There are a handful of groups looking to purchase the Buffalo Bills, though one of the most serious suitors took a rather interesting step recently when Terry Pegula sold upwards of $1.75 billion dollars worth of real estate to free up cash.
What in the world would he need $1.75 billion dollars for? Sure, he could potentially throw it behind another real estate investment but maybe he’s preparing himself to bid on the franchise when it goes up or sale? That’s simply speculation at this point, though the extraction of cash certainly has a lot of heads turning as to the next step.
We still don’t know if Terry Pegula is interested in buying the Buffalo Bills.
But any doubts about Pegula having the wherewithal to pull it off probably evaporated Monday.
Pegula’s liquidity is flowing strong after his East Resources Inc. and at least one other undisclosed company sold 75,000 acres of Utica and Marcellus Shale leases in West Virginia and Ohio for $1.75 billion.
“This does make him a much more formidable bidder if he chooses to move forward,” a sports acquisitions expert told The Buffalo News on the condition of anonymity.
In addition to Pegula, more well known names like Donald Trump and Jon Bon Jovi have emerged as potential buyers of the franchise, though in recent weeks rumors have suggested a few possible bidders have scaled back interest over the alleged difficulty of relocating the franchise.
What’s to come of the funds secured by Pegula is unknown, though, it’s certainly making for fine water cooler talk in update New York.
Tags: Buffalo Bills