Sources: Pegulas buying Bills from Wilson trust for $1.4B

BUFFALO, N.Y. (WIVB) – The Buffalo Bills confirmed Tuesday a deal has been reached between the Wilson trust and Terry and Kim Pegula for the sale of the team, pending approval by the NFL owners.

Kelly Pegula, Terry and Kim’s daughter, sent a tweet on Tuesday saying, “I started crying when I found out last night. My dad goes, “You’re crying and I’m broke!” Thanks to everyone for the support… means a lot to my whole family. So proud of my dad.”

In a release, Mary Wilson, wife of former Bills owner, the late Ralph Wilson, said, “This is a very important day in the history of the Buffalo Bills franchise. Ralph brought professional football to Buffalo in 1959 and it was his life’s passion. He loved his team and he cherished the fans and his legacy will remain for all-time. Ralph would have been pleased with the sale of the team to the Terry Pegula family, who has been so committed to Buffalo and the Western New York region.”

Mary Wilson wished the Pegulas all the best and said she hopes they “bring home a Super Bowl championship for Bills fans everywhere.”

Before the deal goes to the owners for approval, the NFL Finance Committee will see the bid and establish that Pegula has the money to buy the team. It’s expected this deal will go through with no problem. The Bills say the Pegula family will acquire all of the interest in the Buffalo Bills franchise from the Wilson trust and submit the bid to the owners at their meeting in New York City on October 8.

In a release from the Pegula famly, Terry wrote, “Kim and I are humbled and honored that the Wilson family has chosen us to be the second owner of the Buffalo Bills. Pending the NFL approval process, being the next owner of the Buffalo Bills would be a great privilege for our family. Ralph Wilson left an indelible mark on our community and we will strive every day to honor his legacy.”

“Our interest in owning the Bills has everything to do with the people of Western New York and our passion for football. We have knowledgeable, dedicated fans here and along with our ownership of the Buffalo Sabres, it is gratifying to reassure these great fans that two franchises so important to our region are both here to stay.”

The Pegulas thanked a number of people for their help, including Senator Chuck Schumer and Governor Andrew Cuomo for their support and desire to keep our Bills in Western New York “where they belong,” as well as their team of professional advisors at Allen & Company and Sherrard, German & Kelly.

Pegula said, “If awarded final approval, we will be driven to achieve a singular goal: To win a Super Bowl for our fans.”

Sources tell News 4’s Lauren Brill the Pegulas are buying the Bills for a record-breaking $1.4 billion. The franchise was last valued by Forbes to be worth $935 million.

Kelly Pegula, Terry and Kim’s daughter, sent a tweet on Tuesday saying, “I started crying when I found out last night. My dad goes, “You’re crying and I’m broke!” Thanks to everyone for the support… means a lot to my whole family. So proud of my dad.”

The Pegula family was overwhelmingly the fan favorite for the team’s ownership. Jon Bon Jovi with a group from Toronto and Donald Trump also reportedly made bids on the team.

“In Terry we trust, that says it all. We trust Terry Pegula and Kim Pegula, we don’t trust the others,” said James Migliore, the founder of In Terry We Trust.

The grassroots effort let everyone know, Buffalo wanted the Pegulas for the Bills.

Terry Pegula

Terry Pegula bought the Buffalo Sabres on February 22, 2011. The die-hard Sabres fan made big changes to the Sabres organization and the area around the First Niagara Center. Since Pegula took over, he brought in Sabres President Ted Black, General Manager Tim Murray and Head Coach Ted Nolan.

PHOTOS | Pegula family’s history since owning the Buffalo Sabres

Pegula’s influence stretched outside of the hockey arena and onto the Webster Block. Pegula revealed his vision for HARBORcenter, a mixed-use facility that will feature hockey rinks, retail space, a restaurant and hotel. That is now in the process of being built.

East Resources, Inc., the company Pegula founded, recently sold some of its holdings to American Energy affiliates – a transaction that totaled $1.75 billion. Before the sale, Forbes pegged Pegula’s net worth at $3.3 billion.

NFL rules prohibit owners from running teams in other leagues. However, the exception to that rule is if both teams play in the same market. Therefore Pegula can own both the Sabres and the Bills. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review. Note: Comments containing links are not allowed.

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