Buffalo Sabres owners Terry and Kim Pegula are moving and shaking their way around Buffalo and the Niagara Frontier these day. Their HARBORCenter project has become the focal point of the dramatic face lift that has been bestowed upon Buffalo's skyline. The multi-million dollar blueprint turned reality project will feature a beautiful hotel, new ice rinks, additional parking, a ginormous sports bar, and a Tim Horton's Café and Bake Shop. The Pegulas have become serious agents of change in Buffalo. It as if they are blessed with the Midas Touch. Everything they touch seemingly turns to Blue & Gold.
Late Thursday afternoon, Business First Buffalo reported that Pegula Sports and Entertainment will lease nearly all of the 31st floor of Buffalo's prestigious One Seneca Tower. Its said to be a one-year lease deal.
Created by Terry Pegula, PSE will occupy approximately 20,000 square feet of the 31st floor in Buffalo’s tallest office building. Buffalonians know the address as One HSBC Center.
The 850,000 square foot tower is directly adjacent to the HARBORCenter project and First Niagara Center. The building is presently enveloped in the foreclosure process. Its anchor tenants HSBC Bank and Phillips Lytle have since vacated the property.
One wonders if this deal lends credibility to the rumors that Pegula is in fact a serious candidate to purchase the NFL Buffalo Bills. The Pegulas have expressed a desire to lend their support to keeping the Bills in Buffalo ever since team founder and owner Ralph Wilson passed away recently. Of all of the bidders who have expressed an interest in purchasing the Bills, Pegula is the lone billionaire who has the financial cash assets and wherewithal to do the deal by himself. In other words, Pegula won't need partners to kick in money in order to purchase the Bills. If he were so inclined. Pegula could write the check today for the billion'ish dollar transaction. Jon Bon Jovi, Donald Trump and other suitors cannot go it alone on a Bills deal. They would require outside financing help and support.
The Bon Jovi group has not said so publicly, however, its likely that they would relocate the team to Toronto. On Thursday, Erie County Executive Mark Poloncarz told the Jon Wawrow of the AP that he has no doubt the group's intentions are to move the Bills to Toronto.
"It is my personal opinion that any bid associated with the Toronto group has a long-term interest in moving the team to Toronto," Poloncarz said, while attending Bills training camp in suburban Rochester, New York.
The Bills most recently were valued by Forbes at $870 million. They are projected to be sold for at least $1 billion, if not more. Pedula's net worth is said to be north of $4 billion at this juncture, which makes him the odd-on favorite to be the front runner for the Buffalo Bills ownership opportunity.
Tuesday July 29 is when prospective bidders. including Pegula and Bon Jovi, must submit to Morgan Stanley their " first letter of indication," which includes their initial and non-binding bid to purchase the team, according the AP. At that time, Morgan Stanley will review all bids and determine which prospective groups will be eligible to proceed to the next stage of bidding.
The list of remaining ownership groups that will be given the green light to proceed in the process likely will be identified by the end of next week. Those groups will then be granted further access to the Bills financial date to better determine their bid.
Were Pegula to buy the Bills, he'd no doubt keep it anchored in Buffalo.
Much more to come.
Pegula. Agent of change.
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Yow down with JST? Yeah, you know me.
Tim Murray wanted to add size, snarl, skill, and character this his first summer as GM of the Buffalo Sabres. He found his man in Jordan Samuel-Thomas, who will play the big man's game in Rochester and Buffalo this season.
Murray traded with Winnipeg for JST earlier this month. Murray quickly signed him to his first pro contract shortly thereafter. He told WTNH that he can’t wait to get on the ice with huis Amerks and Sabres mates.
“Life now is awesome for me,” Samuels-Thomas said. “I couldn’t be more excited to get my start with Buffalo. I had a great three years at Quinnipiac with coach Peckald, Cashman and Rigga and I’m just excited to get started and live my dream.”
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