Buffalo Sabres ownership situation

[Stoner]

Brawndo says he has heard that a minority interest in the team is up for grabs.

AP reported yesterday that the NHL OKed someone to contact TP about buying the team.

Part of the Bills is for sale.

Edited April 19 by PASabreFan

[_Q_]

Statement from Pegula said that no other sports teams are up for sale.

[Night Train]

It's interesting and worthy speculation that something is financially amiss concerning overruns, other finances and  health family issues.  We'll see where this goes. I get they own too much sports stuff they cannot manage. 

[Stoner]

3 minutes ago, _Q_ said:

Statement from Pegula said that no other sports teams are up for sale.

Sorry, it did not. It said "discussions" about the sale of a minority interest in the Bills involve the Bills and do not involve other teams. Well, duh. Another atrociously written release from the Pegula people.

[That Aud Smell]

20 minutes ago, PASabreFan said:

Sorry, it did not. It said "discussions" about the sale of a minority interest in the Bills involve the Bills and do not involve other teams. Well, duh. Another atrociously written release from the Pegula people.

Atrocious or ... clever and true? I sort of think the latter. They've got a fantastic lawyer in-house now. That guy is whip smart. I'm not being facetious in the least.

27 minutes ago, _Q_ said:

Statement from Pegula said that no other sports teams are up for sale.

That's not what the statement said.

Plus, we have Wawrow confirming that the NHL approved someone to approach the Pegulas (who were told "no").

Plus, @Brawndo has info indicating that a piece (??) of the Sabres can be had for the right price.

[inkman]

[Getpucksdeep]

Idk what his portfolio looks like. Is the fracking business entirely sold? If so and like 90% of the family's wealth is tied to NFL franchise value, I think I'd be looking to mix it up a little too.  The end isn't far away for the big man, and maybe this would allow him to give the kiddos each a big nut to work with on their own for their next 30-40 years.  If I'm his kid, I'd like that better than having it all tied to a group decision and complexities of the sports franchise (approvals, blah blah blah).

[nfreeman]

This is certainly an interesting development, although it's far from a validation of the random yobs on twitter the other day declaring that everything but the Bills was for sale.

My guess is that TP thinks the value of the Bills will continue to increase, and in the meantime he can take a big hunk of cash off the table and use it to fund stadium overruns so he doesn't have to come out of pocket for them.

He'll probably maintain control and the ability to pass it to his heirs.  If they decide to sell the rest though, the 25% owner will be by far the top contender.

 

[Big Guava]

5 hours ago, Getpucksdeep said:

Idk what his portfolio looks like. Is the fracking business entirely sold? If so and like 90% of the family's wealth is tied to NFL franchise value, I think I'd be looking to mix it up a little too.  The end isn't far away for the big man, and maybe this would allow him to give the kiddos each a big nut to work with on their own for their next 30-40 years.  If I'm his kid, I'd like that better than having it all tied to a group decision and complexities of the sports franchise (approvals, blah blah blah).

 

His net worth has gone up by 3 BILLION to over 7 BILLION now since he bought the Bills so, I think he is doing kinda alright.

3 hours ago, nfreeman said:

This is certainly an interesting development, although it's far from a validation of the random yobs on twitter the other day declaring that everything but the Bills was for sale.

My guess is that TP thinks the value of the Bills will continue to increase, and in the meantime he can take a big hunk of cash off the table and use it to fund stadium overruns so he doesn't have to come out of pocket for them.

He'll probably maintain control and the ability to pass it to his heirs.  If they decide to sell the rest though, the 25% owner will be by far the top contender.

 

Basically the guy gets to pay an arm and a leg to sit in a cool box and talk to some people but have no control of anything.

Wonder who will pony up about 750 mil for the right to do that?

[tom webster]

10 minutes ago, Big Guava said:

 

His net worth has gone up by 3 BILLION to over 7 BILLION now since he bought the Bills so, I think he is doing kinda alright.

Basically the guy gets to pay an arm and a leg to sit in a cool box and talk to some people but have no control of anything.

Wonder who will pony up about 750 mil for the right to do that?

