[Senator Clay Davis]

Buck Fon Jovi

Terry and Kim Pegula have struck a tentative deal to purchase the Buffalo Bills, and an official announcement should be made today, The Buffalo News has learned.

Two sources involved in the sales process informed The News the Pegulas have outdistanced every other suitor.

“Done deal,” one source said this morning in a text to The News.

The NFL’s owners must approve the sale, which is expected. Their next scheduled meeting is Oct. 7 and 8 in Manhattan.

The purchase price is believed to be in the neighborhood of $1 billion.

Binding bids were submitted Monday to Morgan Stanley, the financial advisers representing Ralph C. Wilson’s trust.

Runners-up include billionaire developer Donald Trump and a group fronted by rock star Jon Bon Jovi with financial backing from Maple Leaf Sports and Entertainment Chairman Larry Tanenbaum and Rogers Communications heir Edward Rogers III.

http://bills.buffalonews.com/2014/09...buffalo-bills/