K-9 Posted May 4, 2014 Posted May 4, 2014 (edited) It's common sense. Put yourself in his shoes. He strikes it rich and decides to buy his favorite hockey team from when he was growing up as well as invest in his college hockey team. Dream come true right? We all would love to be able to do that. He has vowed to bring a Stanley Cup to Buffalo and is focused on that. Then he committed to building a state of the art training facility and hotel which is now under construction. And meanwhile, while all of this is going on, the team tanks and they decide to rebuild from scratch. Not a very good start and he sure has his work cut out for him to turn things around but he is determined because that's his team. Then meanwhile another sports team in town is up for sale which he has no link to whatsoever (Steelers fan growing up but not much of a football fan at all). Think about it, he's way too busy to even care. Truth be told if that team leaves then his team is the only game in town so it's of no benefit for him to be involved. You can't blame him. I think he will do what it takes to make the Sabres relevant again but he can care less about the Bills Terry may be a bigger fan than you know. Plus, his wife has been a Bills fan all her life. And then there's LaConfora's reports of Pegula's name being tossed around at the league meetings in March. Hmm. Granted, it's all speculation, but still. http://www.buffaloru...g-buffalo-bills GO BILLS!!! Edited May 4, 2014 by K-9
PromoTheRobot Posted May 4, 2014 Posted May 4, 2014 Interesting. When he sold the Sabres, a condition of the sale was that they couldn't be moved out of Buffalo. Wonder why the NFL is different. GO BILLS!!! "Illegal" might be the wrong term. Might be more "not allowed by NFL rules?"
ICanSleepWhenI'mDead Posted May 4, 2014 Posted May 4, 2014 (edited) Interesting. When he sold the Sabres, a condition of the sale was that they couldn't be moved out of Buffalo. Wonder why the NFL is different. GO BILLS!!! Only thing my brother Darryl can think of, and this is just the wild-ass guess of a moron, is that because the article says Ralph was 86 at the time of the interview, maybe the trust was already established when Ralph sought the legal advice. Darryl says he ain't clear about all the ins and outs of when trusts are revocable (i.e., they can be changed), and when they are irrevocable (if I gotta put an i.e. explanation here, you may have gone to remediation school with Darryl). Ralph unceremoniously gave to a lot of charities during his lifetime - - it certainly seems plausible that he may have made at least one charity a beneficiary of some portion of the value of the assets in the trust. If that's what happened, Darryl thinks maybe the trustees, reportedly including Mary Wilson and Jeffrey Littman, have a fiduciary responsibility to maximize the sales price for the benefit of all of the beneficiaries - - not just the ones who happen to be Ralph's relatives. Another poster (BringBackFergy?) suggested that if all of the beneficiaries agreed in advance to honor Ralph's legacy by accepting a non-maximum bid from a Buffalo ownership group, it wouldn't matter if the terms of the trust said that the sale should be made to the highest bidder (or to the highest bidder who could obtain approval from 75% of the other NFL owners). Assuming that's true, Darryl thinks that doesn't address the possibility that medical research institutions or other charities are included among the beneficiaries of the trust. Even if Mary Wilson wanted to favor a local ownership group despite receiving a higher bid from somebody else, would you expect the CEO of a medical research institution (especially if it happened to be an out-of-state medical research institution) to agree to a sale that generated less $$ for medical research? How many sick people should that CEO throw on the dust bin so that the Bills can stay in Buffalo? Darryl don't watch much hockey, but as far as he knows, the hockey team sale didn't involve trustees, so it twern't an amalgamous situation. This post certainly raises more questions than it answers, but hey, it's just reporting the musings of a moron who ain't all that knowledgeable about what's happenin' beyond the borders of the holler. Darryl's been known to be wrong a time or two. Roll Tide! And Go Bills!! Edited May 4, 2014 by ICanSleepWhenI'mDead
PromoTheRobot Posted May 4, 2014 Posted May 4, 2014 (edited) Terry may be a bigger fan than you know. Plus, his wife has been a Bills fan all her life. And then there's LaConfora's reports of Pegula's name being tossed around at the league meetings in March. Hmm. Granted, it's all speculation, but still. http://www.buffaloru...g-buffalo-bills GO BILLS!!! Pegula is rocking the foot of Main St. A new stadium by the FNC would just add to the synergy Edited May 4, 2014 by PromoTheRobot
K-9 Posted May 4, 2014 Posted May 4, 2014 Pegula is rocking the foot of Main St. A new stadium by the FNC would just add to the synergy I agree 100%. His commitment to the revitalization of the city cannot be overstated. The man is putting crane's in the air with his own nickle. I'd really like to know who was in the group that toured various potential stadium sights. GO BILLS!!!
