Aaah, the Sweet, Stinky Odor of Corruption

It isn’t surprising that back on April 12, 2022, we learned how corrupt Governor Kathy Hochul of the Blue State of New York was when she approved $850MM of New York State taxpayer money, $250MM from Erie County and $600MM from that year's State Budget, and paid it to her huband's company, DelawareNorth, to build the Buffalo Bills a new football stadium.

 

All because the Bills’ owner, Terry Pegula, threatened to leave western New York for Texas if the Governor, a Buffalo native, didn’t comply.

Now we learn in the New York Post that billionaire owner Pegula took full advantage of an NFL rule which allowed equity partners to buy into teams. Earlier this month, the fracking mogul sold a 10% stake to Arctos Partners, and another 10% to 10 limited partners led by NBA Hall of Famer Vince Carter.

Given the stadium is owned by public funds, the value of the stadium adds to the value of the team. It means that the Bills are worth $5.8BB and those funds are paid to said owner Pegula. He, not the State, effectively received almost $1.2BB from the minority ownership.

And the Bills are expected to get a boost in revenue from the new stadium from personal seat licenses, suite sales and sponsorships.

None of this, under the terms of the contract that Krazy Kat the Dope and Terry the Pirate signed in 2022, have to be returned now to cover the State and County outlays. Instead, those funds will be paid back over the life of the initial loans.

Remember that her husband profited from the initial payout by the State in 2022. Essentially, so did Krazy Kat. Surely, season tickets were thrown in to induce the Governor to make a lucrative deal.

Do you smell the stink of her corruption now?