Pegulas selling 25% of the Bills, per Tim Graham

[Mango]

It has been clear for some time Terry needs some more cash. I think he is likely over invested in sports and the Harbor Center and doesn't have enough liquidity. 

"Nothing to see here I am not selling anything everything is cool. The years of a leaking roof (KBC), keeping the scoreboard for 2x the factory recommendations, bottom half spending across the NHL 7 of the last 9 years, and getting out of any major contractual obligations are just happenstance" - Terry Pegula

"I am selling stuff"- Also Terry Pegula (25% of the Bills, backed out of the BCA lease, and selling the Rochester Knighthawks after saying he wouldn't 2 weeks ago)

[boater]

1 hour ago, noacls said:

The browns and colts say hello. 

And the Rams, Raiders, and the Chargers.

 

$28 million to leave year 7 is a drop in the bucket.

 

EDIT UPDATE: I got the wrong lease here. I posted better: https://www.twobillsdrive.com/community/topic/254136-pegulas-selling-25-of-the-bills-per-tim-graham/page/5/#comment-9027190

 

 

Edited April 19 by boater

[SoonerBillsFan]

2 minutes ago, Call_Of_Ktulu said:

I hope not, KC held the crap out of the Bills Ravens and 49ers in the Playoffs and not one holding penalty was called. If this keeps happening it should devalue the DT/DE positions. 
 

A 3-4 defense with a Joker LB that can just rush from anywhere he wants is probably the way to go.

I would love switching back to a blitzing  3-4 defense

[Process]

1 minute ago, boater said:

And the Rams, Raiders, and the Chargers.

 

$28 million to leave year 7 is a drop in the bucket.

 

 

The lease for the new stadium is only 10 years?

[Bills Fan in MD]

54 minutes ago, Roundybout said:

 

 

Allen & Company?  So now Josh is handling quarterbacking, drafting, and banking?  

[Mango]

Just now, Toomstone.Part.Duex said:

Its difficult to imagine the amount of money some people have.   You'd need over 900 Million just to get a 25% stake.      

 

It is bonkers. I totally agree. 

Also, if he can find a buyer committed to keeping the Sabres in Buffalo for eternity he should 100% do that. They are valued at $900M and he is the worst owner the league has ever seen. 

Or maybe this is the best route? That means somebody else could be in the room with Terry and he can help save this franchise from the ol' Ter-Bear when it comes time to eventually replace Beane/Allen. The Sabres also act as a distraction for Terry. I imagine Brandon Beane waving the Sabres around like an imaginary ball for a dog to get Terry out of the room. 

[Starr Almighty]

36 minutes ago, warrior9 said:

Yeah Mark Cuban recently did this with the Mavs.. but he actually did the majority

Cuban is trying to get a casino and new arena built so he can make even more money. His best bet was to sell to Sands Casino to get the ball rolling.

[Einstein]

3 minutes ago, gflande1 said:

Bills aren’t going anywhere, they have a long term lease in place…it would cost a fortune to break that lease. 

The lease is garbage. I agree the Bills aren't going anywhere (why would they? brand new stadium and all), but if someone were to pay over $5 Billion to buy the team outright (the current value of the team), what is to stop them from paying another 16% to move the team? Nothing. Just 16%.

[14774]

34 minutes ago, Allen2D̶i̶g̶g̶s̶TBD said:

Erie County residents should already own 25% of the team considering we paid for the stadium.

Not just Erie County. Those of us in Allegany County are paying too, and won't see nearly as much economic "benefit".👍

[papazoid]

pretty simple....he has a cash flow problem to pay for the new stadium cost overuns.

[mushypeaches]

I thought that he was just going to drill another oil well instead??

[Gregg]

2 minutes ago, Process said:

The lease for the new stadium is only 10 years?

 

 

30 years.

[warrior9]

1 minute ago, Starr Almighty said:

Cuban is trying to get a casino and new arena built so he can make even more money. His best bet was to sell to Sands Casino to get the ball rolling.

Oh I'm aware. I live in Dallas and am FULLY aware of his future plans .

[Augie]

38 minutes ago, Allen2D̶i̶g̶g̶s̶TBD said:

Erie County residents should already own 25% of the team considering we paid for the stadium.

 

You paid for part of the stadium, not the team. Very different. 

[buffblue]

6 minutes ago, boater said:

And the Rams, Raiders, and the Chargers.

 

$28 million to leave year 7 is a drop in the bucket.

 

 

That was the previous lease lol. Notice how it says 10 years? The new lease is for 30. It does contain a decreasing out as time goes on, but it's not remotely possible for at least 15 or so years.

[Augie]

10 minutes ago, Toomstone.Part.Duex said:

Its difficult to imagine the amount of money some people have.   You'd need over 900 Million just to get a 25% stake.      

 

They say the first million is the hardest. 

 

Then you only need 899 million more.  

[boater]

I was wrong in my previous post. Thanks to all who have point it out. But the termination fee in the big picture is still very little. This from the Buffalo News:

 

[buffaloboyinATL]

Jon Bon Jovi has entered the chat…

[Einstein]

Just now, boater said:

I was wrong in my previous post. Thanks to all who have point it out. But the termination fee in the big picture is still very little. This from the Buffalo News:

 

This is correct. As I mentioned above, if the Pegulas did ever sell the team to a buyer at the team value of $5B, it would only cost that buyer 16% more to move the team.

Some people would simply see that as a cost of doing business. 

 

But moving is not a concern right now. This minority sale of the team is simply due to PSL's not selling as they hoped.

[Ridgewaycynic2013]

 

Edited April 19 by Ridgewaycynic2013