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"It’s worth noting, however, that no court in recent history has stopped a major league team from moving to another city.
Six franchises in the NFL alone have changed cities since 1982. The league sued in an effort to stop the Raiders from leaving Oakland in 1982 and St. Louis sued the Rams in 2017 in an effort to keep the team. Both cities lost their teams."
I also think with Kim being sick, he might want to downsize. He did pretty well with the Bills, so I think the fans wouldn't hold it against him if he sells the whole team. It's a pretty good time to make a move like this.
He could then concentrate on making the Sabres a winning team. We'll see.
I also think with Kim being sick, he might want to downsize. He did pretty well with the Bills, so I think the fans wouldn't hold it against him if he sells the whole team. It's a pretty good time to make a move like this.
He could then concentrate on making the Sabres a winning team. We'll see.
I think with Kim being sick, it changed the whole dynamic. Buffalo should be happy he saved the Bills and whatever the future holds, I wish them the best.
You guys are talking like he's selling 100% of the team, not 25%. There's a good article in Sunday's edition of the Buffalo News that details why he might be motivated to sell a piece of the team--mostly, liquid cash. Valuation of the team is up thanks to the new stadium deal and leaguewide skyrocketing franchise valuations. Might as well cash out a bit
"There are plenty of reasons for any NFL owner who holds 100 percent of the equity of an NFL team to sell a chunk of it. For Bills owner Terry Pegula, there’s one specific reason others don’t currently have.
Pegula is on the hook for cost overruns at the team’s new stadium. As noted over the weekend by the Buffalo News, the $1.4 billion project could end up costing $2 billion. That $600 million would come from the Bills.
Selling 25 percent of the team would easily raise that amount. With teams now going for more than $6 billion, selling a fourth would generate $1.5 billion.
Of course, it will be difficult for Pegula to get market-level valuation without also giving his new partner a path to control. That’s the unanswered question, for now. Is this simply an effort to claw back the original purchase price of $1.7 billion while still holding 75 percent of the team, or is Pegula laying the foundation to eventually make his exit? Or both?
If it’s the latter, he’ll get more for the chunk of the team he’s looking to sell. If it’s the former, he could be one of the first owners to welcome a private equity fund as a partner, if the NFL changes the rules to allow such investments in the near future."
"There are plenty of reasons for any NFL owner who holds 100 percent of the equity of an NFL team to sell a chunk of it. For Bills owner Terry Pegula, there’s one specific reason others don’t currently have.
Pegula is on the hook for cost overruns at the team’s new stadium. As noted over the weekend by the Buffalo News, the $1.4 billion project could end up costing $2 billion. That $600 million would come from the Bills.
Selling 25 percent of the team would easily raise that amount. With teams now going for more than $6 billion, selling a fourth would generate $1.5 billion.
Of course, it will be difficult for Pegula to get market-level valuation without also giving his new partner a path to control. That’s the unanswered question, for now. Is this simply an effort to claw back the original purchase price of $1.7 billion while still holding 75 percent of the team, or is Pegula laying the foundation to eventually make his exit? Or both?
If it’s the latter, he’ll get more for the chunk of the team he’s looking to sell. If it’s the former, he could be one of the first owners to welcome a private equity fund as a partner, if the NFL changes the rules to allow such investments in the near future."
Somewhere down the line, capital gains taxes will kick in also. Not sure if this happens until it reaches the original investment.
I think values will all skyrock if they let investment firms buy in.
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‘Weak’ relocation clause in Bills’ lease
