Why is Terry Pegula selling a minority stake in the Buffalo Bills?

the rock pile reports the pettiest hardest drinking bills podcast welcome everybody to another edition of The Rock Bell Report podcast I'm your host Bill season ticket older Drew gear that's my producer Chris Krueger Ryden shakam with us tonight Doug rosi hi everybody and guys I'm not even going to waste your time we we need to get into this we are here with this week's Bills news update [Music] now Doug nothing has kind of raised more conjecture over the last I'd say 18 months when it comes to the Buffalo Bills I mean all the draft stuff and the wide receiver train and all these ideas that have been floating around none of them have been as divisive an idea as the Buffalo Bill stadium and what it costs and how the psls or how the psls are being rolled out and all of these things everybody seems to be very critical of the process and understandably so right like it's it's a giantes and you're introducing a a you're asking a market that traditionally has been one of the lowest in terms of overall cost in the entire NFL you are now asking them to Pony up you in some cases 30 to 50% more than we did in the past mhm and everyone's crying foul or feels a certain type of way about it I shouldn't say everyone but a large portion of the population and we've you know we've talked in the podcast about why we believe that's correct incorrect how we feel about some of their assertions but one thing that uh I don't know one thing I find really funny is that it's it's always that thing like if you're the person who gets mad at how much your team pays a wide receiver if you were mad at how much your team you know let's say you were AJ brown right you were a you were an Eagles fan and you go we traded for J Brown and then you saw the extension they give him and you go what oh my God I can't believe we paid a wide receiver that much money all you have to do is wait like a year or two and someone else is going to come along and make that look small oh absolutely that's the nature of the NFL MH stadiums are no different no are the Bills stadium was being talked about in rags all over this country MH you know like the the the guy who literally people who WR books about why Stadium deals in any sport are the devil and different Financial economists decide they're going to pipe in and the the investigative post here in Buffalo who listen is somebody who wanted to do that type of Journalism for a living most of these guys are hacks didn't Kansas City just vote theirs down yeah the people right just voted theirs down and so this is where you're seeing how Society more and more is leaning towards this idea that they don't want to pay for it and that's fair fair fair you're talking about billionaires wanting to BU wanting to build billionaire toys basically and throw in on top of that especially to a low Market team like us throw that on top of that that now the owners don't have to pay taxes on the PSL money and now come on now I know so I can see how it upsets some people it definitely does I understand but so here's what I want to know where were all of the pundits and all of the new jerk reactionist today at noon when the Chicago Bears held a press conference and announced that they have plans to build a waterfront stadium for $4.6 billion and they're not asking but requiring 2.3 billion dollars in Public Funding it's absolutely ridiculous but did they all die from shock because they've all been really quiet no you didn't you know what you like we would have but you know why they didn't cuz they are part of New York LA and Chicago they're part of that top three they are just with the market and the sheer size think of how many professional sports teams that Chicago has on top of the universities that all are around there and go there what happened to all the hacks over at the investigative post here in Buffalo who were talking about literally trying to paint this as the Buffalo Bill state deal is I'm doing my bill bur voice like reprehensible they the worst Stadium deal in history and it's not and it's so funny that you said to start the show that not only does that work with contracts but it starts with stadiums because as soon as the bills announced that they were doing this and it got approved and they showed us all the renderings what happened a week later Tennessee came out and said we got you beat and they released their Convention Center Hotel restaurant Mall Stadium this thing is if you haven't seen it like check out the renderings of that like this thing is insane but they're using it 365 sure they're using it for everything sure you know what I mean 100% understood so it took like a week a week someone went n we got that beat a week it it's just interesting you know and I think more interesting is the concept that before Chicago even really gets the ball rolling on this thing they might have a problem see when you open things up to public vote the public it's they have their say and you can say okay well it's just like you pass any law like the legalization of marijuana a lot of States put it to a public referendum let the public vote sure and eventually it becomes pass his law because enough jurisdictions decide you know what we're going to do this and so while it's still not cleared on a federal level right state byst state state different state governments go this is what my constituency wants they voted on it m we can try to block it for a while if we don't really don't like it but they'll just vote me out