Buffalo Sabres owner Terry Pegula and his wife, Kim, are set to become the new owner of the Buffalo Bills, per reports issued today by WGRZ and EPSN.
ESPN's Adam Schefter reported the Pegulas have a tentative agreement to buy the Bills. WGRZ Sports Director Adam Benigni said he has two sources indicating the Bills reached an agreement with the Pegulas.
Both media outlets said the next step is for the new owners to gain approval from late owner Ralph Wilson's estate, and then from the NFL. This sale is expected to be finalized in the next few weeks.
WGRZ referenced a CBS Sports report, which estimated price tag for the Bills at between $1.1 and $1.4 billion.
The Pegulas beat out two other groups submitting bids to purchase the Bills: one led by celebrity real estate developer and TV personality Donald Trump, and a second submitted by a Toronto group partnering with rock 'n' roll legend Jon Bon Jovi.
Terry and Kim have vowed to keep the Bills in Western New York.
Congressman Brian Higgins released the following statement in response to these reports:
"Western New York is cheering the news that Terry and Kim Pegula will be the next owners of the Buffalo Bills," he said. "The Pegulas have been the clear fan-favorite to carry the ball, following the distinguished 55-year tenure of the franchise founder Wilson family. The Pegulas' genuine love for this community is palpable. With their waterfront investment in HARBORCENTER, Terry and Kim Pegula have been a part of remaking Buffalo. We welcome their leadership contributing to continued momentum driving pride in our teams and in our community."
Congressman Chris Collins applauded the Pegulas.
"I want to extend my congratulations to the Pegula family on their tentative agreement to purchase the Buffalo Bills," he said. "I know the Pegulas will continue the proud legacy the Wilson family established, and will ensure that our beloved Buffalo Bills remain in Western New York. The Buffalo Bills are a proud symbol of the incredible spirit and people that live in our region. With the leadership of the Pegula family, the Buffalo Bills and our entire region are back in the winning column. Go Bills - and 'Squish the Fish.' "