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Buffalo Bills sale: Terry Pegula could be chosen as new owner on Tuesday

All signs point to Terry Pegula becoming the next owner of the Buffalo Bills, and the trust selling the team could kick off the process of making it official as soon as Tuesday.

Kevin Hoffman-USA TODAY Sports

Tim Graham of The Buffalo News is reporting that Terry and Kim Pegula have reached tentative agreement to become the next owners of the Buffalo Bills, and that an announcement making the first stage of the transaction official "should" come on Tuesday.

Mike Ozanian of Forbes was the first to report on a final sales figure, saying that Pegula's final accepted offer was for about $1.1 billion. Reports of $1.2 billion and even $1.4 billion are out there, as well, so take these early reports of final sale figures with a grain of salt.

Graham (TBN) and John Wawrow (Associated Press), among others, reported late Monday evening that a new Buffalo Bills owner could be identified by the trust selling the team as soon as Tuesday. (That's today, by the way.) ESPN's Adam Schefter would only say the process is "moving quick."

All three of them agree, however: the Pegulas have emerged as the likely victor among a handful of bidders that had been attempting to buy the team. Schefter's exact words, in fact, are that Pegula is "on the verge of buying the Buffalo Bills."

The news won't be surprising to anyone that has followed the story of the sale of the team over the past month, as Pegula had already easily distanced himself from the likes of Donald Trump and Jon Bon Jovi - especially in the court of public opinion, but in all tangible ways we were aware of, as well. It would, however, be news that brings unbridled ecstasy to Western New York, and that puts to an end to deep-seated fears that the Bills would relocate after the passing of team founder Ralph C. Wilson, Jr.

As you prepare for your Tuesday, Bills fans, be sure to polish up your explainer for why you're grinning like an idiot, plan to keep a browser tab open to every Buffalo news outlet fathomable, and make no apologies when, if the news drops today, you transform into a party monster in front of your most respected colleagues.

We'll have much more if and when the news becomes official. Keep in mind: once the trust does pick a top candidate, that person (or the group) will need to be vetted by the league's finance committee, and then receive three-quarters approval from current NFL owners in early October.