Skip to main content

CSN Bay Area

HOME  >  NEWS  >  SPORTS
Report: Sabres owner has tentative agreement to buy Bills
Share This Post
Comments
Tuesday, September 9, 2014 - 7:45am

Programming note: For all the day’s sports news, tune in to SportsNet Central tonight at 6 p.m., 10:30 and midnight on Comcast SportsNet Bay Area

BUFFALO, N.Y. -- Buffalo Sabres owners Terry and Kim Pegula are closing in on their purchase of the Buffalo Bills.

The bid has been tentatively approved by members of late owner Ralph Wilson's estate, two people familiar with discussions told The Associated Press on Tuesday. They spoke on the condition of anonymity because the sale is being conducted privately.

The next step, the people said, is for the estate to get initial approval from the NFL. That could come by the end of the week and as early as later in the day in a process that could be completed by next month.

The development comes a day after the Pegulas were among at least three prospective ownership groups to submit binding bids to purchase the team.

The other two groups to submit bids were 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 pursuing the franchise in May. They have a net worth of more than $3.5 billion, and have the support of local business leaders and public officials because of their commitment to keep the Bills in western New York.

Once identified as the prospective ownership candidates, the Pegulas would require approval from members of the NFL Finance Committee, which is to meet next week. They would also have to go through an extensive background check by an NFL-contracted security firm.

The final step would be approval from three-quarters of the league's 31 other owners, which could come at league meetings next month. After that, NFL owners are next scheduled to meet in December.

Under NFL ownership rules, the Pegulas are allowed to own both the Bills and the Sabres because they are located in the same market.

The Bills are up for sale after Wilson, a Hall of Famer who founded the franchise, died in March.

The franchise was last valued by Forbes at $935 million. But the sale price is expected to exceed $1 billion because NFL franchises rarely go on the block.

The Cleveland Browns were sold for close to $1.05 billion two years ago. The Miami Dolphins sold for an NFL-record $1.1 billion in 2009, but their deal also included their stadium.

U.S. Sen. Charles Schumer has been involved with the sale process to ensure the Bills stay in New York. Last week, Schumer expressed support of the Pegulas to at least 10 NFL owners.

During a stop in Buffalo on Monday, Schumer said he had conversations regarding the sale that day with both Terry Pegula and NFL Commissioner Roger Goodell.

"We talked about the lay of the land. I'm not going to get into details," Schumer said. "But I believe that (Pegula) is enthusiastic about owning and keeping the Bills in Buffalo for generations."

Under the lease agreement reached in December 2012 with New York State and Erie County, the Bills are essentially bound to play at Ralph Wilson Stadium through the end of the 2019 season. There is a one-time out clause that would allow the team to break the agreement for just under $28.4 million in 2020.

NBCBayArea.com

There is no data to display.

Video

Morning Minute: York speaks; Donaldson, Panik lift A's, Giants
Panik: 'Getting five hits in a game is something special'
Posey: Hitting is contagious; we're all on a good roll right now
Petit: I like pitching at AT&T Park

Giants

Rewind: Strong, silent Petit helps shrink Giants' deficit
NL Wild Card Watch: Phillies beat Pirates 4-3
NL West Watch: Dodgers fall to Padres, Giants gain ground
Instant Replay: Petit dominates D'backs, Giants win 5-1
Read More

Athletics

AL Wild Card Watch: Astros edge Mariners 2-1
Rewind: Donaldson, A's enjoy quite a turnaround
AL Wild Card Watch: Tigers top Royals
Instant Replay: A's find bats, take advantage of poor defense
Read More

Sharks

Sharks Outlook: Nieto can build off rookie year
Sharks Outlook: Niemi no longer undisputed starter
Sharks notes: Torres still hasn't had surgery
Sharks Outlook: Mueller could make the jump
Read More

49ers

Bears LB Briggs shares his three keys to beating 49ers
Former 49ers WR Morgan: 'I love Coach Harbaugh'
Cox fills many roles as valuable 49ers backup
Six reasons Condoleezza Rice should not replace Goodell
Read More

Raiders

By the numbers: Texans vs. rookie quarterbacks
Former Chargers QB Leaf sentenced to five years in prison
Report: Raiders starting offense playing on the cheap
Longer video shows shouting, spitting between Rice, Palmer
Read More

Warriors

NBA picks perfect time to expose another racial gaffe
Thompson drops 20, leads Team USA to World Cup semis
Warriors sign Holiday, roster stands at 17 players
Bruce Levenson to sell Hawks after racially charged email
Read More

