Pegula sells a stake in the Bills according to the Sports Business Journal

[Mango]

God, I wish he’d sell the Sabres. 

[Since1981]

  On 11/19/2024 at 2:40 AM, HurlyBurly51 said:

With the stadium overrun costs, he might open it up even a little further.

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Pegs has so much cash. It’s hard to grasp $7B wealth. Each of your kids get $1B. Lordy that goes a long way for great grandkids. 4% interest alone nets $40M/yr on $1B per kid

Edited November 19, 2024 by Since1981

[Saxum]

  On 11/19/2024 at 4:15 AM, Mike in Horseheads said:

Pegula's retain 90% of the team, the other 10% group really has no say in the operation of the franchise just looking to make money.  I have no problem with who ever owns that small share

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It depends on whatever other agreements they made as part of buying shares.  They could become Jerry Jones with significant influence in Bills.

[SoonerBillsFan]

He is using this money to cover the cost overruns.  

Edited November 19, 2024 by SoonerBillsFan

[Mike in Horseheads]

  On 11/19/2024 at 4:19 AM, Saxum said:

 

It depends on whatever other agreements they made as part of buying shares.  They could become Jerry Jones with significant influence in Bills.

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spare me, its not a publicly traded stock where they all can get together and make a move to acquire a voting majority of the company.  That 500m (est) is paying the stadium cost overruns for Pegula and make money for them.  nothing to see here folks

[Saxum]

  On 11/19/2024 at 4:25 AM, Mike in Horseheads said:

spare me, its not a publicly traded stock where they all can get together and make a move to acquire a voting majority of the company.  That 500m (est) is paying the stadium cost overruns for Pegula and make money for them.  nothing to see here folks

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Put me on ignore spare seeing it.  Will bring it up again in other threads although others may quote.

[foreboding]

  On 11/19/2024 at 3:23 AM, Freddie's Dead said:

The company I work for is owned by KKR, who is systematically balkanizing the company into separate units that can be sold off piecemeal.  Their financial involvement in the Bills at any level is bad *****in' news.

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LBO experts, that's what they specialize in. Remember "Barbarians at the Gate?"

[Boatdrinks]

Yawn…

[Ned Flanders]

Perhaps these people are investing in the team because it's cheaper than buying PSLs? 

[T.E.]

What happens when he passes? What if his kids don't want to inherit the team? Do these groups have an opportunity to increase their ownership share, possibly to the point where they become decision-makers?

 

Those are the questions I have.

[BillsShredder83]

  On 11/19/2024 at 4:15 AM, Mike in Horseheads said:

Pegula's retain 90% of the team, the other 10% group really has no say in the operation of the franchise just looking to make money.  I have no problem with who ever owns that small share

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Article has his at 79.1%.  I get similar looking #'s, but 79% and 90% feels like ocean's apart

[Buffalo03]

I thought he already gave 25% to his daughter? Why do they need to do this?

[EasternOHBillsFan]

  On 11/19/2024 at 3:26 AM, Saxum said:

 

Yes when I was in intensive care one of the doctors told me that they pressed to have people stay extra days since the rooms are major revenue for hospitals and insurance companies pay majority of costs.   Conflict of interest IMO but I guess not if like doctors selling useless supplements - as long as it does harm health it is not in conflict with Hippocratic Oath.

 

I guess the devil of venture capitalism is better than more PSLs or raise in price of remaining seats which if not sold to fans will be sold to ticket and travel agencies to pay for inflation cost of stadium.   I am sure fans would rather sell naming rights to new dome to stadium.

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Venture capitalists just bought out a hospital system here, so yeah, it's going to get much worse.

[Boatdrinks]

  On 11/19/2024 at 2:56 PM, Buffalo03 said:

I thought he already gave 25% to his daughter? Why do they need to do this?

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Terry Pegula has said all along in this stadium process that he doesn’t want to spend any of his fortune for a stadium. Simply put, that’s what this is about. 

[Chicken Boo]

  On 11/19/2024 at 2:35 AM, Sojourner said:

I’d love to own something other than my house and an unnecessary truck 🫨

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The truck is very necessary.  

[Sojourner]

  On 11/19/2024 at 2:51 PM, T.E. said:

What happens when he passes? What if his kids don't want to inherit the team? Do these groups have an opportunity to increase their ownership share, possibly to the point where they become decision-makers?

 

Those are the questions I have.