of office and put someone in who will do it so we should probably capitulate what I find interesting about this is you've got now that makes Chris on public referendums in the last we'll call it 10 years on NFL stadium proposals like can you Google this did Miami put their hotel tax that funded the renovation of Hard Rock stadium to a public boat I don't recall that one not sure I know Green Bay did for their Renovations Green Bay did well Green Bay has to because they're publicly owned right right they did um obviously what we said earlier Kansas City did well so it starts with the Chargers for me because you go back and you look at when San Diego was kind of hey do you want to raise your taxes to pay for this team and they overwhelmingly rejected it correct and then the team moved Oakland same thing mayor and the fins agree no tax funded Stadium without vote okay so the public in Miami did get a say and they voted at a yes okay so so that's one out of the last because I can't really count Green Bay you the city already owns the team but look at but look at the difference between Kansas City Green Bay and Miami think of the money this that's in sure 100% but so then you watch San Diego say no you watch the Kansas the Super Bowl winning historic quarterback in his prime having Kansas City go nah pass we're good we're good we're good which honestly it's not a bad play just from like if I'm being of like just just from a purely football perspective never mind the tax implications MH you just watched your team win three Super Bowls in four years mhm does it get better no like what are the odds that it's going get better than this four or five year run they've had versus what it might be 5 years from now right well they're that's what you're voting on you're not voting on today you're the perfect time to put it out there because what are they trying to do this year they're trying to do something that no one has ever done they're trying to go for that three peat you know what I mean no one's ever done that in the NFL and so the concept though is you're forcing people to make an emotional decision on something that realistically is going to impact them far longer than Patrick Mahomes is ever gonna play oh sure and Andy Reid will be coaching sure five years from now when Andy Reid's new extended contract goes under and Patrick Mahomes is [ __ ] off into retirement right what do you do as a franchise when you're like hey they imagine having this new stadium that you're now roped into paying more taxes on and they're going to trot out the the the 2030 version of Todd Collins and Alex vanel Todd Collins my God you'd be living you would be be beside yourself Todd Collins you know he owns the Buffalo Bills record for the longest touchdown pass ever no that can't be it's 100% true Chris Google that I don't believe him go ahead it wasn't Fitzpatrick nope Todd Collins Google Bill's longest I I I can't wait I can't wait to see your face when I'm right I'm gonna be so mad so [ __ ] Todd Collins that dude ruined Parts ruined a part of my childhood look at that it's a Gabe Davis ties yeah so okay so there there's three with n so there's three with 98 yard touchdown passes uh Fitz magic to Terrell Owens Gabe Davis and Josh Allen and then who the hell did it's Todd Collins who did he throw it quenn early Quinn early is a hell of a pull man I'm I can picture that name on the screen in like Madden 90 like Madden 92 um not M 92 it's like 95 or 96 but you yeah it wasn't if that would have been what year do we draft molds I don't know was it molds I don't know either way here will you two figure that out I'm going to continue on with my point ah I just saw a name bully Billy Joel hobbert what a good guy yeah so imagine you've now voted to raise your taxes so you can watch four five to 10 years of Billy Joe hoberts no no you're not going to do that and I think people have become Savvy enough that they said you know what n no no I'm not putting my wallet on the line when I could be saddled with this when the warm and fuzzy goes away I still have to pay the bill right so with that in mind they're not dumb though asking right now this is the cost of opening those types of decisions up to a public referendum and so the reason why I kind of open talking about this Bears situation is that there is something unfolding here in New York state that a lot of people aren't talking about and I think it's worth noting That Could by the time they get around to trying to nailed it wow was it Quinn early 95 y5 okay so we still had and hold on who let me see that we still had Andre Reed was on the team molds was on the team Jesus they still had Tasker too molds Tasker Reed Quinn early so so one really good linebacker and three really good receivers yeah Russell Copeland oh my God so there's something happening in well it's now at the US Supreme Court level guys um if you were to go Google docket number 23158 for the United States Supreme Court what you're going to find is that just two weeks ago the US Supreme Court hilariously a case that was filed by downstate New York residents a case attempting to force a supreme court injunction to Halt all New York State funding of Kathy hul's agreement to fund the $850 million of Buffalo Bill Stadium construction now I find this hilarious and you're going to see why in a second so first of all the the principles that stand on is it's article 7 section 8.1 and article 8 section one of the New York State Constitution which for those of you who don't know lay people every