Will The Bills Have A New Owner Before The Season Starts?

[BillsImpossible]

About a month ago, word was that the sale of the franchise is on the, "fast track."

The legal issues alone take time.

The NFL more than likely wants a new owner asap, with new stadium designs in hand.

The LA company hired to study the next best location for a new stadium will complete their study in July.

(Is that a conflict of interest, given they're from LA???)

Do you think the Bills will officially be sold by late August, or will this ownership transition take at least a year?

[better days]

My guess would be the Bills have a new owner in place before the season ends.

[YardRat]

Well, technically speaking, they have a new owner right now.

[Fletch]

Funny how immediately after Wilson's death they said that the team likely wouldn't have a new owner for years and those thinking that this team had no chance of moving at all.

Maybe it's all the **** luck we've had over the years, but I'll believe that we still have a team here in WNY after someone buys the team and it's still called the Buffalo Bills.

Here's hoping, but these reports get turned on their heads so quickly. Next up, the team can't possibly leave until 2020. Not buying that either.

[trapezeus]

i think it depends on how quickly Morgan Stanley puts out the offering memo on the team and how many questions the bidders have. no one can do anything without the offereing memorandum. That will tell people the paper value of the team, and depending on how many bidders there are, someone is going to have to put a premium in the for of cash, or guarantees to the state about keeping the team here.

i also think the trust in charge of the sale will take the ability to keep it local into account.

my worry is that the toronto bid is going to be like the vanek offer sheet from edmonton. Knowing they can't get it, they put out a ridiculous price just to stick it to one of the people who wanted to keep it local and now has to bid way over simply to have the Best offer accepted.


that is my long winded way of saying, i don't think the new owner will be finalized by start of season. they may have a main contender that is publically known but is awaiting a league decision.

[stuckincincy]

i think it depends on how quickly Morgan Stanley puts out the offering memo on the team and how many questions the bidders have. no one can do anything without the offereing memorandum. That will tell people the paper value of the team, and depending on how many bidders there are, someone is going to have to put a premium in the for of cash, or guarantees to the state about keeping the team here.

i also think the trust in charge of the sale will take the ability to keep it local into account.

my worry is that the toronto bid is going to be like the vanek offer sheet from edmonton. Knowing they can't get it, they put out a ridiculous price just to stick it to one of the people who wanted to keep it local and now has to bid way over simply to have the Best offer accepted.


that is my long winded way of saying, i don't think the new owner will be finalized by start of season. they may have a main contender that is publically known but is awaiting a league decision.

That's a sobering thought...

[THATHURMANATOR]

Let me ask this. Does the highest bid get the team or is it the choice of the trustee board?

[Dr. Lecter]

Let me ask this. Does the highest bid get the team or is it the choice of the trustee board?


The board can choose. It does not have to be the highest bidder. Although they certainly won't accept my bid of $100,000.

[MikeInRoch]

How about if I jump in as a minority owner with another $5,000? Think 105K would be enough?

[Pinkerton Security]

Look how quickly the Clippers bid was accepted...I have a feeling once the bids roll in, we will know fairly quickly who our new owner will be, whether or not the actual sale is finished quickly.

[trapezeus]

i think it's good the clippers thing was solved fairly quickly. for an agnostic billionaire who just wants to own a team and doesn't really care about history etc. would you rather spend $2BN on a basketball crazy town in the second largest market, or would you want to spend $1BN on the 53rd largest market?

it probably reduces the pool a little...or so i hope.

[WagonCircler]

i think it's good the clippers thing was solved fairly quickly. for an agnostic billionaire who just wants to own a team and doesn't really care about history etc. would you rather spend $2BN on a basketball crazy town in the second largest market, or would you want to spend $1BN on the 53rd largest market?

it probably reduces the pool a little...or so i hope.

This Clippers thing worries the hell out of me. The damned fool who just paid $2 BIL just set the market at a way higher price for all franchises. Something smells very fishy about the whole situation.

[Ed]

I was under the impression that the next owner's meeting isn't until October, which would mean that the league can't approve the new owner until then.

