LOVEMESOMEBILLS Posted September 9, 2014 Posted September 9, 2014 Wow, thought the workday would never end! The best week I can ever remember being a Bills fan. I've been smiling ALL DAY. To know, for sure, that the Bills are staying for a long, long time. The Bills Community needed, but most importantly DESERVED this. We, as fans, have been through so much. I'm so glad I decided to join this board earlier in the year, what a year to join. Thank you Ralph and Mary, Terry and Kim, and all others involved in keeping the Bills in Buffalo. Today we are king of the mountain. To all my fellow brothers and sisters of Bills Nation congratulations, enjoy it, it's been a long time coming. Now let's go out and F@#&ing SQUISH THE FISH.
QCity Posted September 9, 2014 Posted September 9, 2014 Is anyone actually doubting Terry's commitment to spending cash or winning? Maybe some here don't follow the Sabres. I do! Seriously. I guess a lot of people here don't follow hockey?
A Dog Named Kelso Posted September 9, 2014 Posted September 9, 2014 Maybe Golisano throws in 100m to have it called Paychex Field at Ralph Wilson Stadium. Jacobs throws in 100m for the Sportsservice concession contract. I think the NFL has a stadium fund that will kick in up to 200m also. That would mean only 200m in public funds if it is a modest stadium.
dave mcbride Posted September 9, 2014 Posted September 9, 2014 Maybe Golisano throws in 100m to have it called Paychex Field at Ralph Wilson Stadium. Jacobs throws in 100m for the Sportsservice concession contract. I'd far prefer SugarPackets Stadium.
May Day 10 Posted September 9, 2014 Posted September 9, 2014 I think the NFL has a stadium fund that will kick in up to 200m also. That would mean only 200m in public funds if it is a modest stadium. i may be wrong, but I believe that NFL money is in the form of a loan?
papazoid Posted September 9, 2014 Posted September 9, 2014 Wow, thought the workday would never end! The best week I can ever remember being a Bills fan. I've been smiling ALL DAY. To know, for sure, that the Bills are staying for a long, long time. The Bills Community needed, but most importantly DESERVED this. We, as fans, have been through so much. I'm so glad I decided to join this board earlier in the year, what a year to join. Thank you Ralph and Mary, Terry and Kim, and all others involved in keeping the Bills in Buffalo. Today we are king of the mountain. To all my fellow brothers and sisters of Bills Nation congratulations, enjoy it, it's been a long time coming. Now let's go out and F@#&ing SQUISH THE FISH. what he said.
Kelly the Dog Posted September 9, 2014 Posted September 9, 2014 i may be wrong, but I believe that NFL money is in the form of a loan? Sort of, yes. The new loan program — which actually will be called "G-4" — ups the maximum loan level from $150 million per team under the old plan to a maximum of $200 million under the new one. Only projects costing at least $400 million, and with a "private contribution" from the team of at least $200 million, will be eligible for the top loan level As under G-3, teams can repay the loan with club seat money they normally would have had to share with the league. They can now also use incremental regular ticket revenue, defined as the difference between ticket sales in the new stadium and average sales in the last three years of the old one. "The project must not involve any relocation of or change in an affected club's 'home territory.'" That's in keeping with the old G-3 plan's goal of aiding teams in building new stadiums in their existing hometowns (to avoid the kind of city-hopping that gave us the St. Louis Rams and Tennessee Titans). Still, it's worth noting that this means the Minnesota Vikings, for example, can access $200 million in G-4 loans for a new stadium in Minnesota, but not for one in, say, Los Angeles.
A Dog Named Kelso Posted September 9, 2014 Posted September 9, 2014 Sort of, yes. I saw that but it seems almost like you are repaying with money you would not really be getting anyway. I thought there is a new provision that allows a team to pay back the loan with revenue from TV also. I didn't really understand it but it seems like a loan paid back with community funds.
eball Posted September 9, 2014 Posted September 9, 2014 I just have to say that as far as work was concerned today.... Zero F***s Given
kasper13 Posted September 9, 2014 Posted September 9, 2014 For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center.
Kelly the Dog Posted September 9, 2014 Posted September 9, 2014 For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center. Good summary and post, with a couple minor corrections. He bought the sports agency, the France AllPro Athlete Management Company, which was already established. http://espn.go.com/nhl/story/_/id/7325044/buffalo-sabres-owner-terry-pegula-buys-nfl-player-agent-company. And he had to share a portion of the $1.75b sale with a partner. I think, but not sure, he made perhaps 1.25b before taxes. Still a nice little chunk of change, and close to what he bought the team for.
Mike in Horseheads Posted September 9, 2014 Posted September 9, 2014 Good summary and post, with a couple minor corrections. He bought the sports agency, the France AllPro Athlete Management Company, which was already established. http://espn.go.com/n...-agent-company. And he had to share a portion of the $1.75b sale with a partner. I think, but not sure, he made perhaps 1.25b before taxes. Still a nice little chunk of change, and close to what he bought the team for. For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center. Great summary but I would say his net worth did not increase with the sale of the land rights as they were part of the 3.5 billion. The sale did however make him more liquid on his assets and allow him to drop on one big mofo bag of pennies on Goodells desk! A great day for WNY!
GG Posted September 9, 2014 Posted September 9, 2014 For those who don't know or haven't been keeping track, Pegula (and his wife) own the Bills, Sabres, Bandits, Rochester Americans, built Harbor Center (which opens next month across from First Niagara Center), donated $88 million to Penn State to start a Division I Hockey Program and build an arena, started a record label in Nashville and started a sports agency. He is in the top 5 as far as net worth among NFL owners. He recently sold fracking land rights for $1.75 billion. There is $375 million in change left over from that after buying the Bills. That does not include the $3.5 billion he had prior to the recent land deal. Not bad for someone who started a business with $7,500 in borrowed cash in 1983. Money is just not a concern to him. Next up: I would expect a new stadium to go downtown next to Harbor Center/First Niagara Center. He'll have a few more disposable sheckels when he sells the sports agency.
The Wiz Posted September 9, 2014 Posted September 9, 2014 He'll have a few more disposable sheckels when he sells the sports agency. How old is his oldest kid? Everyone knows about Jessie but I thought he had an older son. Could always pass it on to him.
sodbuster Posted September 9, 2014 Posted September 9, 2014 I still feel like hugging everyone. I need to find somebody to slap the grin off my face.
Punch Posted September 9, 2014 Posted September 9, 2014 @TheBillsMafia: And they lived happily ever after.
Deranged Rhino Posted September 9, 2014 Posted September 9, 2014 I need to find somebody to slap the grin off my face. There's gotta be an ap for that.
Kelly the Dog Posted September 9, 2014 Posted September 9, 2014 How old is his oldest kid? Everyone knows about Jessie but I thought he had an older son. Could always pass it on to him. Michael Pegula, his oldest kid, is in his mid 30s, 35-36 or so I think.
Kirby Jackson Posted September 9, 2014 Posted September 9, 2014 Great summary but I would say his net worth did not increase with the sale of the land rights as they were part of the 3.5 billion. The sale did however make him more liquid on his assets and allow him to drop on one big mofo bag of pennies on Goodells desk! A great day for WNY! FWIW, there are rumors out there that his net worth is upwards of $6B because of the way that his land has appreciated. That's a conversation for another day but he is anywhere from about 2-5 in terms of wealthiest NFL owners.
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