Jon Bon Jovi out of Toronto group looking to buy the Bills

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WestCoastJoe
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sj-roc wrote:I saw a report last night on TSN that JBJ was out of that bid group. The weird part was that the narrative of the report was run over seemingly unrelated visuals of Dennis Skulsky and Wally Buono schmoozing with him, field level @BCP. Some of the shots had players — Lions in gun metal greys and Riders in road whites — in the background. Not sure what the point of these visuals was, but was this from last weekend's game (or possibly last year's Ssk visit)? Don't recall hearing he was here Sunday.
Dunno, sj. But I seem to recall Bon Jovi being at a Lions' game, and schmoozing with Wally et al.
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sj-roc
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WestCoastJoe wrote:
sj-roc wrote:I saw a report last night on TSN that JBJ was out of that bid group. The weird part was that the narrative of the report was run over seemingly unrelated visuals of Dennis Skulsky and Wally Buono schmoozing with him, field level @BCP. Some of the shots had players — Lions in gun metal greys and Riders in road whites — in the background. Not sure what the point of these visuals was, but was this from last weekend's game (or possibly last year's Ssk visit)? Don't recall hearing he was here Sunday.
Dunno, sj. But I seem to recall Bon Jovi being at a Lions' game, and schmoozing with Wally et al.
I think I figured it out. At first I went googling stuff like "bon jovi skulsky" and nothing came up, hence my confusion above. But I just found the band's tour archive. They had a concert last year on Wed Oct 2 across the viaduct from BCP and had a couple days' break until their next show in Tacoma on Sat Oct 5. Our game here vs Ssk was Fri Oct 4 so this must be the source of the file footage. It was prob during pre-game warmups (def gameday to have both teams present and clad in playing, not practice, uniforms) but if I'd heard at the time that he was in the building I'd forgotten it.

It just looked odd to be hearing Jon Bon Jovi's name tied to an NFL story as they ran visuals of him with CFL personnel.
Sports can be a peculiar thing. When partaking in fiction, like a book or movie, we adopt a "Willing Suspension of Disbelief" for enjoyment's sake. There's a similar force at work in sports: "Willing Suspension of Rationality". If you doubt this, listen to any conversation between rival team fans. You even see it among fans of the same team. Fans argue over who's the better QB or goalie, and selectively cite stats that support their views while ignoring those that don't.
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sj-roc
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According to ESPN, Buffalo Sabres owner Terry Pegula is emerging as the favourite to take ownership of the Buffalo Bills, with a decision coming possibly as early as Wednesday. Sorry, Rogers.

Terry Pegula close to buying Bills
Terry Pegula close to buying Bills
Updated: September 8, 2014, 11:47 PM ET

ORCHARD PARK, N.Y. -- Buffalo Sabres owner Terry Pegula is on the verge of buy the Buffalo Bills, league sources have told ESPN NFL Insider Adam Schefter and ESPN Senior Analyst Chris Mortensen.

The process is said to be "moving quick," according to sources, and the Buffalo News has reported a decision could happen by Wednesday.

At least three ownership groups submitted formal bids to buy the Bills on Monday, four people familiar with discussions revealed that information to The Associated Press. They spoke on the condition of anonymity because the sale is being conducted privately.

The other groups submitting bids were led by New York City real estate mogul Donald Trump, and a Toronto group led by rocker Jon Bon Jovi. The bids were submitted to Morgan Stanley, the banking firm overseeing the sale process on behalf of late owner Ralph Wilson's estate.

Three of the people said the estate issued purchase agreements to at least four groups, and potentially five. The other groups' identities are not known, and it's unclear if they submitted bids.

The purchase agreements are formal documents that are negotiated separately by each of the parties and Proskauer Rose, the legal firm representing the estate. The agreements are binding documents that outline the terms and conditions of the sale.

Once those agreements were completed over the past week, the only outstanding question left was for each group to determine its bid price.

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

The Bills are on the market after Wilson, the Hall of Fame inductee and franchise founder, died in March.

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.

Once identified, the prospective owner would be presented to members of the NFL Finance Committee, which is scheduled to meet next week. The candidate must also go through an extensive background check conducted 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.