GunnerBill Posted May 4, 2014 Posted May 4, 2014 Whoever she picks still needs to be approved by the league. So the highest bidder might work for her, but not the league, in which case she has to sell to someone who will fulfill both needs. That all may be true. But said owner would still have to be approved by the league. And the league is under no obligation to approve of the ownership group the trust might sell to due to concern for their own business interests. So then what? The trust/family sells to the highest bidder who can gain approval from the league. I don't see any alternative to the family and the league working hand in hand on this. If the league wants the Bills in WNY, the Bills will be in WNY. Trust or no trust. I also wonder why there seems to be a sentiment that a WNY-centered bidder wouldn't be able to outbid other potential ownership groups wherever they may come from. I agree. I'm on record as saying I'm pretty much certain the Bills stay in Buffalo. I think the factors in play all make that by far the most likely scenario. I was simply sharing my knowledge on some of the legal technicalities in the way that such trusts are generally set up and operate.
zonabb Posted May 4, 2014 Posted May 4, 2014 I agree 100%. His commitment to the revitalization of the city cannot be overstated. The man is putting crane's in the air with his own nickle. I'd really like to know who was in the group that toured various potential stadium sights. GO BILLS!!! You'r unquestionably overstating it. He's put "cranes in the sky' on one project, not many, on one site in a city that's more than 40 square miles. He's hardly "committed to the revitalization of the city." I'd be shocked if he could identify more than a handful of streets on a map. So let's not anoint him the savior of a once proud city whose legacy is massive vacancy, abandonment, segregation, poverty, dysfunctional schools, and pathetic leadership. About the only thing I'll applaud him for is using his own money without his hand out like the d-bag hypocrite who touts a conservative agenda until the money is doled out for his projects, then suddenly the govt is welcome in the private market place if he benefits. However, he still bought the parcel from the city for pennies on the dollar, so there's that reality. I'd certainly, however, rather have Pegula than these other guys. He seems to be old school, enjoys his team for the love of the game, not the greed and profiteering a Golisano, Milstein, Trump, or Bon Douchey would command.
Mike in Horseheads Posted May 4, 2014 Posted May 4, 2014 Interesting. When he sold the Sabres, a condition of the sale was that they couldn't be moved out of Buffalo. Wonder why the NFL is different. GO BILLS!!! I'm guessing it's because the team is in a trust not just a sale by owner (?)
Lurker Posted May 4, 2014 Posted May 4, 2014 " I'd be shocked if he could identify more than a handful of streets on a map. Since TP lived in Orchard Park for a number of years in the 80's and 90s and had seasons tix to the Sabres for 18 years, I suspect he can drive around WNY pretty well
Kirby Jackson Posted May 4, 2014 Posted May 4, 2014 (edited) Sure. Because, you know, starting over is something that needs to be done again and again. Why not re-rebuild once more amirite? Football people are in the football jobs. Whaley is the top football man. Brandon is the team President, which is not always and not necessarily a football person. I understand that 14+ years of no playoffs sucks. But the people in charge at the moment are not responsible for 14 years without playoffs. I worked in pro sports for 8 years and have never seen a successful organization run by anyone other than business people. A lot have front men that may have played there and make decisions on the ops side but no one has those people making business decisions (pricing, lease deals, sponsorship deals, etc..). The people that are put in charge of the business are business people. My old boss is currently the president if the NJ Devils and he originally came from Ventura Foods. The people selecting talent is different but make no mistake they do not run the team. The GM usually reports to the president (often the head coach too). Edited May 4, 2014 by Kirby Jackson
Braedenstearns Posted May 4, 2014 Posted May 4, 2014 Are they getting a new stadium? I heard from someone that they might be getting a new stadium? Anyone know for sure?
RyanC883 Posted May 4, 2014 Posted May 4, 2014 still say it's Pegula......he's the only one NOT talking. This is my guess as well.
Mike in Horseheads Posted May 4, 2014 Posted May 4, 2014 This is my guess as well. I'd like to think the same but does he have a billion in cash plus another 500k for a new stadium available? Net worth is one thing but cash flow is a totally different thing and 'The Shield" doesn't like owners with a big debt service.
