QUICK LINKS:

Bills bidder Pegula closes on $1.75 billion deal

Created: 08/06/2014 6:27 AM WHEC.com
By: Associated Press

Terry Pegula's bottom line has received a big bump in his bid to purchase the Buffalo Bills.
    
The Buffalo Sabres owner closed on a $1.75 billion deal to sell the drilling rights on about 75,000 acres of land in Ohio and West Virginia to American Energy on Tuesday. The sale was announced by American Energy and in a release issued by PR Newswire.
    
The agreement between Pegula's East Resources Inc. and Oklahoma-based American Energy was first reached in June.
    
The sale comes at a time when Pegula and wife Kim are among several prospective ownership groups that have submitted initial, non-binding bids to buy the Bills. The team is for sale after owner Ralph Wilson died in March.
    
Pegula's net worth was last estimated by Forbes to be $3.3 billion.





News10NBC/WHEC-TV welcomes your opinion and interaction on our website, but please remember to keep it clean. If you're advertising for another business, being profane, vulgar or slanderous your post will be deleted. By commenting on this website, you agree that anything you post may be used, along with your name and profile picture, in accordance with our Privacy Policy and the license you have granted pursuant to our Terms of Use. Comments are not pre-screened before they posted.

Rochester

Scattered Clouds
42°
50° | 39°
  • Feels like: 37° F
  • Wind: W 8mph
  • Humidity: 82%
  • Fri Showers possible in the afternoon
    48° | 36°
  • Sat Showers
    39° | 32°
  • Sun Mostly sunny
    43° | 29°
  • Mon A few clouds
    54° | 34°