Who Owns the Buffalo Bills? – Buffalo Bills Ownership
The Buffalo Bills have a rich history dating back to their establishment in 1960 with the NFL. As with any iconic sports franchise, understanding its ownership is crucial for fans and enthusiasts alike.
Let’s discuss who owns the Buffalo Bills, what exactly are the Bills worth, and a bit of information on the previous owner.
The Buffalo Bills are currently owned by Terry Pegula and his wife, Kim Pegula. They acquired the team in 2014, becoming the first husband and wife duo to own an NFL franchise.
Owners of the Buffalo Bills ( Who Owns The Buffalo Bills )
Terry Pegula
Terry Pegula graduated from Penn State University with a degree in petroleum and gas engineering before going on to found East Resources, a gas drilling company back. in 1983. The company discovered deep layers of gas leading to selling profitable sections of the company to Royal Dutch Shell and American Energy Partners. The deal was reportedly worth a total of $6.5 billion.
With a notable background in the energy industry, Pegula’s success translated into sports ownership when he acquired the Buffalo Sabres in 2011 when he purchased Hockey Western New York LLC. The holding company owns The Buffalo Sabres and Buffalo Bandits.
His net worth, a testament to his business acumen, positioned him as a key player in the sports ownership arena. Pegula, before becoming principal owner of the Buffalo Bills, had developed a strong reputation for his dealings in Western New York for years.
In 2014 , after the passing of Ralph Wilson, former owner, Pegula’s winning $1.4 billion bid for the Bills was received well by fans and insiders.
Terry Pegula extended his sports empire by acquiring the Buffalo Bills, a move that not only solidified his presence in the NFL but also marked a historic moment as he and his wife became the first husband and wife duo to own an NFL franchise.
Kim Pegula
Kim Pegula, Terry’s wife, is not merely a co-owner but an integral part of the Buffalo Bills’ ownership team. Beyond her role as the co-owner of the Bills, Kim previously served as the president of Pegula Sports and Entertainment (PSE), a position that encompassed oversight of both the Bills and the Sabres.
Her rise to prominence, as a woman in sports, is quite impressive and inspiring. Her story begins with her parents leaving her on the front steps of a police station as an infant. She was later adopted by a family based in a suburb of Rochester, New York.
Kim Pegula’s influence, as one half of “who owns the buffalo bills” extends beyond the boardroom, as she played a significant role in conceptualizing and implementing the “One Buffalo” marketing campaign, fostering unity and community spirit among Buffalo sports fans.
How Much Are the Buffalo Bills Worth?
Kim and Terry Pegula paid out $1.4 billion ten years ago for the team raising the value of the company exponentially. Overall revenue is sitting at $503 million with $94 revenue per fan and $119 million operating income. Cash crunch issues have been reportedly recently with the financing behind the new stadium and its rising cost from $1.4 billion to possibly $1.9 billion upon completion.
The Buffalo Bills are reportedly worth $3.7 billion according to Forbes.
