AP sources: At least 3 groups set to bid on Bills

[Dr. Lecter]

BUFFALO — At least three groups, including Buffalo Sabres owners Terry and Kim Pegula, have entered final negotiations to buy the Buffalo Bills.

Three people close to discussions told The Associated Press on Tuesday that New York City real estate mogul Donald Trump and a Toronto-based group led by rocker Jon Bon Jovi also have received formal documents in advance of a deadline for bids to be submitted by Monday. The people spoke on condition of anonymity because the sale is being conducted privately.

Two other people familiar with the process say former Sabres owner Tom Golisano is not prepared to submit a bid.

Proskauer Rose, the law firm representing late-Bills owner Ralph Wilson’s estate, distributed what are called purchase agreements to each of the groups. The agreements are binding documents that require groups to submit a formal bid as well as establish the terms and conditions of a potential sale.

The team is being sold after Wilson — the Bills founder and Hall of Fame inductee — died in March.

The Pegulas remain the front-runners. They have a net worth of more than $3.5 billion, and have the support of local business leaders and public officials because of their commitment to keep the Bills in western New York.

The Bon Jovi group remains intact despite several recent reports of it splintering. The group is rounded out by Larry Tanenbaum, chairman of Maple Leaf Sports and Entertainment, and the Rogers family, which controls Rogers Communications.

The biggest obstacle that has consistently faced Bon Jovi and his partners is the question regarding their intentions to possibly relocate the franchise north of the border.


http://www.buffalonews.com/city-region/ap-sources-at-least-3-groups-set-to-bid-on-bills-20140902

[SpikedLemonade]

"Two other people familiar with the process say former Sabres owner Tom Golisano is not prepared to submit a bid."

[SpikedLemonade]

"The Pegulas remain the front-runners. They have a net worth of more than $3.5 billion...."

[Fletch]

This just in

[Skooby]

Tom G. is a wealthy guy, just not quite this wealthy.

[Fletch]

Apparently also not quite interested enough.

I have this hunch that Pegula's not going to be as open-walleted as some think. He's justified in thinking that Morgan Stanley and the trust are trying to game him into putting up more than he had to. That can't sit well.

[better days]

Apparently also not quite interested enough.

I have this hunch that Pegula's not going to be as open-walleted as some think. He's justified in thinking that Morgan Stanley and the trust are trying to game him into putting up more than he had to. That can't sit well.

Having just sold land for $1.75 BILLION, Pegula understands people try to get the most they can when selling something.

Pegula will pay whatever it takes to win the bid.

[Meathead]

do you know why golisano isnt submitting a bid? because ej sucks

[kscdogbillsfan1221]

do you know why golisano isnt submitting a bid? because ej sucks

That literally made me laugh out loud. Good comic relief

[OpIv37]

do you know why golisano isnt submitting a bid? because ej sucks

That may have something to do with it. If EJ can play halfway decently, this team should be good next year or the year after.

This team bet the farm on EJ. If he sucks, we have no first round draft pick to replace him until 2016, which means two years of suck followed by another 3 year rebuilding cycle. The team won't be competitive until 2019.

That prospect can't be too inviting for someone who needs to invest nearly a billion dollars and then immediately start negotiations on a new stadium.

[better days]

That may have something to do with it. If EJ can play halfway decently, this team should be good next year or the year after.

This team bet the farm on EJ. If he sucks, we have no first round draft pick to replace him until 2016, which means two years of suck followed by another 3 year rebuilding cycle. The team won't be competitive until 2019.

That prospect can't be too inviting for someone who needs to invest nearly a billion dollars and then immediately start negotiations on a new stadium.

I am pretty sure Meathead was joking Op.

The Bucs had no QB in place when the Glazer family bought them, nor did the Cowboys when Jones bought them.

Two teams off the top of my head. And just because the Bills have no first rnd pick today does not mean they won't have one at the time of the next draft.

And a new stadium will not be needed for years.

[THATHURMANATOR]

So this is a new story about the exact same thing we already knew. Just sell the ****ing team already. Sick of this.

[MikeInRoch]

I'm curious if each group will be able to raise their offer based on the other offers that come in. In other words, if Pegula submits a bid for $1 B, and the Toronto group bids $1.1 B, can Pegula bid $1.2 B?

[SpikedLemonade]

I'm curious if each group will be able to raise their offer based on the other offers that come in. In other words, if Pegula submits a bid for $1 B, and the Toronto group bids $1.1 B, can Pegula bid $1.2 B?

Yes.

It is an open bid process.

[better days]

I'm curious if each group will be able to raise their offer based on the other offers that come in. In other words, if Pegula submits a bid for $1 B, and the Toronto group bids $1.1 B, can Pegula bid $1.2 B?