there's obviously the US Constitution and then every state sort of has its own bylaws written underneath that this has to do specifically with the aid of any private Corporation or private like private undertaking you're going to make me look up this constitution of like Louisiana yeah just see oh my God can you imagine what's in the books of the Constitution of Alabama no somewhere in there there's a [ __ ] Roll Tide you know it you know somewhere in there someone who was printing that out just snuck in a roll Tide and how many times do does the word Plantation come in still I bet you it's like you can't say that it's I bet you it reads the way Ashley schaer talks in he's bounding down that dude that would be that would be insane you learn something new every day I didn't know States had these yes that's insane let's hear this then so well so the concept is is that the New York state constitution by these articles and sections forbid the use of State funds to kind of fuel any private Corporation or Business Without public consent now and that's and I guess it doesn't say without public consent but that's why I was talking about earlier you put things to a public referendum and if it passes then you make it law that's how things work here we go so what they can oh did you find the play a get up get up oh no one touched him there you go that's sweet Quinn early 95 yards see um there's no no no no no there's another one though there's a that's the one there's Todd Collins right there's another one though cuz he took over for Jim Kelly after Jim Kelly retired correct yeah the Todd Collins pass I'm talking about he's one of the three that are tied with that 98 y cuz that happened at home I don't think it did you're going to have to prove it so while we get into this I'm [Music] listening what this guy is trying to propose is that by not allowing New York state right not just Yuri County residents but New York State residents to vote on the resolution to like Supply These funds for this project they violated his constitutional rights the New York C now now now I want I want to remind you he filed that you know how you get to the Supreme Court is when you filed something at every level of court that New York state has to offer and they basically laugh you out of the room the New York state court of appeals forbid him from appealing like this was a thing where New York basically said hey get lost right boo they heckled him out of the room the Supreme Court has at least accepted the case now this doesn't mean a lot right like accepting a case doesn't necessarily mean you're going to go hear arguments on it like I Chris I can't wait to get the angry messages from when he hears this and talks about all the ways i' you don't understand law neither do you when you pass the bar kiss my ass what I understand is that accepted doesn't necessarily mean that they're going to hear arguments on it it just means they want to look at it they want to look at all the information they want to see if it actually has bearing because they find it interesting and it it does make sense when you look at the scope of things right sure this is a citizen saying my state gave up tax pay your dollars without our consent which is against our state's bylaws so we think they violated my state constitutional rights okay you want to have that conversation and see what your recourse could be to compel a government to abide by that okay Dumber battles have been fought and won and lost sure but I think it's worth mentioning that the people involved sound a little I you ever heard of the term unsympathetic victim sure I'm GNA let you decide Doug first of all Chris I want you to put that photo of the guy up on the screen now this guy's name is Tony fushia f u TI this is a picture of him wearing what looks like an ATF jacket right except it's part of his uniform for the We the People Foundation now that guy on the left Bob schules is like he's like a guy who knows some legal ease I believe his lawyer he calls him trousers he calls him trousers slacks one of them has slacks one of them is definitely wearing what you would call trousers sure now here's what I love about this guy first of all dude is old old he has been fighting the IRS on the grounds that income tax is unconstitutional this guy has been leaned and levied to the tune of more than $150,000 us because he hasn't filed an income tax return since 2014 he hasn't voluntarily paid state or federal taxes since 2013 how's he not in jail because he keeps filing for injunctions and he keeps fighting it in court and the day is going to come here very soon where he has to go to court and they're going to be like listen you crazy old bastard the rules say you have to pay your taxes and this is this like this is what I love there are people have you ever seen this Chris heard about Sovereign citizens no okay dog have you ever heard about this phenomenon Google it Chris Sovereign citizen it's a group of people who show up places and basically de will like if you tried to pull them over for speeding and you asked to see their license they say I don't have to I don't have to comply with that because I'm I I've declared myself a sovereign citizen which means you're us law doesn't pertain to me that person's just a douchebag Sovereign citizens believe that courts have no jurisdiction over people and that the use of certain procedures such as writing specific phrases on bills they do not want to pay and loopholes can make one immune to government laws and regulations that's