Tonawanda News

Bills

May 29, 2014

AP: Golisano tells Bills he's interested in buying

(Continued)

Tonawanda News — Wilson’s death has raised concerns about the franchise’s long-term future because of the possibility the team could be sold and eventually relocated to a more prosperous market such as Toronto.

Golisano sold the Sabres in 2011. Later that year, he became involved in a group that failed in a bid to purchase the Major League Baseball Los Angeles Dodgers.

The 72-year-old Golisano made his fortune founding Rochester-based Paychex, a payroll processing firm. His net worth was most recently estimated by Forbes to be at about $2 billion. He’s from Rochester, but now makes his home in Florida.

He came to prominence in New York in the late 1990s, when he made three unsuccessful gubernatorial runs.

Congel was previously a principal at Pyramid. He has most recently run into difficulties attempting to redevelop the Medley Centre mall outside of Rochester. The mall is now vacant.

Earlier this month, The Rochester Democrat and Chronicle reported that Monroe County officials voted to declare that Congel was in default of his tax deal by failing to invest at least $165 million to redevelop the property.

Pyramid’s holdings, by comparison, have been lucrative with the company estimated to bring in estimated $5 billion in annual revenue from its 17 properties.

The company’s holdings include what’s called “The Shops at West Seneca,” where Golisano and Congel are proposing to build a new stadium.

NFL Commissioner Roger Goodell has said a new stadium would be the next step in securing the team’s long-term future.

New York state has also hired an architectural and design firm to identify between three or four sites across the region that could serve as the team’s new home.

The Bills are essentially locked into playing at Ralph Wilson Stadium through the end of the 2019 season under the terms of the lease the franchise reached with the state and county in December 2012.

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