Skip to main content

AP sources: Golisano expresses plans to buy Bills

By WTOP Staff

JOHN WAWROW
AP Sports Writer

BUFFALO, N.Y. (AP) — Former Sabres owner Tom Golisano has met with Buffalo Bills officials and public leaders, and informed them of his interest in purchasing the NFL franchise, said people involved with the negotiations.

One person said Wednesday that Golisano also has had talks with developer Scott Congel to be his partner in the potential ownership group. The person added that their discussions have included the proposal of building a new stadium in West Seneca, about a 10-minute drive from the Bills’ current home, Ralph Wilson Stadium. The people spoke to The Associated Press on the condition of anonymity because Golisano has not publicly announced his plans.

The land where the proposed stadium would be built belongs to Pyramid Management Group, which is owned by Robert Congel, Scott’s father. The Syracuse-based company is one of the largest shopping mall developers in the northeast.

A person at Golisano’s office told the AP Wednesday that he has no comment regarding the Bills. Golisano also failed to return a message left on his cellphone.

Congel declined to comment about a potential partnership with Golisano in an interview with The Buffalo News published on the newspaper’s website Wednesday evening. Congel did confirm he has made plans to redevelop the Shops at West Seneca land, which would include the potential of building a 60,000-plus seat stadium.

The Bills are on the market after the team’s Hall of Fame owner and founder, Ralph Wilson, died in March. Wilson’s estate hired an attorneys and an investment banking firm last week to oversee the sale. They are expected to begin contacting prospective ownership groups by the end of next month.

A new owner could be identified by as early as the end of July. The new owner would require approval from 24 of the NFL’s 31 owners.

New York City real estate mogul Donald Trump has already announced his interest in buying the team. Bills Hall of Fame quarterback Jim Kelly has also said he has had talks to partner with numerous ownership groups.

Golisano’s entry into the bidding process does not come as a surprise.

He first discussed the possibility of buying the Bills not long after purchasing the Sabres out of bankruptcy in 2004. Golisano said he would especially become involved in an ownership group if there were any fears of the team relocating.

Wilson’s death has raised concerns about the franchise’s long-term future because of the possibility the team could be sold and eventually relocated to a more prosperous market such as Toronto.

Golisano sold the Sabres in 2011. Later that year, he became involved in a group that failed in a bid to purchase the Major League Baseball Los Angeles Dodgers.

The 72-year-old Golisano made his fortune founding Rochester-based Paychex, a payroll processing firm. His net worth was most recently estimated by Forbes to be at about $2 billion. He’s from Rochester, but now makes his home in Florida.

He came to prominence in New York in the late 1990s, when he made three unsuccessful gubernatorial runs.

Congel was previously a principal at Pyramid. He has most recently run into difficulties attempting to redevelop the Medley Centre mall outside of Rochester. The mall is now vacant.

Earlier this month, The Rochester Democrat and Chronicle reported that Monroe County officials voted to declare that Congel was in default of his tax deal by failing to invest at least $165 million to redevelop the property.

Pyramid’s holdings, by comparison, have been lucrative with the company estimated to bring in estimated $5 billion in annual revenue from its 17 properties.

The land the Shops at West Seneca are located upon are partially undeveloped and on the site of a former mall.

NFL Commissioner Roger Goodell has said a new stadium would be the next step in securing the team’s long-term future.

New York state has also hired an architectural and design firm to identify between three or four sites across the region that could serve as the team’s new home.

The Bills are essentially locked into playing at Ralph Wilson Stadium through the end of the 2019 season under the terms of the lease the franchise reached with the state and county in December 2012.

___

AP NFL website: www.pro32.ap.org and www.twitter.com/AP_NFL

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
Read Next Story

Related News

Frustration grows in Venezuela as earthquake death toll reaches 1,430

Israel and Lebanon sign framework agreement with US in ‘first step’ toward peace, Rubio says

Trump-endorsed populist poised to become Colombia’s next president as rival challenges vote