The Buffalo Bills are owned by Terrence and Kim Pegula, who bought the team in 2014 for $1.4 billion from the Wilson family. The Pegulas also own the Buffalo Sabres, a team in the National Hockey League (NHL) team. The Pegulas have invested heavily in the development of downtown Buffalo and the surrounding areas, creating a sports and entertainment district called Pegula Sports and Entertainment (PSE). The team was owned by Ralph Wilson between its establishment in 1959 and his death in 2014, making him the longest-tenured owner in NFL history. Wilson was instrumental in the merger of the AFL and the NFL in 1970 and established revenue sharing among the teams. Wilson was inducted into the Pro Football Hall of Fame in 2009.