In this April 13, 2013, file photo, Buffalo Sabres’ owner Terry Pegula and his wife, Kim Pegula, pose for cameras during groundbreaking ceremonies at First Niagara Center in Buffalo, N.Y.ORCHARD PARK, N.Y. – A person with direct knowledge of the sale process has confirmed to The Associated Press that Buffalo Sabres owners Terry and Kim Pegula submitted an NFL-record $1.4 billion bid in reaching a tentative agreement to buy the Buffalo Bills.
The person spoke on the condition of anonymity Tuesday because the Pegulas’ formal bid was not made public.
Sports Business Journal first reported the Pegulas’ bid earlier in the day.
The price was revealed hours after late owner Ralph Wilson’s estate announced it had reached “a definitive agreement” to sell the Bills to the Pegulas.
The price eclipses the previous high of $1.1 billion set in 2009, when Stephen Ross completed his purchase of the Miami Dolphins.
The Bills sale is subject NFL owners’ approval at league meetings on Oct. 8.