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Sabers Owners Terry and Kim Pegula Agree To Buy Bills

Atlanta Thrashers v Buffalo Sabres

Have no fear Bills fans – your team is going nowhere.

Today Buffalo Sabres owners Terry and Kim Pegula reached a sale agreement with the Bills on Tuesday, the team announced.

The deal is for $1.4 billion, and Pegulas stressed their intention to keep the Bills in Buffalo in a statement posted on the Sabres’ website.

“Kim and I are humbled and honored that the Wilson family has chosen us to be the second owner of the Buffalo Bills,” the statement read. “Pending the NFL approval process, being the next owner of the Buffalo Bills would be a great privilege for our family. Ralph Wilson left an indelible mark on our community and we will strive every day to honor his legacy.

“Our interest in owning the Bills has everything to do with the people of Western New York and our passion for football. We have knowledgeable, dedicated fans here and along with our ownership of the Buffalo Sabres, it is gratifying to reassure these great fans that two franchises so important to our region are both here to stay.”

The definitive agreement calls for the Pegula family to acquire all of the interest in the Bills franchise from the trust of late owner Ralph Wilson, according to a statement from the Bills. Now, NFL owners must approve the sale. The Bills and the Pegulas intend to submit the agreement for that approval at the owners meeting on October 8th.

“This is a very important day in the history of the Buffalo Bills franchise,” Bills controlling owner Mary Wilson said in the statement. “Ralph brought professional football to Buffalo in 1959 and it was his life’s passion. He loved his team and he cherished the fans and his legacy will remain for all-time. Ralph would have been pleased with the sale of the team to the Terry Pegula family, who has been so committed to Buffalo and the Western New York region.

“I sincerely wish Terry and Kim Pegula all the best with the Buffalo Bills and I’m happy for all Bills fans. Our hope is that this great franchise brings them as much excitement and joy as it did for Ralph and that they bring home a Super Bowl championship for Bills fans everywhere. Go Bills!”

Three ownership groups put in binding bids to buy the team, with the Pegulas group being one of those last three groups.

The other groups to submit bids were one led by New York City real estate mogul Donald Trump and a Toronto group fronted by rocker Jon Bon Jovi.

The Pegulas have been regarded as front-runners to buy the Bills since first expressing interest in May.

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