Kemp, Cuomo intersted in buying Bills, but unlikely as it is now

[Coach Sal]

PITTSFORD, New York (Ticker) -- If Ralph Wilson or his heirs decide to sell the Buffalo Bills, Jack Kemp and Mario Cuomo are unlikely to become the new owners.

Kemp, Cuomo and a group of investors are among three finalists to purchase the Chicago Cubs, and also have interest in buying the Bills.

However, the NFL prohibits publicly traded corporations from owning its teams, and league commissioner Roger Goodell addressed the situation on Monday.

"We have a very strong policy that we want a principal owner that speaks for the team, speaks to the community but also is a representative on the league level," Goodell said. "They're aware of those policies if they want to own an NFL team, that those opportunities do exist, but it's very important for us to have a principal owner like Mr. Wilson."

Wilson, entering his 45th year with the Bills, met with Goodell and United States Senator Charles Schumer in the hope of keeping his team in Buffalo.

"We're talking about the future of the Bills and what we can continue to do to make sure that the Bills continue to be successful here in western New York," Goodell said. "We've talked about the initial steps here as far as regionalizing to southern Ontario and the Toronto series. And that has been a very positive step for the Bills in western New York."

"The best assurance you can have long term is to build up a strong franchise, and that's happening now," Schumer told the Buffalo News. "The ticket sales are much, much better. If you involve the Toronto market, making sure the Bills stay in Buffalo, you've added four million people to the market."

The Bills agreed in February to play a series of eight games over a five-year period at the Rogers Centre in Toronto.

http://areyouwatchingthis.com/nfl/news/68832-Kemp-Cuomo-unlikely-to-buy-Bills

[OpIv37]

am I missing something?

Are Kemp and Cuomo's investors a publicly traded company? The article doesn't state that clearly.

[THATHURMANATOR]

Yeah OP WHAT THE ****. We have guys that want to buy the Bills and we are getting **** blocked????

[Jan Reimers]

I don't see why the Kemp/Cuomo group can't spin off an LLC or Limited Partnership with a principle owner (30%) and the requisite number of investors (24) to take a run at the Bills. Corporations spawn other entities all the time in the business world.

[trapezeus]

i don't know what to think about this. on one hand, the NFL is in the driver seat and can make it as easy or as difficult as they like.

I think it's funny that the NFL would like the team to get a new stadium when the new stadium boxes have no impact on the revenue sharing. So why would they care. We all like the ralph, it's still a good stadium with good sight lines.

To me it seems like the NFL will hassle this ownership group to try to get as much out of them as they can. And if the ownership can't make the needed changes, then they'll work with them.

But this was exciting to see some names finally. Instead of hypothesizing on potential owners, we actually heard some names.

[THATHURMANATOR]

Build a new stadium then!!!

[Jan Reimers]

Not only is the Ralph still a good football stadium, but it is debt free and the county seems inclined to provide very favorable lease terms to its NFL tenant.

Why go a $Billion in debt? The Bills' lack of debt is exactly what makes them one of the more profitable teams in the league in terms of net revenue.

[jamze132]

Everybody in that meeting with Wilson needs to sit back, relax, and smoke a bowl... That's how stuff gets done.

[THATHURMANATOR]

Not only is the Ralph still a good football stadium, but it is debt free and the county seems inclined to provide very favorable lease terms to its NFL tenant.

Why go a $Billion in debt? The Bills' lack of debt is exactly what makes them one of the more profitable teams in the league in terms of net revenue.
NFL teams don't pay for the stadiums for the most part.

[Dr. Lecter]

NFL teams don't pay for the stadiums for the most part.

Do you really think NYS, Erie County and/or the City of Buffalo can afford a new stadium?

[THATHURMANATOR]

Do you really think NYS, Erie County and/or the City of Buffalo can afford a new stadium?
Yep.

[Pinkerton Security]

Another good thing is that I bet Cuban wins the bid for the Cubs, and that'll leave Cuomo and Kemp with other options...this is certainly better than hearing "No one wants the Bills. The assets will be sold off piece-meal and the team will cease to exist in 5 years."

[Jan Reimers]

NFL teams don't pay for the stadiums for the most part.
They are more and more, as in Dallas and New York. And I don't see another publicly funded stadium in the Bills' future.

[Dr. Lecter]

Buffalo and Erie County are under a control board.

They will never pay for a stadium.

[HHURRICANE]

Kemp is another blow hard like Kelly. He's not buying the Bills. I can name 100 people off the top of my head, in Buffalo, that have more money than Kemp and Kelly combined.

[DraftBoy]

Buffalo and Erie County are under a control board.

They will never pay for a stadium.

While I think thats true, Thurm is also right. You asked first can they afford it, well yes they can, the NYS budget is a mess with tons of wasteful spending the money is there if they can get it. So yes they can afford a stadium, but you are also correct there is no way they'll actually pay for it.

[Pinkerton Security]

Kemp is another blow hard like Kelly. He's not buying the Bills. I can name 100 people off the top of my head, in Buffalo, that have more money than Kemp and Kelly combined.'

go for it...

[DraftBoy]

Also keep in mind that if Kemp and Cuomo get the Cubs their chances of getting the Bills are probably decreased. I think the NFL prefers to have their owners only own one club from one sport.

[Dr. Lecter]

While I think thats true, Thurm is also right. You asked first can they afford it, well yes they can, the NYS budget is a mess with tons of wasteful spending the money is there if they can get it. So yes they can afford a stadium, but you are also correct there is no way they'll actually pay for it.

One could argue that a government building a stadium is also wasteful spending.

The city and county are the bigger problems. Most of their wasteful spending is due to state mandates (unfunded like medicaid), but they have no money nor do they have the income to build a stadium (remember how small they are). It is not like a penny tax will generate the needed revenue.

