decisions.

[BertSquirtgum]

Well then why didn't anyone talk about him buying the Bills?

maybe they have?

[Michael82]

maybe they have?
Maybe Terry Pegula is the secret head of Jim Kelly's group? They are both from Pennsylvania.... :idunno:

[HHURRICANE]

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


Honestly if he keeps the team in Buffalo you should jump for joy. A sucky Buffalo Bills team is alot better than a Super Bowl LA Bills team.

[BertSquirtgum]

how much is this Pegula guy worth?

[psubills62]

how much is this Pegula guy worth?

Somewhere in the 3-5 billion range, I believe. He recently sold his business for 4.7 billion, though I'm sure taxes, etc. have caused that to decrease.

[Historian]

Just what we need:

Quinn ****ing up two Buffalo franchises.

Pass.