just a douchebag you can't do that you is that the is that the layman's term for what to live you can't do that who says that a douchebag says that come on you know what I now now you know what you're going to make me do all right you're going to make me find a uh a court report of this I actually want to hear how this dude speaks to in a court of law like I just want to hear the old man speak just get three beers and Mark Smith will tell you all about it because they show up in depute traffic court all the time I'm a sovereign citizen what are you talking about you were speeding I just want I just want to hear this old guy talk you imagine him talking to your honor I fought the nazzi okay and now you want to tax me some income tax that's talking about you can't do that to me no I'm not going to sit here and hand ring over this guy's case right but it I think it's interesting I mean for all we know this guy and that's the worst part because he's so old they're not going to throw him in prison right no they're not going to do that but man if there was anybody who was ever asking to be thrown in DT's jail it's this guy oh it's him all day nothing since 201 my tax returns I'm not paying my taxes what are you going to do about it it's like no the the government can do everything I had this conversation with a former cooworker everything in life is a choice and people go well they force me to do this no no no no no nobody forced you to do anything no there is always a choice it just means sometimes taking on a consequence that you don't like that's just Asin to me that you imagine the balls the balls on you you can't ask for my license sir you are going 108 miles hour you don't have the right get the hell away from my car like what and what are you going to do if you're the cop you don't have the right what are you going to do this dude's 92 years old what are you you're not going to get in a fight with a 92y old I don't care if you're 58 years old at the end of your career you're still not going to fight that guy you're going to drag an 92-year-old war vet out of his car cuz he goes nah I ain't giving you my license you can't ask me that it's a wild oh my God so but this is the guy who's now launching something that could become legislation or at least could complicate something that we're all kind of have a vested interest in and Chris where did he say see how it pans out where did he say he lived where was he from Westchester yeah yeah Westchester New York so it's down it's like three it's like uh the triay area White Plains okay so down there by like almost where it touches Connecticut so right outside of New York City I've been to Westchester yeah fancy fancy nice play my so my best friend in high school Mike Co Mike kof well before you say it guy also divested him conveniently before he stopped paying his taxes divested himself of all his property and everything else gifted it to his kids tax sheltered all of his money so they can't take it so they can't take it now continue High School okay so up in that area they don't have high schools that are like centered around kids with like just standard learning disabilities okay so this kid moved from Westchester to uh Milton Georgia where I went to high school lived with his aunt who worked at the school and him and I became like we were best friends like senior year of high school I flew to New York City and we and we went back and visited his parents cuz he'd been living with his aunt all school year also had a house in the Hamptons his dad was huge into the uh into the medical industry and I think after high school I think his After High School his mom and dad moved out of Westchester and they bought the house that they filmed real world Boston in and that's where his parents moved to after living in westchester's Amazing Town lot of money so it's this concept that there's a guy who's decided he's going to be a martyr for the average person and in the process has involved our football team in some nonsense I'm going to be paying attention to that case as it kind of unfolds over the next God knows how long just to see what happens sure but also it's funny you know we started this talking about the Bears Stadium you imagine what's going to happen to them if they if the ruled like let's say the US Supreme Court decides hey every state that has this language in their states bylaws you're no long longer allowed to unilaterally pass the stuff it has to go to a public referendum what does that do to Stadium Stadium construction anywhere well you got to remember also recently uh 2023 um what the owner of the Chicago Bears did as well he purchased property 45 minutes outside of downtown Chicago and said I'm building a new stadium here I'm moving Soldier Field outside of Chicago the people probably were like no you're not no no so now he's prob smart he's probably like okay fine well I'm going to build this monster right on the water I believe that's Lake Michigan I believe it's Lake Michigan I'm going to build this monster Stadium complex and you want it to stay here you don't want me to go 45 minutes down the road no problem I want a couple billion dollars though and if they say no he just laughs and does the St crony literally Goose steps his way out of the city he he will he'll he'll move it 45 minutes away down the road and like that with a big smile on his face the hes wouldn't do that though dirty pool here's so Ju Just again an interesting wrinkle to something that might cost because if you think about it let's say