Terry and Kim Pegula reportedly have a tentative deal to purchase the Buffalo Bills, an official announcement should be made today, according to the Buffalo News.
One of Buffalo News sources said it is a done deal. The purchase price is believed to be around $1 billion.
The NFL’s owners must approve the sale, which is expected. Their next scheduled meeting is Oct. 7 and 8 in Manhattan.
Runners-up include billionaire developer Donald Trump and a group fronted by rock star Jon Bon Jovi with financial backing from Maple Leaf Sports and Entertainment Chairman Larry Tanenbaum and Rogers Communications heir Edward Rogers III.
The news should bring cheer and relief to Bills fans, the majority of whom regarded Team Pegula as the strongest ownership candidate and the one most likely to guarantee the Bills a long-term future in Buffalo. The bid also had the backing of Sen. Charles E. Schumer, who contacted influential NFL owners to voice support .
The Pegulas were regarded as frontrunners all along because of their vast personal wealth and strong ties to Western New York that include ownership of the Sabres and construction of the downtown HarborCenter project.
Source: Buffalo News