Bills owner Terry Pegula said there is “no financial situation” impacting the franchise or future extensions for HC Sean McDermott and GM Brandon Beane.
The Athletic’s Tim Graham previously reported that the Pegula’s were facing a deficit from their oil and gas company, given that natural gas prices fell to $2.14 per unit when capping their wells in July.
Additionally, Pegula’s 57 percent purchase of Rand Capital Corp at $3 per share in 2019 has now fallen to $2.12 per share as of April.
“There is no financial situation,” Pegula said, via Matt Parrino of Syracuse.com. “I don’t know where that rumor started. If you look at every oil and gas company, which is our core business outside sports, they’re all — you might use the word — hurting. But we don’t have any debt on our oil and gas business.”
As for the impact of the virus on sports, Pegula said they are still working to understand how financials will be affected with a key focus on their NHL franchise, the Buffalo Sabres.
“We need to do better moving forward in the sports business like every team’s gonna have to do,” Pegula said. “If we don’t have any fans in the seats next year what are the economics in the world of sports? We need that component, especially in the National Hockey League. Even though times aren’t good in any of these businesses, it’s still, you gotta find solutions. You have to look up and try to find those solutions.”
However, Pegula said there is currently “no financial pressure” on the Buffalo Bills.
“Talking about the Bills, there’s no financial pressure, negative, on the franchise,” Terry Pegula said.
- Sports Illustrated’s Albert Breer writes that he doesn’t get the sense that Jets HC Adam Gase and GM Joe Douglas are strongly tied together, and if the team struggles again in 2020, returning owner Woody Johnson could pull the plug on Gase and let Douglas pick a new coach.
- Rich Cimini of ESPN reports that the Jets have promoted assistant Dave Zuffelato to head trainer to replace John Mellody, who held the job for 14 years and will remain with the organization as a consultant.
- Sports Illustrated’s Albert Breer wouldn’t rule out the Eagles exploring a trade for Patriots G Joe Thuney at some point in camp if G Brandon Brooks‘ replacements struggle.
- NBC Sports’ Tom Curran writes that while the Patriots in general lack speed at wide receiver, if offseason pickup WR Damiere Byrd can make the team and carve out a role, it would be a much-needed shot of speed to New England’s offense.
- Patriots LB Ja’Whaun Bentley says he’s grown with his “knowledge of the game” and ability to “direct traffic” heading into 2020. (Michael Giardi)