Terry Pegula and his wife Kim 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.

U.S. Sen. Charles Schumer has stayed closely involved with the sale process to ensure the Bills stay in New York.

Last week, Schumer expressed his support of Pegula in conversations with at least 10 NFL owners.

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

"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 locked in to playing 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.

Information from The Associated Press was used in this report.
This article doesn't make mention of this, but doesn't the NFL have a rule that no owner is allowed to own a franchise in any other pro league? If so then he would have to sell the Sabres as a purchase condition.
Sports can be a peculiar thing. When partaking in fiction, like a book or movie, we adopt a "Willing Suspension of Disbelief" for enjoyment's sake. There's a similar force at work in sports: "Willing Suspension of Rationality". If you doubt this, listen to any conversation between rival team fans. You even see it among fans of the same team. Fans argue over who's the better QB or goalie, and selectively cite stats that support their views while ignoring those that don't.
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WestCoastJoe
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Don't know, sj.

Separate matter ... I'm thinking The Donald lowballed his bid.
John Madden's Team Policies: Be on time. Pay attention. Play like hell on game day.

Jimmy Johnson's Game Keys: Protect the ball. Make plays.

Walter Payton's Advice to Kids: Play hard. Play fair. Have fun.
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sj-roc
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WestCoastJoe wrote:Don't know, sj.

Separate matter ... I'm thinking The Donald lowballed his bid.
I just checked some sources on the cross-ownership issue; apparently there is such a rule but there are exceptions if the multiple franchises are in the same market and/or not in markets where another NFL franchise operates. Some NFL owners also have stakes in European soccer clubs, for instance. So Pegula would be in the clear to own the Bills and Sabres concurrently, but would have to divest his NHL interests if he owned, say, the Dallas Stars or the New York Rangers.
Sports can be a peculiar thing. When partaking in fiction, like a book or movie, we adopt a "Willing Suspension of Disbelief" for enjoyment's sake. There's a similar force at work in sports: "Willing Suspension of Rationality". If you doubt this, listen to any conversation between rival team fans. You even see it among fans of the same team. Fans argue over who's the better QB or goalie, and selectively cite stats that support their views while ignoring those that don't.
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Report: Terry Pegula reaches agreement to buy Bills
Posted by Josh Alper on September 9, 2014, 10:22 AM EDT

Late Monday night, there were reports that the Bills could announce the sale of the franchise to a new owner on Tuesday and that it looked like Terry Pegula would be the man writing a very big check.

All signs continue to point in that direction.

Tim Graham of the Buffalo News reports that Pegula, who also owns the Buffalo Sabres in the NHL, has reached “tentative agreement” to buy the team and that the official announcement should indeed come on Tuesday. Per Graham, the purchase price is in the neighborhood of $1 billion.

That’s a pricey neighborhood, but Pegula’s purchase is seen as a near guarantee that the Bills won’t be leaving their neighborhood for Toronto, Los Angeles or anywhere else. That was something that the Wilson family wanted from whoever succeeded the late Ralph Wilson as the team’s owner and it appears that they’ve succeeded while also landing a pretty nice payday for themselves in the process.
TheLionKing
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Guess the Rogers group will now be looking for another team to buy and move.
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sj-roc
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From Yahoo: Pegulas committed to building stadium for Buffalo Bills, ending Toronto series
Pegulas committed to building stadium for Buffalo Bills, ending Toronto series

By John Wawrow, The Associated Press 6 hours ago

BUFFALO, N.Y. - Terry and Kim Pegula are committed to building a stadium for the Buffalo Bills and are working on ending the team's series of annual home games in Toronto.

Those were among the topics the franchise's new owners touched upon during a wide-ranging 20 minute interview with The Associated Press on Wednesday night.

"Well, there's going to be a new stadium somewhere, that's all I know," Terry Pegula said. "The league was pretty emphatic that Buffalo, we're a small market, needs to be as competitive as we can."

The one answer the Pegulas couldn't provide yet is a location, timeline or how the costs of a new stadium will be split.

Kim Pegula said she and her husband will join an already established New Stadium Working Group that is studying potential locations, designs and costs.

