This is from Penn State site called:
While a timetable cannot be released at this time, a source close to the Pegula camp has stated that Terry Pegula, Buffalo Sabers owner and Penn State hockey financial backer has started the ball rolling in the purchasing of the Buffalo Bills.
Pegula, who is worth an estimated 3 billion dollars has elevated his status and influence in the Penn State athletic department over the past year at a rate that would make Donald Trump proud. This potential venture into the purchase of the Bills organization would only further connections between the university and the professional sector.
More information will be released as it is known.