We don't know for sure, but why wouldn't the trust want a bidding war?

[Dr. Lecter]

That may have something to do with it. If EJ can play halfway decently, this team should be good next year or the year after.

This team bet the farm on EJ. If he sucks, we have no first round draft pick to replace him until 2016, which means two years of suck followed by another 3 year rebuilding cycle. The team won't be competitive until 2019.

That prospect can't be too inviting for someone who needs to invest nearly a billion dollars and then immediately start negotiations on a new stadium.


I don't somebody investing a billion or more is going to be all that concerned with how good the team will be in the next 2-3 years.

And your not competitive until 2019 is not based in any kind of reality. We all know how quickly a team can turn around. I could list several examples but will start with Seattle.

[Dr. Lecter]

do you know why golisano isnt submitting a bid? because ej sucks



Racist

[Fletch]

Having just sold land for $1.75 BILLION, Pegula understands people try to get the most they can when selling something.

Pegula will pay whatever it takes to win the bid.

And you know this how?

How much will that be? The bidding appears to be closed/secret. So HTF is Pegula going to know what Trump or T/R/JBJ have bid?

You don't think too clearly, do ya.

[Dr. Lecter]

And you know this how?

How much will that be? The bidding appears to be closed/secret. So HTF is Pegula going to know what Trump or T/R/JBJ have bid?

You don't think too clearly, do ya.

Did you read the Buffalo News article - it says that they can go ahead and increase bids.

[Fletch]

do you know why golisano isnt submitting a bid? because ej sucks

You joke, but it doesn't take much for any would be owner to take a look at this team, with Jackson on the outs, Manuel and the QB situation, Spiller's status up in the air, Kyle Williams being 31, no 1st or 4th round picks next season, to then come to a reasonable conclusion that this team may not even have much of a shot at being good again until the 2017 season, and that's if someone competent, unlike those in charge now, is running the show.

That would take the team to about the time that a new stadium would need to have ground broken on if the team is planning on staying.

So joke away, but what can this team possibly do for an encore this offseason without a 1st rounder and a huge budget. Factor in that they can't do it even when they have money and it's not promising.

[Fletch]

And a new stadium will not be needed for years.

It may not be needed for years, although the league would disagree with you and since what they say means worlds more than what you say...

Plans for a new stadium will need to have been firmed up by 2017 or so because it's going to take 2-3 years to build a stadium, and if there are no plans by 2018/2019, I'd strongly suggest that the odds of the team moving at that point increase exponentially.

We're already fighting an uphill battle and need a new stadium according to the league, again, despite what you or anyone else say. If there aren't plans for one well under way by 2017, I think the odds of the team staying here are slim to nil.

[Fletch]

Yes.

It is an open bid process.

Do you have a link/source for this?



Did you read the Buffalo News article - it says that they can go ahead and increase bids.

I think I read it depending upon which one you're talking about.

My understanding is that they may raise their bids from their initial bids from several weeks ago.

I've read absolutely nothing to date that states that all three groups bid again, then can see each others bids, and then revise them to bid again as if it were an auction. Everything that I've read states plainly that final binding bids are due at the end of the week now.

That doesn't strike me as an open bidding process, it strikes me as being a secret/closed one.

Otherwise, why would bids "be due?" There would be no "due date" as it would be an ongoing process for whatever length of time, right. Have you read anything about bids being able to be revised after they're submitted in a few days?

If you have a link to something else, please provide it.

[SpikedLemonade]

Do you have a link/source for this?




I think I read it depending upon which one you're talking about.

My understanding is that they may raise their bids from their initial bids from several weeks ago.

I've read absolutely nothing to date that states that all three groups bid again, then can see each others bids, and then revise them to bid again as if it were an auction. Everything that I've read states plainly that final binding bids are due at the end of the week now.

That doesn't strike me as an open bidding process, it strikes me as being a secret/closed one.

Otherwise, why would bids "be due?" There would be no "due date" as it would be an ongoing process for whatever length of time, right. Have you read anything about bids being able to be revised after they're submitted in a few days?

If you have a link to something else, please provide it.

I read it somewhere that the Trust can start to negotiate with more than one bidder after the binding bids are in.

[OpIv37]

I am pretty sure Meathead was joking Op.

The Bucs had no QB in place when the Glazer family bought them, nor did the Cowboys when Jones bought them.

Two teams off the top of my head. And just because the Bills have no first rnd pick today does not mean they won't have one at the time of the next draft.

And a new stadium will not be needed for years.

So where are they going to get a first next year? Can they win one off a scratch off lotto ticket?