they're successful and let's say they're forced to Halt funding while they put it to a public referendum you're not going to stop CM construction will you figure that out so whose pocket is that coming out of the owners Terry pulas right which leads us to our second piece of business here tonight kind of underscores like hey there's a lot of things going on with the stadium that might end up costing Uncle Terry a little bit more cash sure it's convenient that he uh had put this out to the public the week of the draft right to try to bury it right that Terry P well he didn't put it out and that's the hilarious part about this but guys whether you know this or not Terry Pula has been searching for an investor in his football team now there was lots of Rumblings last week when rumors started to surface that Terry pugula was looking to sell some of his Holdings 25% well this is the thing that's not how it started the rumors actually started with he was looking to sell some of his teams and I reached I text to Chris and I go this is actually kind of convenient because just a few weeks ago we did a podcast where we walked through the timeline you know it's probably better if you watch it on YouTube you guys Chris what's The Rockpile report YouTube handle it's The Rockpile report on YouTube Bang I use the the conveniently boom tried go Rockpile report it wasn't taken and I didn't immediately go to numbers like Drew does when he tries to go social media routes with with our our handle The Rockpile report on YouTube CU I'm still stuck in 2002 when I'm trying to make up my a rock power 716 897 151 12 H fan 1928 baby what was your uh am AOL insta messenger name I never had it I never had that I never have Instagram Twitter Twitter Facebook I've never still you actually your wife has a Facebook and you use it sometimes and guess what I still have a Gmail account for my uh I or sorry a hot mail account I do my my email is a hot mail account Chris what was your what was your high school college AOL Instant Messenger my AOL Instant Messenger name was NHL live 725 what a dark now that's combination NHL the band Live and my birthday with the band Live Yes the band Live that's even more embarrassing I would have kept that I would have kept that to myself I alone love you like them yeah wow wow oh I didn't know you you're that big of a fan do you have a live tattoo on you somewhere please no you so the the second CD that I ever bought in my life was Throwing Copper by live what was the first one president of the United States of America peaches you know I saw I saw you know what mine was what Smashmouth the walking on the sun album what was yours first CD you bought first CD I ever purchased was the Top Gun soundtrack you're a turd man it probably had one of them just in jeans in the beach scene and you're like you know what I want to be this one dude playing with the boys I'll still get fired up over that song you turn it on right now I'll flip this table last time I saw you flip the table you hear Theon beat we were in your basement Clemson beat Alabama for the national championship I flipped the table just looked at my wife and went okay got to go and quiet left like you got him I saw a meme the other day that was just like you know there's been there there's been millions of Songs written about getting your heartbroken but only one about moving to the country and eating a lot of peaches man think about that you're not wrong you're not wrong I like it so I digress we you know stories start coming out and circulating about how the I was talking about this I'm like he can't find anybody to run his businesses theyve all been a [ __ ] show other than the bills because the people in charge are basically like Terry get get your Ms off you and Kim stay the hell away from what we're doing over here keep all that [ __ ] on you and it's always been a disaster but that's why it's worked for the bill so far exactly so then stories start circulating talking about how the Sabers are going to be sold alongside pretty much everything except for the bills the night I didn't know that he owned The Nighthawks and the bandits I didn't I know we own the bandits I didn't he owns the Rochester n Hawks and so all these stor start I'm getting text messages from my uncle like what do you know about this have you heard anything and I'm like [ __ ] no I haven't heard anything because it's it can't be real If he if he if he ended up end ever selling the Sabers does that come with the Americans is it a two for one kind of believe so I I don't know because they have an arena with upkeep and everything like that too he call in if you know Chris here's a question what were your first thoughts or feelings when you saw saw that blurb come across Twitter about how hey the Sabers might get sold well I will tell you this Greg Zan reached out to me with a with the tweet from somebody that guy loves you I love your I love the fact that you haven't worked with this guy in years and he still texts you he text me a link to a Twitter thread from somebody that had like 300 follows like this is not a reputable Source this is what happens when you let the elderly loose of Twitter right if it was 3 million and be like okay all right I got it no and but then the next day I saw like Tim Graham tweet something about it but so what were your feelings in the moment when you're like oh my god well my brain went to okay I saw 25% is what I no no no I'm not talking about the bills I'm talking about when you thought the Sabers might get sold