If they get all the bids in at some point this summer, the trustee board could select a new owner before the season starts, but it wouldn't be finalized until after the owner's officially vote. The vote will probably just be a formality as I don't think the trustee board would pick an owner that could get voted down.

This definitely seems to all be getting resolved a lot quicker than I anticipated when Ralph passed away.

[stuckincincy]

The board can choose. It does not have to be the highest bidder. Although they certainly won't accept my bid of $100,000.

Not sure about that. Trustees are normally bound, barring clauses - to get the most money for the beneficiaries from the sale of an asset. Otherwise, the trustees can be accused of self-dealing.

[Ed]

Not sure about that. Trustees are normally bound, barring clauses - to get the most money for the beneficiaries from the sale of an asset. Otherwise, the trustees can be accused of self-dealing.
Even if the beneficiary(Mary Wilson) is one of the trustees?

[better days]

Even if the beneficiary(Mary Wilson) is one of the trustees?

I would think Mary Wilson has final say over who the Bills are sold to.

The trust can make recommendations to her.

[trapezeus]

This Clippers thing worries the hell out of me. The damned fool who just paid $2 BIL just set the market at a way higher price for all franchises. Something smells very fishy about the whole situation.

could be argued that he did it to stop a prolonged battle with the sterlings. give them a price that gives the NBA what they want and the Sterlings what they want.

it's also rumored that because its a forced sale, sterling doesn't have to pay capital gains tax. which is a huge incentive to sell since he bought the team for like $30MM back in the day.

[stuckincincy]

Even if the beneficiary(Mary Wilson) is one of the trustees?

I wouldn't think so. She is one voice among the others. The trustees were appointed to act in the best fiduciary interest of the beneficiaries. Assumably, that was why RWS established the trust.

[better days]

I wouldn't think so. She is one voice among the others. The trustees were appointed to act in the best fiduciary interest of the beneficiaries. Assumably, that was why RWS established the trust.

As Controlling owner I would think Mary Wilson has final say.

[stuckincincy]

As Controlling owner I would think Mary Wilson has final say.

AFAIK, ownership is in the hands of a trust. There is no controlling owner.

[better days]

AFAIK, ownership is in the hands of a trust. There is no controlling owner.

NO, Mary Wilson was made controlling owner.

I guess it takes time for news to reach Cinci.

[stuckincincy]

NO, Mary Wilson was made controlling owner.

I guess it takes time for news to reach Cinci.

It takes decades for news to reach Cincinnati.

Elaborate...AFAIK, a trust removes individual ownership, handing the business to the decisions of the trustees, and their majority vote in this case, guided by the trust document language put into ink by the entity that established it. No?

[better days]

It takes decades for news to reach Cincinnati.

Elaborate...AFAIK, a trust removes individual ownership, handing the business to the decisions of the trustees, and their majority vote in this case, guided by the trust document language put into ink by the entity that established it. No?

I just bumped the thread about Mary Wilson being made controlling owner.

[stuckincincy]

I just bumped the thread about Mary Wilson being made controlling owner.

So - are you saying that there was no trust established?

[better days]

So - are you saying that there was no trust established?

No, read the thread.

I'm saying AFTER the trust was established, Mary Wilson was named CONTROLLING owner.

[TedMock]

I think you guys are reading too much into this. The NFL by-laws require that each team name an individual principal owner (aka controlling owner). Why? Each team gets to vote on league matters. A trust cannot individually vote. The spouse of the deceased owner just makes sense. Having said that, I am not suggesting that Mary Wilson will vote on any leage matters. She has the right to assign her vote to another team executive. That's how Brandon and Littman voted at different points when Ralph was ill. Brandon most often. I assume this will continue. The entire thing is nothing more than a formality, really. It won't have any effect on the sale.

As for the sale - yes, the trust has a fiduciary duty. That does not necessarily mean to the highest bidder. It means "in the best interest of the trust." That could be sliced and diced all ways. Highest bidder is typically a safe way to go. The keys are whether there are any special circumstances drawn up in the trust docs and/or any specific instructions in Ralph's last will and testament. These, if they exist, will help legally determine what is in the best interest of the trust. As far I know, none of this has been made public. Of course, if you hear anything please let us know!