New stadium negotiations need to begin immediately because it's a long process. The team and the city need to agree on financing, the site needs to be determined, and the physical construction will take at least a year. If something isn't in the works before the out year, the new owner could move.

Even if that's not the case, there are only 8 years left on the 10 year lease and the lease won't get renewed again. The team needs a new stadium.

[Fletch]

Did you read the Buffalo News article - it says that they can go ahead and increase bids.

The bidding process will remain open for groups to increase their bids until a candidate is selected.

That's from yesterday's piece in the BuffNews. I guess my original understanding of that was that the process will remain open until all final bids are received on Monday.

But on second view it sounds as if there will be open bidding, auction style. Still seems a little unclear to me.

If that's the case, how long is it going to be open for? Days, weeks, months? It doesn't say. What if one group declares that they intend to submit another bid and take their sweet time doing it?

There has to be a finite date by which a decision will be made.

This entire thing is being conducted poorly. The article says the following which contradicts an open/auction style bidding process;

At least three groups have received formal documents to submit final bids to buy the Buffalo Bills, according to a report Tuesday from the Associated Press.

The deadline to submit bids is Monday

If they can continue to bid after Monday then there really isn't much of a deadline now, is there. Also, why do they say "final bids?" They clearly wouldn't be final if that's the case.

Again, this is either being very poorly conducted, very poorly reported, or both.

[Fletch]

So where are they going to get a first next year? Can they win one off a scratch off lotto ticket?

New stadium negotiations need to begin immediately because it's a long process. The team and the city need to agree on financing, the site needs to be determined, and the physical construction will take at least a year. If something isn't in the works before the out year, the new owner could move.

Even if that's not the case, there are only 8 years left on the 10 year lease and the lease won't get renewed again. The team needs a new stadium.

My guess is that we'll start seeing negotiations for a new stadium as soon as the offseason comes under a new owner, but not until there is a new owner. So if that process drags out then it will delay that.

Agree though, they've gotta get the ball rolling in order to secure all the funding that they'll need. I suppose that there's still the chance that Pegula will spend all of his own money on a stadium, but not sure that has a good chance of happening.

If there are no plans for a new stadium by early 2017, the lead-time that it will take to build it before the out clause in the current lease, expect discussions centered around the team moving to begin to occur.

[better days]

So where are they going to get a first next year? Can they win one off a scratch off lotto ticket?

New stadium negotiations need to begin immediately because it's a long process. The team and the city need to agree on financing, the site needs to be determined, and the physical construction will take at least a year. If something isn't in the works before the out year, the new owner could move.

Even if that's not the case, there are only 8 years left on the 10 year lease and the lease won't get renewed again. The team needs a new stadium.

The Bills can trade a player/players/player & pick/picks or future picks if they feel the need to get a #1 next year.

Yes it takes time to get a new Stadium built, but it doesn't take 8 years time. It is not that long a process. 3-4 years is plenty of time to get it done.

[OpIv37]

The Bills can trade a player/players/player & pick/picks or future picks if they feel the need to get a #1 next year.

Yes it takes time to get a new Stadium built, but it doesn't take 8 years time. It is not that long a process. 3-4 years is plenty of time to get it done.

We don't have any players worth first round picks and if we do, we should keep them. And this assumes that some other team will be willing to trade out of the first round.

And if we trade up to get a QB, by exchanging our good picks/players, we are setting him up to fail by not having talent around him.

[Fletch]

The Bills can trade a player/players/player & pick/picks or future picks if they feel the need to get a #1 next year.

So in order to improve quickly it makes sense to you to trade a player that's worth a 1st-round pick for one that might be eventually, and with our past record of drafting in the 1st round likely won't be?

Sounds about par for you.

[BLeonard]

Do you have a link/source for this?




I think I read it depending upon which one you're talking about.

My understanding is that they may raise their bids from their initial bids from several weeks ago.

I've read absolutely nothing to date that states that all three groups bid again, then can see each others bids, and then revise them to bid again as if it were an auction. Everything that I've read states plainly that final binding bids are due at the end of the week now.

That doesn't strike me as an open bidding process, it strikes me as being a secret/closed one.

Otherwise, why would bids "be due?" There would be no "due date" as it would be an ongoing process for whatever length of time, right. Have you read anything about bids being able to be revised after they're submitted in a few days?

If you have a link to something else, please provide it.

http://espn.go.com/nfl/story/_/id/11293236/donald-trump-advances-next-round-bidding-buffalo-bills



Once that is done in the coming weeks, groups will then be asked to submit formal bids. The bidding process is unsealed, meaning Wilson's estate will have the ability to ask groups to increase their bids.


http://www.wisegeek.com/what-is-an-open-bid.htm



An open bid, or unsealed bid, is a bid that is available for all other bidders to see and possibly act upon. These bids may be done through a traditional live auction, where an auctioneer calls out prices as bidders indicate their willingness to pay. Open bids can also be awarded for things like construction projects, where the lowest bidder often gets the contract. Some projects and sales may require an open bid and others may not.