purple haze Posted May 4, 2014 Posted May 4, 2014 (edited) It's common sense. Put yourself in his shoes. He strikes it rich and decides to buy his favorite hockey team from when he was growing up as well as invest in his college hockey team. Dream come true right? We all would love to be able to do that. He has vowed to bring a Stanley Cup to Buffalo and is focused on that. Then he committed to building a state of the art training facility and hotel which is now under construction. And meanwhile, while all of this is going on, the team tanks and they decide to rebuild from scratch. Not a very good start and he sure has his work cut out for him to turn things around but he is determined because that's his team. Then meanwhile another sports team in town is up for sale which he has no link to whatsoever (Steelers fan growing up but not much of a football fan at all). Think about it, he's way too busy to even care. Truth be told if that team leaves then his team is the only game in town so it's of no benefit for him to be involved. You can't blame him. I think he will do what it takes to make the Sabres relevant again but he can care less about the Bills All of what you say is possible. HOWEVER, Pegula is a businessman before anything else. The other team in town is one that is profitable and in a league where the profits keep rising. And I believe a new stadium would also lead to other real estate development opportunities that might interest him. That means potentially more money for him. He's not scouting or drafting or coaching players. He hires a team to do that. IF he were to own the Bills he would do the same thing. He wouldn't be doing that himself. What he would do is make money and increase his business portfolio and national profile which could lead to more money streams. The Bills being in Buffalo hasn't decreased the Sabres attendance or general support. So there is no need for him to wish them away. I agree. I'm on record as saying I'm pretty much certain the Bills stay in Buffalo. I think the factors in play all make that by far the most likely scenario. I was simply sharing my knowledge on some of the legal technicalities in the way that such trusts are generally set up and operate. Appreciate you sharing. It was good knowledge to get. Edited May 4, 2014 by purple haze
RayFinkle Posted May 4, 2014 Posted May 4, 2014 You'r unquestionably overstating it. He's put "cranes in the sky' on one project, not many, on one site in a city that's more than 40 square miles. He's hardly "committed to the revitalization of the city." I'd be shocked if he could identify more than a handful of streets on a map. So let's not anoint him the savior of a once proud city whose legacy is massive vacancy, abandonment, segregation, poverty, dysfunctional schools, and pathetic leadership.... One project which is finally reshaping the waterfront and will make Buffalo a destination city for youth hockey...Do you understand the scope of what exactly he is doing? Rome wasn't built in a day, but what he is doing is a MASSIVE start to drive commerce to the city.
1B4IDie Posted May 4, 2014 Posted May 4, 2014 Yeah the idea that it would take years until the Bills are sold idea was silly. When was the last time an NFL franchise became available for purchase? The Browns? There are Billionaires around the Planet that want to own an NFL franchise. It's like if Mario Williams killed Marsha Brady during a game. Everyone would say "The poor, grieving widow Gisselle. It will take her years to get over the loss, in time she may find a new man." In reality on Day 1 there would be a line of swantz around the building trying to tap that. There is a line of swantz around OBD trying to tap that, guaranteed.
stony Posted May 4, 2014 Posted May 4, 2014 I'd like to think the same but does he have a billion in cash plus another 500k for a new stadium available? Net worth is one thing but cash flow is a totally different thing and 'The Shield" doesn't like owners with a big debt service. Agree about the league wanting a guys w/o a ton of debt, but by no means does TP need a liquid 1 billion to buy the team.
billieve420 Posted May 4, 2014 Posted May 4, 2014 Brandon had dinner with Golisano this past week. Things keep getting more interesting as we speak. I think the signs are pointing to the team staying here one could only hope it comes true. http://www.buffalonews.com/city-region/golisano-and-brandon-have-dinner-as-intrigue-over-bills-ownership-grows-20140503?two-bills-drive
Kirby Jackson Posted May 4, 2014 Posted May 4, 2014 Agree about the league wanting a guys w/o a ton of debt, but by no means does TP need a liquid 1 billion to buy the team. Pegula is as liquid as anyone. He sold his company for $4.7B. He could buy the Bills and stadium in cash if he wanted to. That is a large part of his appeal. In addition to his large net worth it is extremely liquid.
thewildrabbit Posted May 4, 2014 Posted May 4, 2014 Sure. Because, you know, starting over is something that needs to be done again and again. Why not re-rebuild once more amirite? Football people are in the football jobs. Whaley is the top football man. Brandon is the team President, which is not always and not necessarily a football person. I understand that 14+ years of no playoffs sucks. But the people in charge at the moment are not responsible for 14 years without playoffs. You are entitled to your opinion, and I'm entitled to mine. Brandon has had a major role within the Org for eight years, and after Marv retired the team having no GM it is easy for me to speculate on who else was guiding the team along with the owner. My sole reasoning for this is because the same stupidity that has enveloped this team for a lot of that time is still prevalent. I could care less if Brandon is retained as CEO, as long as the team hires a true "football" man as president for the football side of the operations. Like Green Bay has ex NFL safety Mark Murphy as president / CEO the last seven years, and they won a SB under him. Like Baltimore has ex NFL TE Ozzie Newsome as VP / GM, and has won several SB's under him. Like the Colts had Bill Polian as GM / president, and won a SB with him. I would like to see a knowledgeable football guy in charge of the football side of the team rather then a marketing / baseball guy is all.
.thumb.jpg.368ac7a4facb36371d5d3d8b15068547.jpg)
Recommended Posts