NCAA

NCAA lifts Penn State's postseason ban
Pac-12 fines USC athletics director for confronting officials
Ray Ratto's Top 25 college football rankings: Week 3
No. 5 Auburn overwhelms San Jose State 59-13
Read More
  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • MLB Standings
  • Insider Andrew Baggarly
  • Amy G
  • Buy Giants Gear
  • Buy Giants Tickets

Latest News

Rewind: Strong, silent Petit helps shrink Giants' deficit
(1)
Andrew Baggarly

More Stories

NL Wild Card Watch: Phillies beat Pirates 4-3
NL West Watch: Dodgers fall to Padres, Giants gain ground
(1)
See more >

More Stories

Instant Replay: Petit dominates D'backs, Giants win 5-1
(5)
Giants notes: Belt progressing, Morse questionable
(3)
See more >

GIANTS VIDEO

Panik: 'Getting five hits in a game is something special'
Panik: 'Getting five hits in a game is something special'
See more >

GIANTS INSIDER

There is no data to display.

  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • MLB Standings
  • Insider Joe Stiglich
  • Buy Athletics Gear
  • Buy Athletics Tickets

Latest News

AL Wild Card Watch: Astros edge Mariners 2-1
(1)
Associated Press

More Stories

Rewind: Donaldson, A's enjoy quite a turnaround
(1)
AL Wild Card Watch: Tigers top Royals
See more >

More Stories

Instant Replay: A's find bats, take advantage of poor defense
(1)
Gentry leaves game with concussion
(1)
See more >

A's VIDEO

Melvin: 'Floodgates opened' for A's offense
Melvin: 'Floodgates opened' for A's offense
See more >

A's INSIDER

  • Rewind: Donaldson, A's enjoy quite a turnaround
  • Instant Replay: A's find bats, take advantage of poor defense
  • Gentry leaves game with concussion
  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • NHL Standings
  • Insider Kevin Kurz
  • Buy Sharks Gear
  • Buy Sharks Tickets

Latest News

Sharks Outlook: Nieto can build off rookie year
(3)
Kevin Kurz

More Stories

Sharks Outlook: Niemi no longer undisputed starter
(12)
Sharks notes: Torres still hasn't had surgery
(6)
See more >

More Stories

Sharks Outlook: Mueller could make the jump
(2)
Sharks Outlook: Marleau's future in teal still in doubt
(9)
See more >

SHARKS VIDEO

YSTL: Sharks make statement by removing Thornton as captain
YSTL: Sharks make statement by removing Thornton as captain
See more >

SHARKS INSIDER

  • Sharks Outlook: Nieto can build off rookie year
  • Sharks Outlook: Niemi no longer undisputed starter
  • Sharks notes: Torres still hasn't had surgery
  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • NBA Standings
  • Insider Monte Poole
  • Buy Warriors Gear
  • Buy Warriors Tickets

Latest News

NBA picks perfect time to expose another racial gaffe
(2)
Monte Poole

More Stories

Thompson drops 20, leads Team USA to World Cup semis
Warriors sign Holiday, roster stands at 17 players
(2)
See more >

more stories

Bruce Levenson to sell Hawks after racially charged email
(1)
Curry lights it up for Team USA
(3)
See more >

WARRIORS VIDEO

YSTL: Curry taking charge of Team USA
YSTL: Curry taking charge of Team USA
See more >

WARRIORS INSIDER

  • NBA picks perfect time to expose another racial gaffe
  • Curry lights it up for Team USA
  • Friday Five: Best foreign-born NBA stars
  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • NBA Standings
  • Buy Kings Gear
  • Buy Kings Tickets

Latest News

Cousins responds to condescending Slovenia question
Y! Sports

More Stories

Kings waive big man Jeremy Tyler
(2)
Kings waive G Ellington one month after trade
See more >

More Stories

Report: Kings shipping G Terry to Houston
Report: Cousins cemented USA roster spot long before cuts
(2)
See more >

Kings Video

Spears: Cousins' status for Team USA in doubt after injury
Spears: Cousins' status for Team USA in doubt after injury
See more >

Fantasy Hoops

  • Fantasy news, analysis, draft guide, cheatsheets, projections & more
  • PRO BASKETBALL TALK
  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • NFL Standings
  • Insider Matt Maiocco
  • Buy 49ers Gear
  • Buy 49ers Tickets

Latest News

Bears LB Briggs shares his three keys to beating 49ers
CSNChicago.com

More Stories

Former 49ers WR Morgan: 'I love Coach Harbaugh'
Cox fills many roles as valuable 49ers backup
(7)
See more >

More stories

Six reasons Condoleezza Rice should not replace Goodell
(4)
Goodell: NFL didn't see new Ray Rice video until this week
(3)
See more >

49ers VIDEO

YSTL: Should Roger Goodell resign over Rice situation?
YSTL: Should Roger Goodell resign over Rice situation?
See more >