[trapezeus]

to further jan's point, within the world of finance, stadium financing has all but dried up. and that's before the credit cycle went bust.

Stadium's are incredibly poor deals for banks because the main method of repayment to the banks is from the tax revenues. But when the stadium runs over cost, the municipality won't raise the taxes because the politicians still want re-election. So the banks end up eating parts of the loss. And with Stadium costs well over a couple hundred million, no bank wants to lend actual cash to something they know will lose them money. they're currently losing money by doing nothing. Why get into a long deal and lose some more?

So in the end, you see more team owners chip in, and the NFL jump into it with their own loans. The banks know the NFL has the cash, and has no problem raising costs to which the public will pay (although in my mind, i think the ceiling of how far they can push the price up is close).

as a disclaimer, stadium deals aren't my specialty, but i am trying to recall the conversation i had with a coworker who specializes in municipality financing

[Dr. Lecter]

Also keep in mind that if Kemp and Cuomo get the Cubs their chances of getting the Bills are probably decreased. I think the NFL prefers to have their owners only own one club from one sport.

Owners can own multiple teams in multiple sports, but they must be in the same market.

So, for example, if that happens Kemp could not own the Bills just like Jeremy Jacobs can't own them due to his ownership of the Bruins.

[DraftBoy]

One could argue that a government building a stadium is also wasteful spending.

The city and county are the bigger problems. Most of their wasteful spending is due to state mandates (unfunded like medicaid), but they have no money nor do they have the income to build a stadium (remember how small they are). It is not like a penny tax will generate the needed revenue.

Agreed, but I was just simply saying that the first question you asked was not the same as the second statement you made. Can NYS, Buffalo, and Erie County afford a stadium? Yes they can. Will they ever pay for it? Hell no.

NYS has enough budgetary issues at the moment a 500-750 million dollar stadium does not need to be added.

[Jan Reimers]

Kemp is another blow hard like Kelly. He's not buying the Bills. I can name 100 people off the top of my head, in Buffalo, that have more money than Kemp and Kelly combined.
Kemp is not buying the Bills, or the Cubs, or any other franchise. He never said he was. He and Cuomo have joined with several others to form an investment group that is interested in professional sports franchises. And if they're one of three finalists for the Cubs, the group has some bucks.

[THATHURMANATOR]

Kemp is another blow hard like Kelly. He's not buying the Bills. I can name 100 people off the top of my head, in Buffalo, that have more money than Kemp and Kelly combined.
Name them immediately. Off the top of your head... :rolleyes:

[THATHURMANATOR]

One could argue that a government building a stadium is also wasteful spending.

The city and county are the bigger problems. Most of their wasteful spending is due to state mandates (unfunded like medicaid), but they have no money nor do they have the income to build a stadium (remember how small they are). It is not like a penny tax will generate the needed revenue.
How is ensuring the Bills stay in Buffalo a waste?? I will pay for that all day long.

[Bill Brasky]

I can name 100 people off the top of my head, in Buffalo, that have more money than Kemp and Kelly combined.

you have some work ahead of you then smart guy

[Dr. Lecter]

How is ensuring the Bills stay in Buffalo a waste?? I will pay for that all day long.

Is a new stadium needed to keep them here?

Is it the job of the government to provide a private business with a multi-billion dollar stadium that gets used ~10 times a year? Should non football fans be forced to finance a new stadium?

[Dr. Lecter]

you have some work ahead of you then smart guy

I'll even help him.

1. Robert Rich

[THATHURMANATOR]

Is a new stadium needed to keep them here?

Is it the job of the government to provide a private business with a multi-billion dollar stadium that gets used ~10 times a year? Should non football fans be forced to finance a new stadium?
Not sure 100% if it is needed but if it deemed to be I am all for it.

Again make it a mixed use retractable dome!

[Dr. Lecter]

No domes.

Not in this area and not for football. Football is an outdoor game.

[THATHURMANATOR]

Kemp is another blow hard like Kelly. He's not buying the Bills. I can name 100 people off the top of my head, in Buffalo, that have more money than Kemp and Kelly combined.
Ok how bout just 10 off the top of your head.... Real Quick.

[DrGraves]

I wish mark cuban would buy the bills... hed just build a new stadium and buy all the best players

[trapezeus]

I wish mark cuban would buy the bills... hed just build a new stadium and buy all the best players

and yell at the refs when they blew calls.

[HHURRICANE]

Ok how bout just 10 off the top of your head.... Real Quick.

First off, I'm not going to name off private individuals, some that I know personally, to prove a point on a message board.

Second, the point is that the Bills need an owner, not an ownership group. Neither Jack kemp or Jim Kelly can do this so I hate when it gets brought up.

Hell, Danny Wegman has a better shot at buying the Bills than Kemp or Kelly.

[HHURRICANE]

Name them immediately. Off the top of your head... :rolleyes:

You really don't think that there are at least 100 individuals in Buffalo that have more money? Seriously?

How much do you think Jim Kelly is worth?

There are at least 10 radiologists that have "Jim Kelly" money.

[Nighthawk]

Is a new stadium needed to keep them here?

Is it the job of the government to provide a private business with a multi-billion dollar stadium that gets used ~10 times a year? Should non football fans be forced to finance a new stadium?

Yes, a new stadium is a must for this team to stay. Also, if a stadium gets built, it won't be a football only stadium and will be worked into a new convention center proposal. It makes no sense building a football only stadium, but is makes a ton of sense building a multi-purpose, retractable dome stadium that is in some way connected to a new convention center. If the Bills stay (which I believe they will), then a new stadium will be built in downtown.