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I would expect, if the Pegulas don’t want to inherit the club; I know his children with Kim are hardcore Buffalonians so I’d think they do, it goes to the NFL board to approve the majority share holder like they’ve done in the past regarding someone becoming a majority shareholder? 

[Mr. WEO]

  On 11/19/2024 at 2:18 AM, Bruffalo said:

Great, because as we all know, everything gets better when there's venture capitalists and private equity firms involved. 🤑

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  On 11/19/2024 at 2:41 AM, EasternOHBillsFan said:

 

No kidding... they ruin everything their grubby hands touch. Very disappointing.

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  On 11/19/2024 at 3:23 AM, Freddie's Dead said:

The company I work for is owned by KKR, who is systematically balkanizing the company into separate units that can be sold off piecemeal.  Their financial involvement in the Bills at any level is bad *****in' news.

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These are nonvoting, minority owners.  They can have no meaningful say in how the team is run.  They get a nice suite and a can't lose, massive ROI as well as an annual dividend.

 

Why does anyone think any of these people would want to mess with that?

 

Pegula doesn't want to pay a penny for the stadium.  So he sells PSLs as well as bits of his team so he can keep his money.  Nothing wrong with that (except he should ditch any talk of PSLs now that he will take in a billion from these minority owners).

 

  On 11/19/2024 at 3:26 AM, Saxum said:

 

Yes when I was in intensive care one of the doctors told me that they pressed to have people stay extra days since the rooms are major revenue for hospitals and insurance companies pay majority of costs.   Conflict of interest IMO but I guess not if like doctors selling useless supplements - as long as it does harm health it is not in conflict with Hippocratic Oath.

 

I guess the devil of venture capitalism is better than more PSLs or raise in price of remaining seats which if not sold to fans will be sold to ticket and travel agencies to pay for inflation cost of stadium.   I am sure fans would rather sell naming rights to new dome to stadium.

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Hospitals do NOT want you to stay an extra day.  Length of stay numbers are fretted over by any hospital administration because they are paid for discharges--and reimbursement is based on diagnosis codes and procedure facility fees for a patient's stay.   A long stay without other significant billable events is a money loser at some point in the hospital stay.  The hospital wants you out ASAP so they can fill your bed with the next dischargeable patient.  Plus an overfull hospital can slow down the golden goose--the operating room, where the vast majority of the hospital revenue is generated.

 

Covid cost hospital systems billions mainly because they shut down surgeries.  But after that it was because they couldn't get elderly covid patients out of the hospital.  They hogged all the beds.

[Buffalo03]

  On 11/19/2024 at 3:56 PM, Boatdrinks said:

Terry Pegula has said all along in this stadium process that he doesn’t want to spend any of his fortune for a stadium. Simply put, that’s what this is about. 

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I'm sorry that this will put a dent in his pocket. How will he survive?

[HomeskillitMoorman]

  On 11/19/2024 at 3:40 PM, EasternOHBillsFan said:

 

Venture capitalists just bought out a hospital system here, so yeah, it's going to get much worse.

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Well yeah that one I don’t like 

[Bruffalo]

  On 11/19/2024 at 4:19 PM, Mr. WEO said:

 

 

 

These are nonvoting, minority owners.  They can have no meaningful say in how the team is run.  They get a nice suite and a can't lose, massive ROI as well as an annual dividend.

 

Why does anyone think any of these people would want to mess with that?

 

Pegula doesn't want to pay a penny for the stadium.  So he sells PSLs as well as bits of his team so he can keep his money.  Nothing wrong with that (except he should ditch any talk of PSLs now that he will take in a billion from these minority owners).

 

 

Hospitals do NOT want you to stay an extra day.  Length of stay numbers are fretted over by any hospital administration because they are paid for discharges--and reimbursement is based on diagnosis codes and procedure facility fees for a patient's stay.   A long stay without other significant billable events is a money loser at some point in the hospital stay.  The hospital wants you out ASAP so they can fill your bed with the next dischargeable patient.  Plus an overfull hospital can slow down the golden goose--the operating room, where the vast majority of the hospital revenue is generated.

 

Covid cost hospital systems billions mainly because they shut down surgeries.  But after that it was because they couldn't get elderly covid patients out of the hospital.  They hogged all the beds.

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For now, you're absolutely correct. They don't have any control.

 

Let's please keep it that way.  I don't want to throw around slippery slope arguments but I would be lying if I said I wasn't concerned. 

Edited November 19, 2024 by Bruffalo