49ers INSIDER

  • Cox fills many roles as valuable 49ers backup
  • Ward: 'I don't have a concussion'
  • Source: James clears waivers, free to sign with any team
  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • NFL Standings
  • Insider Scott Bair
  • Buy Raiders Gear
  • Buy Raiders Tickets

Latest News

By the numbers: Texans vs. rookie quarterbacks
CSNHouston.com

More Stories

Former Chargers QB Leaf sentenced to five years in prison
Report: Raiders starting offense playing on the cheap
(12)
See more >

More Stories

Longer video shows shouting, spitting between Rice, Palmer
(12)
Scott Bair's Raiders chat transcript (9.9.14)
See more >

RAIDERS VIDEO

Reece: Derek Carr is not here to save the Raiders
Reece: Derek Carr is not here to save the Raiders
See more >

RAIDERS INSIDER

  • Report: Raiders starting offense playing on the cheap
  • Scott Bair's Raiders chat transcript (9.9.14)
  • Raiders Quick Hits: Running game abandons young QB
  • Scoreboard
  • Stats
  • Schedule
  • Roster
  • MLS Standings
  • MLS Player Leaders
  • Buy Quakes Gear
  • Buy Quakes Tickets

Top Story

Quakes allow late goal, settle for draw with Timbers
Associated Press

More Stories

Earthquakes, Real Salt Lake play to 1-1 draw
(1)
Quakes face RSL looking to end four-game winless streak
(1)
See more >

Quakes Video

Wondolowski reflects on his World Cup experience
Wondolowski reflects on his World Cup experience
See more >

Shop

ANDREW BAGGARLY

Rewind: Strong, silent Petit helps shrink Giants' deficit
(1)
See more >

MONTE POOLE

NBA picks perfect time to expose another racial gaffe
(2)
See more >

MATT MAIOCCO

Cox fills many roles as valuable 49ers backup
(7)
See more >

SCOTT BAIR

Report: Raiders starting offense playing on the cheap
(12)
See more >

KEVIN KURZ

Sharks Outlook: Nieto can build off rookie year
(3)
See more >

JOE STIGLICH

Rewind: Donaldson, A's enjoy quite a turnaround
(1)
See more >

RAY RATTO

Six reasons Condoleezza Rice should not replace Goodell

TOP STORIES

  • By the numbers: Texans vs. rookie quarterbacks
  • Former Chargers QB Leaf sentenced to five years in prison
  • Report: Raiders starting offense playing on the cheap

SAY HEY TUESDAY

Join us for Say Hey Tuesday – every Tuesday Giants home game.

ENTER TO WIN 49ERS TICKETS!

49ers
Click here for the chance to win 49ers tickets all season long!

AFF - A'S

Authentic Fan Friday - A's

Come to Authentic Fan Friday at the A's! 

Sit in the Value Deck and score free giveaways - get more info here!

 

NCAA

No. 5 Auburn overwhelms San Jose State 59-13
Stanford falls to USC after late field goal, forced fumble

MORE

  • SaberCats
  • Fight Sports
  • Motor Sports
  • GolfChannel.com
  • Tennis
  • Ray Ratto

 

TICKETS

  • Giants Tickets
  • A's Tickets
  • 49ers Tickets
  • Raiders Tickets
  • Warriors Tickets
  • Kings Tickets
  • Sharks Tickets
Curry Jersey
Giants Fitted Hat
49ers Hoodie

Mega Menu: Shop

  • Giants
  • A's Shop
  • 49ers
  • Raiders Shop
  • Warriors
  • Kings Shop
  • Sharks Shop

Mega Menu: Shop - Tickets

  • Giants Tickets
  • A's Tickets
  • 49ers Tickets
  • Raiders Tickets
  • Warriors Tickets
  • Kings Tickets
  • Sharks Tickets

Latest Videos

Morning Minute: York speaks; Donaldson, Panik lift A's, Giants
Morning Minute: York speaks; Donaldson, Panik lift A's, Giants
See more >

ONLINE SHOWS

  • Carpool Confessions
  • Amy G’s Exclusives
  • Buster Knows Squat
  • Humm BB
  • Bullshootin'

TV SHOWS

  • All Videos
  • SportsNet Central
  • Yahoo SportsTalk Live

INSIDERS

  • Ray Ratto - Senior Insider
  • Kevin Kurz - Sharks
  • Monte Poole - Warriors
  • Andrew Baggarly - Giants
  • Joe Stiglich - A's
  • Matt Maiocco - 49ers
  • Scott Bair - Raiders
  • TV Schedule - Bay Area and California
  • Channel Locations - Bay Area
  • Channel Locations - California