I expect JBL/Toronto will not see this through to a final bid. Even if they could bid Over $1.2B, the PR damage has been done such that the Trust is unlikely to accept their assurances that they intend to keep the team in Buffalo.
Trump made a non-binding bid of $1B, but he is likely to see through Morgan Stanley's facade of a biding process and back out.
So Pegula being the only serious bidder could make a binding bid of $1B and walk away with the team. Even if he bids $1B, it is an open bid process so he could always bid more if necessary.
Why would Pegula bid against himself?
When it comes to a new stadium, I don't know what leverage Pegula has if he has no threat to relocate the team. That is why I see the Bills playing in the Ralph for decades to come.
Perhaps the various levels of government are dying to build a new stadium downtown among the urban decay.
If Pegula plays his cards right, I can see him only having to pay $75M of a $1B stadium:
(a)$600M (from various government -- Minny is cutting a cheque for $500M and Minny/St.Paul is no where as bad off as downtown Buffalo)
(b)$150M (from the NFL under its program)
(c) $250M Pegula share from:
(i) $125M from selling PSLs
(ii) $50M for a 25 year stadium naming deal ($2M a year)
(iii) $75M from his pocket
Trump made a non-binding bid of $1B, but he is likely to see through Morgan Stanley's facade of a biding process and back out.
So Pegula being the only serious bidder could make a binding bid of $1B and walk away with the team. Even if he bids $1B, it is an open bid process so he could always bid more if necessary.
Why would Pegula bid against himself?
When it comes to a new stadium, I don't know what leverage Pegula has if he has no threat to relocate the team. That is why I see the Bills playing in the Ralph for decades to come.
Perhaps the various levels of government are dying to build a new stadium downtown among the urban decay.
If Pegula plays his cards right, I can see him only having to pay $75M of a $1B stadium:
(a)$600M (from various government -- Minny is cutting a cheque for $500M and Minny/St.Paul is no where as bad off as downtown Buffalo)
(b)$150M (from the NFL under its program)
(c) $250M Pegula share from:
(i) $125M from selling PSLs
(ii) $50M for a 25 year stadium naming deal ($2M a year)
(iii) $75M from his pocket
Comment