oh no I no you just never believed it I never I still don't believe it your your immediate reaction when you started hearing that noise yeah I can buy it because think I mean here's the only reason why I can understand that and I understand if uh Mr Pula had to pick one I'm assuming he's going to pick to keep the Sabers cuz he's a huge hockey fan all the money he put in Penn State and everything like that but the dude has to cover all the overage in this Stadium okay on top of that you have a losing franchise right now in the Buffalo Sabers in one of the worst Arenas in the league like they need a new building so instead of that what is he doing he's putting out a brand new roof he's putting up a brand new Jumbotron and they're going to put a couple am some amenities in there okay that's still going to cost what $80 million that he's doing so so you're so my my overarching point here throughout this conversation is that all of this started with these tweets but it came from a place that people didn't understand so the people who thought they were breaking the story on this like oh my God he's selling these teams he's doing all this stuff all of this came from one place that one person found out that Terry Pula had hired alenin company which is a known firm when it comes to brokering transactions like if you they're they're one of the companies that's known for brokering sales of teams if you say brokering it's multi hundreds of millions billions sales of equity in teams but nobody but but everybody jumps to the worst possible conclusion first because that's how that goes so one person lets it slip that they've hired alen and Company for some exploratory conversations and the conversation immediately skews to what you would believe the Sabers are losing franchise and the building sucks and everything's been bad and Pula can't get it right so obviously he wants to sell him and that's what everyone ran with the reality was and I'm sure there was probably a sense of relief among some people when they found out that it wasn't to sell any of his other franchises it was to try to facilitate a non-controlling portion of the Buffalo Bills M now just to give some people background the NFL has been talked about like Forbes called it the hardest so what do they say it's the strictest ownership rules of any professional sport like to get into so if you want to be considered an owner right you have to have a lead investor one doesn't matter how big your group is the lead investor has to have a 30% stake by himself because NFL owners don't want to have like what what are you going to like think about those NFL owners meetings as a richer fatter United Nations right they don't want six people representing the bills sitting at the table Chris imagine if it was like Hey and now this is uh the Buffalo delegation and it's and it's Mark Smith because you know he's Rich Mark Smith and then it's you and me and Doug in a pinstriped suit with his Jesus Piece hanging out and his hair slicked back I got good hair Chris and they have to sit there and go I'm not talking like if I were to walk up to Steve biscotti and try to ask him a question do you think he's going to talk to me do you know why the Atlanta Thrashers are no longer around i' love to hear it because they were owned by a group and everyone hated each other so that's why they're and ownership groups don't work and so that's where they say one person has to be the figurehead cuz that's the only person we're negotiating with where we want to talk to that person we want to know that that guy has say everyone else can contri their money but there's only one person we're willing to talk to can you imagine if I walked up and tried to ask Steve biscotti for a favor he pays people to ma people like me so what kind of person do you think is going to be looking into this 25% because they're not going to have a say on anything but this is strictly going to be a money and it gets tougher than that no group can be larger than 25 people the group can't borrow more than a billion dollars from any Bank anything else it all has to be look like so whoever's buying an equity stake has to have it in cash Chris what's 25% of 3.6 billion well that's what I was going ask so Chris can you give us the figure what are the bills worth today and here's the other thing no private Equity firms no Sovereign firms you know Sovereign funds and no public corporations may buy a part of an NFL team although the money pig that they are they did put together a group to analyze that and see if they couldn't soften their stance because you're just talking straight you got to have well that's going to limit the field for sure there's a dude who has to have the and then everybody like he can have 10 guys with him who all chip in but there's one guy who's got to have a giant chunk of liquidity now Chris what are the Bills currently worth as of 3.7 billion and if you're selling 25 if you're selling 25% of that it is comes to 925 million so right off the bat right off the bat okay so we're just going to say 900 million we'll make it easy right off the bat in New York state celebrities other owners whatever you think of um entertainers who has that kind of money from New York State there's probably not a singular guy which is why this group dynamic becomes important because you're going to find minority in what you got your hand up John bonjie I'll shoot you in the mou I almost punched your screens I was going to say I'm not even being funny the you know who just because there's