News Article: Forbes lists Pegula as 8th richest owner in American sports
- Thread starter Djp
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So 3rd richest owner whims Kroenke who owns half of he sporting world and anschutz who owns an LA based team?
Dope.
Dope.
jamers
bleep bop bloop
- Sep 17, 2011
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I believe he means that among NHL owners, Pegula is 3rd richest, and that he's no slouch to be behind the owner of a LA-based franchise and a sports conglomerate. Also, I believe the word 'dope' was used as a positive expression.
MayDay
Registered User
Stan Kroenke doesn't own the Avs and Nuggets because of NFL ownership restrictions against owning sports teams in different markets.
IIRC, he transferred control and ownership stakes of the Avs and Nuggets to his son so that he could buy the Rams. Stan Kroenke no longer owns or controls those other two teams.
Beerz
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Yup.
In 2010, Kroenke exercised his right of first refusal to buy the remaining interest in the St. Louis Rams from the estate of late owner Georgia Frontiere. On August 25, 2010, he became full owner of the Rams by unanimous consent of the NFL. To gain approval from NFL owners, Kroenke agreed to turn over control of the Denver Nuggets and Colorado Avalanche to his son, Josh, by the end of 2010, and he must give up his majority stake in both teams by December 2014. The NFL does not allow its owners to hold majority control of major league teams in other NFL markets
1point21Gigawatts
hell's a gigawatt?
What was Tpegs worth when he bought the team in 2011? Looks like he has roughly a billion more now, then he did when he bought the team. Pretty amazing considering what he has coughed up in construction and the Bills. Dude is going to be a permanent fixture in Buffalo.
He sold some land for about a billion shortly before he bought the Bills. That likely had an impact.
Paxon
202* Stanley Cup Champions
That was my first thought but I'm sure the figure is net worth, not cash. Given the vast wealth he had and what I believe is a boom in Pennsylvania with the natural gas industry (with lots of tax breaks, etc), it's possible his net worth simply jumped that much.
Djp
Registered User
land value and mineral rights values are hard to estimate in terms of worth.
Djp
Registered User
I was just posting the article.
The NFL has a noncompete clause in ownershipthat prevents an owner of other sports teams in NFL markets to buy an NFL team in a different market.
Paul allen can own Seattle Seahawks and the Portland Trailblazzers because Portland isnt an NFL market
Thats why Jacobs couldnt be involved in the bidding of the Bills but was willing to be part of a stadium.
With Kroenke he transfered ownership of his Denver sports teams to his children.
La Cosa Nostra
Caporegime
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Is this taking into account the 1.4 bil he has to spend to buy the Bills? Either way he's loaded.
Paxon
202* Stanley Cup Champions
He hasn't spent it yet, but when he does the Bills will be part of his net worth
Zman5778
Moderator
And to think that just a few short years ago, the only ones that even knew who he was were likely affiliated with Penn State.
(full disclosure: I work for Penn State and when I started, I had no idea who Pegula was)
whims was me trying to say behind but going full derp and dope is like, good or awesome.
Clock
Registered User
- May 13, 2006
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Completely admit that I fall into that group.
The combination of a guy who
- has lots of money
- is clearly interested in investing in not only the teams, but also the area
- is clearly into the teams for the purpose of winning instead of as a revenue-earner
- has clearly learned some lessons and is on board with maximizing potential for establishing longer-term success at the expense of short-term mediocrity
... is all ducky to me. I don't care about the perceived follies he's made so far. The direction changed fast enough that I'm good.
Zman5778
Moderator
I didn't think that person existed until Pegula came on board. I figured we'd be stuck with a penny-pinching Sabres owner indefinitely and then eventually lose the Bills.
I've said it before and I'll say it again -- I've never been prouder of being a Buffalo sports fan than right now. And that's mainly because I know Pegula is going to do things the right way.....we'll get there.
This is why I am near shocked when people say anything short of praise for the guy. I get that he is culpable for the Sabres front office, for every negative thing you can say, I can just point to the harbor center and say "He built that. Just to help the city"
Then he not only BUYS the bills, but overpays for them to end any chance of him NOT getting them.
If you told me in 2009 that some magical billionaire was going to descend onto the city of Buffalo and solve all of their present and future financial problems of both sports teams by the virtue of him being rich as ****, i would have outright laughed. Not only that, but he was going to dump buckets of cash into redeveloping downtown Buffalo just because he wants to. Again, would have laughed.
Guy is the ****ing tooth fairy. Sure he's made some rookie mistakes, but man, he ****ing cares about the city and its fans and wants to win at all costs. That is alot more that could be said of our previous 2 (3! if you count the NHL) owners.
Clock
Registered User
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Beerz
Registered User
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While it's nice to think that Pegula purchased the Bills out of love for Buffalo and football .... the NFL is his new "gas well" that he's drilling ..
http://www.cbssports.com/nfl/eye-on...deal-reportedly-worth-12-billion-over-8-years
http://www.cbssports.com/nfl/eye-on...deal-reportedly-worth-12-billion-over-8-years
joshjull
Registered User
Beerz
Registered User
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sba
....
It's kind of amazing that if you told someone 10 years ago that there was some super rich dude out there who was going to come out of nowhere and buy both teams and try to rebuild downtown all on his own, you'd probably be in a home somewhere.