Exactly, he’s able to turn equity into liquidity without going public. Only significant change will be when they show TPEGS on tv during the game it will say majority owner instead of owner. Maybe he will have to grant minority partner right of first refusal if he decides to sell majority share.

[nfreeman]

45 minutes ago, Big Guava said:

 

Basically the guy gets to pay an arm and a leg to sit in a cool box and talk to some people but have no control of anything.

Wonder who will pony up about 750 mil for the right to do that?

Good question.  I'll bet there will be a number of bidders.

[Stoner]

4 minutes ago, nfreeman said:

Good question.  I'll bet there will be a number of bidders.

I read that as I'll be there with a number of bidders.

[Malazan]

9 hours ago, Night Train said:

It's interesting and worthy speculation that something is financially amiss concerning overruns, other finances and  health family issues.  We'll see where this goes. I get they own too much sports stuff they cannot manage. 

I'd say it's much more likely that it's due to the NFL allowing private equity to own stakes in teams which will drive up the purchase price of teams.

[sabrefanday1]

No difference then anything else these days after COVID...rich are getting a lot richer and the rest of us are getting hammered by out-of-control inflation put in motion when COVID was a thing and big companies saw it as a chance to jack up everything. Since then everything has skyrocketed and guys like TP have seen their company's value rise significantly. I mean Arizona owner is getting a bundle for his crappy hockey team...clearly Bills and Sabres are worth billions and that goes up every day. Not convinced TP is in any hurry to sell anything   

Edited April 20 by sabrefanday1

[That Aud Smell]

39 minutes ago, sabrefanday1 said:

No difference then anything else these days after COVID...rich are getting a lot richer and the rest of us are getting hammered by out-of-control inflation put in motion when COVID was a thing and big companies saw it as a chance to jack up everything. Since then everything has skyrocketed and guys like TP have seen their company's value rise significantly. I mean Arizona owner is getting a bundle for his crappy hockey team...clearly Bills and Sabres are worth billions and that goes up every day. 

Pro sports might be a bubble? Think about how out of reach attendance is at an average hockey game for a family of 4. How onerous PSL’s are. At some point, the economics could fail.

[#freejame]

1 minute ago, That Aud Smell said:

Pro sports might be a bubble? Think about how out of reach attendance is at an average hockey game for a family of 4. How onerous PSL’s are. At some point, the economics could fail.

My guess is we will continue to see venue size shrink, suite and premier seats increase, sportsbooks taking root in stadiums and arenas, sales and relocations involving private equity money outpacing any realistic forecast of worth, and more and more fans telling you how it’s better to just watch at home in front of their 70” screens.

 

[Wyldnwoody44]

42 minutes ago, #freejame said:

My guess is we will continue to see venue size shrink, suite and premier seats increase, sportsbooks taking root in stadiums and arenas, sales and relocations involving private equity money outpacing any realistic forecast of worth, and more and more fans telling you how it’s better to just watch at home in front of their 70” screens.

 

It IS better. No traffic, drunk @ssholes, outrageous prices, chance of a DWI/injury. Then there's the weather. It doesn't have the appeal anymore and I consider myself pretty adventurous lol 

[JustOneParade]

This is a bigger issue for the NHL than for the NFL. The former derives more revenue based on attendance, the NFL from television contracts. But to @That Aud Smell’s point, there is an inherent, and not insignificant, risk in concentrating the sources of revenue.

[That Aud Smell]

1 hour ago, Wyldnwoody44 said:

It IS better. No traffic, drunk @ssholes, outrageous prices, chance of a DWI/injury. Then there's the weather. It doesn't have the appeal anymore and I consider myself pretty adventurous lol 

All fair points, but … this isn’t binary. 

I’ve been a Bills STH for a while now. There is something transcendent about being in a stadium and joining in a stretch of cheering delirium. Fandemonium, as Van called it.

I said it at the time and I’ll say it forever more: The wildcard round when the Bills demolished the Patriots was the happiest I need to be, probably the happiest I can be over a sporting outcome. I was crying at times — with the tears freezing fast to my face. When the Bills win the Super Bowl, I’ll be in a more static environment. It won’t, can’t be the same. I don’t think it’ll even be as delightful. We’ll see.

