Buffalo Bills Stay in Buffalo, Thanks to $1.4B of Marcellus Money

For some time we've followed, with interest, the story of the sale of the Buffalo Bills NFL football team (see Fascinating Connection Between NFL & Marcellus/Utica). East Resources--an oil & gas driller with extensive holdings in the Marcellus--is owned by Terry Pegula. Terry sold much of his Marcellus holdings in 2010 to Shell/SWEPI for $4.7 billion. He later purchased the Buffalo Sabres NHL hockey team. Not long ago he sold off more (the rest?) of his Marcellus and Utica acreage to Aubrey McClendon for $1.75 billion (see Aubrey McClendon’s Money Makes Purchase of Buffalo Bills Possible). Terry has, according to "sources" of Buffalo Business First, won the bidding contest for the Bills. The price? Uncoincidentally, $1.4 billion--the highest price paid for any NFL franchise in the history of the league...

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