I think that Pegulas did spend too much money to purchase the Buffalo Bills. 1.1 billion dollars is a lot of money to spend on what many people probably consider one of the worst teams in the NFL. Large sums of money spent for and by sports franchises is fairly normal, however in this particular case I believe that Pegulas overvalued his purchase.
I think even though the Buffalo Bills have not done well, he will more then get his investment back. I think there is a lot of potential for new owners to change things and profit off it. It might help make people excited about the team again and cause them to buy more tickets and merchandise.
While it is likely that the Buffalo Bills in their current state aren't worth $1 billion, the future looks good. If the Pegulas get a new stadium built in Western New York, the team will increase in value, certainly over the $1 billion mark. And if not, and the team has to moved to say Los Angeles or London, the value of the team will be closer to $2 billion.
Buffalo Bills` price of $1 billion is a very good deal. Another deal made couple of years ago already topped a similar price, so it`s a true value. The ever higher players` transfers lead to higher overall bids for the entire teams. Growing advertising and broadcast revenues, in addition, justify the higher bids.