Whether we’re ooohing and ahhhing over a Josh Allen odds defying scramble or wooping and 🤘 ing at an Eddie Van Halen run of hammer technique arpeggios (RIP), that element of human connection (what some religious call “communion”) adds something unique to and amplifies the enjoyment of the amazing thing we’re experiencing.

[Pimlach]

2 hours ago, #freejame said:

My guess is we will continue to see venue size shrink, suite and premier seats increase, sportsbooks taking root in stadiums and arenas, sales and relocations involving private equity money outpacing any realistic forecast of worth, and more and more fans telling you how it’s better to just watch at home in front of their 70” screens.

 

So, all the things we loved about attending professional sports as kids are gone, ruined because of greed.  
 

 

 

[JohnC]

15 hours ago, nfreeman said:

This is certainly an interesting development, although it's far from a validation of the random yobs on twitter the other day declaring that everything but the Bills was for sale.

My guess is that TP thinks the value of the Bills will continue to increase, and in the meantime he can take a big hunk of cash off the table and use it to fund stadium overruns so he doesn't have to come out of pocket for them.

He'll probably maintain control and the ability to pass it to his heirs.  If they decide to sell the rest though, the 25% owner will be by far the top contender.

 

You make a good point that selling a fraction of the team to a minority owner would help to finance the new stadium. If you include the PSL $$$ to a small selloff of his team, much of the financing he was responsible for would be taken care of. 

[spndnchz]

Sell a part, with the right agreements, build new place, buy it back. The whole estate thing is a non-issue now and/or after.  

[Mango]

22 hours ago, _Q_ said:

Statement from Pegula said that no other sports teams are up for sale.

In the last 7.5 moths Pegula told Rochester that

- Dissolving PSE would be a change in name only and wouldn't effect the operation of BCA. (August 28,2023)
- Backing out of the lease didn't have anything to do with his commitment to Rochester. Both teams would be staying. (April 2, 2023)
- He is selling the Knighthawks but only because he doesn't want 2 NLL teams so close to each other (April 18, 2024)

Based on that it seems like the Buffalo Sabres are very likely open to hearing offers. 

Edited April 20 by Mango

[Derrico]

5 hours ago, That Aud Smell said:

All fair points, but … this isn’t binary. 

I’ve been a Bills STH for a while now. There is something transcendent about being in a stadium and joining in a stretch of cheering delirium. Fandemonium, as Van called it.

I said it at the time and I’ll say it forever more: The wildcard round when the Bills demolished the Patriots was the happiest I need to be, probably the happiest I can be over a sporting outcome. I was crying at times — with the tears freezing fast to my face. When the Bills win the Super Bowl, I’ll be in a more static environment. It won’t, can’t be the same. I don’t think it’ll even be as delightful. We’ll see.

Whether we’re ooohing and ahhhing over a Josh Allen odds defying scramble or wooping and 🤘 ing at an Eddie Van Halen run of hammer technique arpeggios (RIP), that element of human connection (what some religious call “communion”) adds something unique to and amplifies the enjoyment of the amazing thing we’re experiencing.

This.  Live sports is such a unique experience you can’t get sitting in front of the 70’’ tv. Getting to be stupid expensive unfortunately but I love the feeling Aud describes above.  I just keep hoping the Sabres finally give us the experiences the bills finally produced the last few years. 

[bg17]

3 hours ago, Mango said:

In the last 7.5 moths Pegula told Rochester that

- Dissolving PSE would be a change in name only and wouldn't effect the operation of BCA. (August 28,2023)
- Backing out of the lease didn't have anything to do with his commitment to Rochester. Both teams would be staying. (April 2, 2023)
- He is selling the Knighthawks but only because he doesn't want 2 NLL teams so close to each other (April 18, 2024)

Based on that it seems like the Buffalo Sabres are very likely open to hearing offers. 

Can you provide any backup for the Knighthawks claim?