two of them cuz there's two of them and they're married you know who came right to my mind who I'm not being funny oh boy let me lean back for this one Jay-Z and Beyonce that's the only thing I could think of in the state who combined have $900 million to give to that dude I I don't know if you've been following social media lately but Jay got his own he's got 99 problems and the Buffalo Bills ain't won he doesn't need this and we don't need that I mean he ain't friends with Diddy yeah that's kind of part of the problem Oh Noy oh yeah no it's it's it's it's bad dog so Tom Hanks is out Tom Han is also out yes all right like you could have a coalition of people who come together to kind of Cobble that together with one spokesperson yeah the minority holder would have to be an a figure head and they would have to own at least 30% of whatever the investment is now you're talking about $900 million okay oh he's got the list of richest Americans who's that lady in the middle and no this is these are the 6 62 New York made four that's see I went with New Yorker because listen you could still live in New York and fly out here every Sunday on your private jet with your 52-minute flight and get to the game you know what I mean that's why that's the only reason why I said New York now here's what I'll say like when he mentioned John bonjovi like I don't know about people who we'd want but I do know a list of people who who shouldn't be allowed anywhere near this he's one of them oh absolutely he's one of them like if Chris ever brings that iide up in this studio again I'm going to put on playing with the boys I'm going to cut my the jeans I'm wearing right now I'm going to cut them into Jorts I'm going to take my shirt off and I'm going to tear this place apart Brick by Brick I don't even listen I could be sitting at work in the jail okay I could be in my car whatever if I hear a bon ju Joy song it immediately gets changed immediately I still can't this dude wanted to even the idea of going to Toronto I it just gets me infuriated I'm laughing I'm like I'm laughing at the idea of you like in the movie The Longest Yard going into a going into a prisoner's uh a prisoner's day room and just shutting the radio off cuz there's a bonji song on oh I'd smash one she going what I'd smash one what who wants a piece of listen if you know it listen I've been at that jail long enough and they call me Mr R if you know if you know that you hear Prince coming out of my van you better stay away because I'm in the zone I'm singing and if it's purple rain I'm not afraid to cry in front of people if it's Purple Rain I might tear up and cry him riding on that bike one of the best movies I've ever seen in my life man I also think that this might be a blessing and disguise for every all parties involved the Sabers the amirs The Nighthawks the bandits follow me here first of all the act of taking out taking on an investor like that is essentially just taking out a home equity loan MH people do it all the time I have projects that I need to accomplish and I don't have or at least I have cash that I don't want to touch cuz I'm it's generating interest for me and I'll pay penalties but also I've got some projects I need to do and I think I can get some money out of some stuff I own but I don't want to give up control of that thing correct so I'm just going to take out a home equity loan and that's cool somebody else will give me the cash and attach an interest rate of that to the of their own say hey I'll make a vig and now all part of like in reality that's what's happening sure it's bunch of people are going to get together give Terry Pula a lump sum of cash and in return what they're going to get is a little Vig put on top of it when someday either the team sells or they decide to you know buy out get bought out whatever the case may be that's one two it potentially lays the groundwork for an assumption of ownership down the road should the Pula family at a certain point in time decide they no longer want to own the team anybody who's interested in owning and kind of wants to get their foot in the door mhm could in theory become a minority stakeholder first sure and then they start to work the NFL circles and start to meet people and start to that way they can get like hey NFL owners don't know me and they have to approve of me first let me get to know some of them first and then when the day comes where teg says hey I don't want the team right or he passes his wife passes and his daughter they don't want the team they could be like we've worked with Bon Joi for the last decade and we know Over My Dead Body right and we know that like they're going to have a better chance getting approval for a sale to become a next owner of something because they're going to be noticed that oh well we've already had him around or her around for the last 10 years so it becomes part of succession planning for an NFL franchise also so you got your cash you got your succession planning in case and let's say that number is accurate that's 900 million but there's also something I've been thinking about going to cover a lot that goes back to this idea of the podcast we did talking about how shitty these Executives I mean literally they can't stop quidd proing their way out of their jobs every single suit that Terry Pula puts in as like president of PSC or I'm going to name this guy the CEO and this is going to be my head counsel the CF why are you fooling around in England what's happening here he can't find people he trusts