Bills Sale Approved

NEW YORK (AP) — NFL owners have unanimously approved the sale of the Buffalo Bills to Terry and Kim Pegula.

The husband and wife already own the NHL's Buffalo Sabres. Longtime Bills owner Ralph Wilson died in March, prompting the sale.

The Pegulas offered $1.4 billion to buy the NFL franchise. Buffalo sports fans were concerned the team could be moved out of state if purchased by another group.

Kim Pegula is expected to have a high-ranking role with the Bills, working alongside current team president Russ Brandon.

Terry Pegula has a net worth valued of over $3.5 billion, and made his fortune in the natural gas industry. In 2010, he completed a deal to sell a large portion of his company East Resources' assets for $4.7 billion to Royal Dutch Shell.

Governor Andrew Cuomo issued the following statement of the Bill's sale

“With this morning’s unanimous approval by the NFL Owners, Terry and Kim Pegula’s purchase of the Buffalo Bills has cleared one of its last hurdles, and Bills fans everywhere can rest assured that the team is owned by a couple who is truly committed to Western New York. I offer my congratulations to the Pegulas – they have made a sound investment in one of the most vibrant aspects of the Empire State, and I gladly join them and all New Yorkers in cheering the Bills to victory this season and for many seasons to come. Go Bills!”