buffalo bills franchise value
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Buffalo Bills Franchise Value

Under the ownership of Terry and Kim Pegula since 2014, the Buffalo Bills franchise value has more than doubled it’s purchase price. This in-depth look examines the history of the franchise’s ownership, the Pegulas’ background, the financial drivers behind the team’s rising valuation, and the impact of the newly renovated Highmark Blue Cross & Blue Shield Stadium.

Buffalo Bills Team Value : $3.7 Billion 

  • Owners: Terrence & Kim Pegula
  • Championships: 0
  • Year Purchased: 2014
  • Price Paid: $1.4 Billion
  • Revenue: $503 Million 
  • Operating Income: $119 Million
  • Player Expenses: $219 Million
  • Gate Receipts: $68 Million
  • Revenue Per Fan: $94


Brief History of Franchise Ownership

The Buffalo Bills were founded in 1960 as an original team in the American Football League (AFL). Ralph Wilson Jr. was the founder and owned the Bills for over 50 years until his death in 2014 at age 95.

In 2014, Terry and Kim Pegula purchased the Bills franchise from the Wilson trust for $1.4 billion. This set a record price for an NFL team at that time.

More About Kim & Terrance Pegula

Terrence Pegula made his fortune in the natural gas industry, amassing a net worth over $7 billion. He founded East Resources, which he later sold to Royal Dutch Shell for $4.7 billion in 2010.

Along with his wife Kim, the Pegulas became owners of both the Bills NFL team and the Buffalo Sabres NHL hockey team, which they had purchased in 2011. The Pegulas stated their commitment to keeping the Bills and Sabres in Buffalo long-term.

The Pegulas have other business interests including a mortgage company, entertainment company, and real estate holdings. Kim Pegula served as president of their Pegula Sports and Entertainment company until suffering an incapacitating cardiac arrest in 2022.

How Much are the Buffalo Bills Worth?

Per the valuation by Forbes, the Buffalo Bills franchise is worth an estimated $3.7 billion. This makes the Bills the 30th most valuable team in the NFL.

Some key financial metrics and drivers of the Bills’ $3.7 billion franchise valuation:

  • Low debt at just 11% of franchise value
  • Metro area population of 1.2 million
  • TV/media partners include WIVB-TV and WGR radio

Under the Pegula ownership since 2014, the Bills’ franchise value has more than doubled from the $1.4 billion purchase price as revenues and the overall NFL’s media deals have grown.

Highmark Blue Cross & Blue Shield Stadium

Originally opened in 1973 as Rich Stadium, the Bills’ home venue went through several name changes over the years. It was called Ralph Wilson Stadium from 1998-2015 to honor the team’s original owner.

The stadium had corporate naming rights deals with New Era Cap Company from 2016-2020, and was temporarily called Bills Stadium in 2020.

In March 2021, the Bills reached a new 10-year naming rights agreement with Highmark Blue Cross Blue Shield of Western New York. The stadium has been called Highmark Stadium since then.

In addition to the new naming rights deal, the Bills and public partners announced a $1.4 billion renovation project for Highmark Stadium. Plans include increased seating capacity, new outdoor plaza, improved amenities, and other significant upgrades to modernize the aging facility through at least 2033.

The extensive renovations should help the Bills remain competitive with the latest generation of NFL stadiums and continue supporting the franchise’s rising valuation under the Pegula ownership.

In summary, the Buffalo Bills have seen a tremendous increase in franchise value since being purchased by Terry and Kim Pegula in 2014 for $1.4 billion. Now valued at $3.7 billion by Forbes’ August 2023 estimate, the Bills rank among the NFL’s most valuable teams. Key drivers of this valuation include the new era of ownership, rising revenues, valuable media contracts, consistent fan support, the new Highmark naming rights deal, and extensive $1.4 billion in planned stadium renovations.