to do the job well and they all keep botching it they get themselves fired and it's it's hilariously bad when's his daughter done playing tennis so she can just go back to Harvard this is it it's like at a certain point someone needs to step in here but this is why bringing in another group of wealthy individuals may have a other I don't know Advantage for the franchise in the sense that what you'd be doing is you'd be bringing in other wealthy people now maybe not billionaires multi-billionaires but you'd be bringing other wealthy people who then by default you've widened the circle of other capable executives that they may know you gain access to networks of other professionals who you think can come in and work in a sports capacity to run a business like it's a business and not like it's Mad Men inside the office I think that there's a lot of benefit to this well think about just the relief that it's going to give him like again like I was saying let's say that 900 million is accurate okay that's going to cover his overage for what's going to Happ happen at this Arena or at this stadium and that's going to cover the upgrades that he's doing at the Sabers Arena this offseason like I said with the roof and the Jumbotron and then some you're going to have stuff left over you know what I mean so maybe it's going to give I mean he's a billionaire what did they just say he's worth $6 billion doar 6.6 something like that that's what Pula is worth that's his net worth see luckily for us we have luckily for us we have a better looking Jamie Vernon okay 6.8 so that's going to give him some relief to where okay I'm going to be able to make sure the stadium is good and anything in the foreseeable future that comes up you know they want to do a 40 foot tall buffalo in front you know what I mean whatever he can cover it this is going to give him a little piece of mind or some idiot down state ties up his money for an extra six seven months right you know what I mean that's all it's going to do and this doesn't mean that the Pula family can't own this team for the next 100 years this they can they're going to own 75% the 25% be like no I don't think you could should trade this person and be like huh you don't get to say thanks though appreciate you well the funny thing is they would have to go like someone would come in as a minority owner and go hey I don't think that that's a good football decision and Terry would laugh and go oh I don't think you understand how this works I don't I don't even get to make those calls you have to talk to Brandon Bean right and Brandon Bean is going to be like you're going to walk into his office as a minority stakeholder in the team and he's going to not even have his shirt on That's how little he respects you you're going to walk into his office and he's going to ignore you for the first five minutes you're in there and then be like oh sorry I didn't see you there Chris what Drew just said what he just said is absolutely why I still have faith in the sabers is because we have watched Pula do it with the bills we've watched it be like you know what nah I'm going to let bean and McDermot run this show and I'm going to sit back here I'm going to throw my two cents in when it comes to a first overall draft pick or paying a Josh Allen I'll throw my two cents in but I'm just going to mind my own here as soon as he figures that out with the Sabers I think they're going to be okay give the job to hockey people and get out of the way Lindy we could have the Lindy rough conversation all night but I'll tell you what guys I think this has been a productive conversation I think we've covered a lot I think we I think we all learned something especially Doug who didn't know what a sovereign citizen was do you know that there's whole YouTube compilations of these people just getting tasered I if you were a police officer and someone told you imagine someone and you you've had a bad day you you they're in the wrong you are right you can't ask me for that get the hell away from me I don't have to step out of the vehicle because I'm a sovereign citizen your laws don't apply to me you want a BET right hey back off four eyes right right right next thing you know you're on paid administrative leave cuz you just dragged an 88-year-old man and that's it out of the out of his car window you're like I can't do this we just have to let this guy that's how the IRS is looking at this dude fought in the B the battle of the balge in Belgium and he's getting tasered and taken down by Drew gear it's the so the IRS is looking at this guy going we should just Hammer this guy but we can't SM cuz he doesn't how smart is he though you know what here honey grandkids kids everyone getting he offloaded everything and now he's standing there daring the government to Smite him and they're like ah damn it I just I need to read I need to get my hands on this court transcript and just see how he addresses people I hope he talks down to them I really hope he's a nasty nasty man and that he just talks down and he's Italian right oh look at this look at this well Sovereign citizen getting tasered in court this man gets tasered in court while trying to clear his name you did a good job of clearing your name sir I like and now you're just guilty of a different crime and that looks like a nice courtroom too and that crime is called stupidity and on and on that note guys we're going to get out of here I'm Drew gear that's Chris Krueger that's Doug rosi and this has been your Bill's news update