from Mike Ozanian of Forbes,

Sources are telling me that Terry Pegula has won the bidding for the Buffalo Bills for about $1.1 billion.

It is a record price paid for a professional football team that does not own its stadium. The deal could be officially announced today by Morgan Stanley MS -2.12%, the banker conducting the sale for the trust of the team’s late founder, Ralph Wilson.

The owner of the NHL’s Buffalo Sabres beat out a Toronto Group and Donald Trump.

My source says the Toronto Group, which included rocker Jon Bon Jovi, Larry Tenenbaum, chairman and 25% owner of Maple Leaf Sports & Entertainment, and the Rogers family, bid “around $1 bilion” while Trump’s bid did not top $900 million.

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