"We know it's out there. We understand it. We realize it. But we want to make sure because you only get to build a stadium once," Kim said. "We want to make sure that when the time comes, that we have done our homework."

The Pegulas stressed they're in no rush after the Bills' current home, Ralph Wilson Stadium, underwent $140 million in renovations this off-season.

As for the Bills-In-Toronto series, the Pegulas are ready to end it.

"We're working on that right now," Kim said. "We want all the home games to be played in Buffalo, so we're working through that. I think it's close, but nothing's been finalized. But that is our intent."

The series was placed on hold in March, when the Bills and Toronto-based Rogers Communications announced an agreement to postpone holding a game north of the border this season. The two sides said they wanted time to "evaluate opportunities and build on the foundation to enhance future games."

The postponement came after Bills management and players expressed concerns about poor fan support at Rogers Centre in downtown Toronto, and whether it was worth giving up a home game in a bid to expand the franchise's exposure in Canada's largest city and financial capital.

The Bills have a 1-5 record since the series was launched in 2008. Under the existing agreement, which was renewed in 2013, the Bills were scheduled to play four more regular-season games in Toronto.

Toronto is about a two-hour drive from Buffalo and part of the Bills' market.


The Pegulas, who also own the NHL's Buffalo Sabres, are still in the midst of their transition in the month since buying the Bills from late owner Ralph Wilson's estate for an NFL-record $1.4 billion.

They're impressed with the job President Russ Brandon has done in overseeing the team during the sale process.

Terry said it's premature to consider making any changes to the team. And he has not yet determined whether he'll hire an outside adviser to evaluate the franchise.

"I don't think we're there yet or if we're even going to get there," he said. "They're in the middle of the season, and if there's one thing the Buffalo Bills don't need right now is a distraction. God bless them, I hope they win every game."

At 5-3, the Bills have put themselves in a position to make a second-half push to compete for a playoff spot and end a 14-year post-season drought — the NFL's longest active streak.

Buffalo hosts Kansas City (5-3) on Sunday.


The Pegulas are still riding a momentous wave of buzz and relief generated in Buffalo. Their purchase secured the Bills' long-term future in western New York amid fears that a new owner would buy and potentially relocate the franchise.

There were no such concerns with the Pegulas, who have established firm roots in Buffalo while maintaining their base in Florida. Aside from owning the Sabres, they privately funded the construction of the newly opened HarborCenter, a $172 million downtown hockey and entertainment complex.

The Pegulas are valued at having a net worth of $4.6 billion.

Terry, who grew up in Pennsylvania and became a Sabres fan in the 1970s, made his fortune selling natural gas holdings. Kim grew up in nearby Rochester, and met Terry when he was living in Olean, about a 90-minute drive from Buffalo.

The two will work as co-owners with no clearly defined roles. Terry is more focused on the team, which is similar to his involvement with the Sabres. Kim will more focused on stadium amenities and improving fan experiences.

The partnership has another advantage, Terry said in noting that at 63 he is 15 years older than Kim.

"I'm older than her, and after what the city of Buffalo just went through with Ralph passing away, I think successor ownership is a nice thing to have," Terry said, noting he intends to have Kim eventually take over as owner.

That's a switch from Wilson, who had no plans of passing the team on to family members.

The Pegulas' next step is to continue improving the region's economy.

"I do think that as a responsibility of having the sports teams here in western New York is how are you going to fill up those seats? How are you going to get a stadium built?" Kim said. "All those things take a good healthy economy, and people with cash in their pockets to be able to spend on these types of things."
So no more Bills in Toronto in the foreseeable future.

It would be interesting if their playoff drought — that began just after Wilson's meddling (as somewhat recently came to light) to have Rob Johnson start at QB over Doug Flutie in the Music City Miracle — were to end immediately after he died.
Sports can be a peculiar thing. When partaking in fiction, like a book or movie, we adopt a "Willing Suspension of Disbelief" for enjoyment's sake. There's a similar force at work in sports: "Willing Suspension of Rationality". If you doubt this, listen to any conversation between rival team fans. You even see it among fans of the same team. Fans argue over who's the better QB or goalie, and selectively cite stats that support their views while ignoring those that don't.
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