Seems pretty clear to me, based on the ESPN article stating that the process is unsealed (otherwise known as open).

Using that knowledge, the bids could come in as follows:

Toronto/JBJ: $1.2 BIL
Pegula: $1 BIL
Trump $950 MIL

The Trust could then go back and ask Pegula to match or exceed the Toronto/JBJ bid, in order to be awarded the franchise. The process allows the Trust to essentially hand-pick the winner, while also allowing them to maximize the sale amount.

-Bill

[better days]

So in order to improve quickly it makes sense to you to trade a player that's worth a 1st-round pick for one that might be eventually, and with our past record of drafting in the 1st round likely won't be?

Sounds about par for you.

If the Bills use that 1st rnd pick on a FRANCHISE QB, HELL YES it makes sense to me.

Especially if that player is about to become a FA like Spiller is.

[better days]

It may not be needed for years, although the league would disagree with you and since what they say means worlds more than what you say...

Plans for a new stadium will need to have been firmed up by 2017 or so because it's going to take 2-3 years to build a stadium, and if there are no plans by 2018/2019, I'd strongly suggest that the odds of the team moving at that point increase exponentially.

We're already fighting an uphill battle and need a new stadium according to the league, again, despite what you or anyone else say. If there aren't plans for one well under way by 2017, I think the odds of the team staying here are slim to nil.

Well, the NFL also agreed to the Contract the Bills signed with Erie County so you can forget about them moving.

The fact the NFL aproved of that lease agreement is proof that the NFL wants to see the Bills remain in Buffalo.

And a new Stadium will be built in plenty of time.

[OpIv37]

Well, the NFL also agreed to the Contract the Bills signed with Erie County so you can forget about them moving.

The fact the NFL aproved of that lease agreement is proof that the NFL wants to see the Bills remain in Buffalo.

And a new Stadium will be built in plenty of time.
The NFL approving the lease has nothing to do with whether they want the team in Buffalo.

The team had an owner who refused to move and there were no other cities prepared to take the team. One or both of those things may not be the case when the lease expires again.

The way you do logical gymnastics to jump to completely illogical conclusions to convince yourself that things are how you want them to be is amazing.

[better days]

We don't have any players worth first round picks and if we do, we should keep them. And this assumes that some other team will be willing to trade out of the first round.

And if we trade up to get a QB, by exchanging our good picks/players, we are setting him up to fail by not having talent around him.

Some team is always willing to trade. But you might have to give up as much as Washington did to the Rams.

If it is for an undisputed Franchise QB, it is probably worth it.

[better days]

The NFL approving the lease has nothing to do with whether they want the team in Buffalo.

The team had an owner who refused to move and there were no other cities prepared to take the team. One or both of those things may not be the case when the lease expires again.

The way you do logical gymnastics to jump to completely illogical conclusions to convince yourself that things are how you want them to be is amazing.

If the NFL WANTED to see the Bills moved, they could have disapproved of that lease.

No other Cities prepared to take the team?

BOTH LA & Toronto would have been prepared & happy to take the Bills if they were free to leave Buffalo.

[OpIv37]

If the NFL WANTED to see the Bills moved, they could have disapproved of that lease.

No other Cities prepared to take the team?

BOTH LA & Toronto would have been prepared & happy to take the Bills if they were free to leave Buffalo.

well before you said the NFL doesn't want a team in LA because the fans don't support it, so make up your mind.

If the NFL didn't approve the lease, they would essentially have been forcing Ralph to move when he didn't want to. That's a terrible precedent for the other current owners and potential future owners. It would have been detrimental to the league.

So, what you are saying makes no sense. You are twisting facts to make them fit the happy-go-lucky narrative that you want to be true.

[better days]

well before you said the NFL doesn't want a team in LA because the fans don't support it, so make up your mind.

If the NFL didn't approve the lease, they would essentially have been forcing Ralph to move when he didn't want to. That's a terrible precedent for the other current owners and potential future owners. It would have been detrimental to the league.

So, what you are saying makes no sense. You are twisting facts to make them fit the happy-go-lucky narrative that you want to be true.

My mind is made up.

The NFL DID APPROVE of the lease with Erie County.

But I read that people from LA WANTED to buy the Bills but backed out after seeing the restrictions in place to keep them in Buffalo.

And we all know about Bon Jovi & the Toronto group.

FACTS are FACTS. I am not twisting them.

[OpIv37]

My mind is made up.

The NFL DID APPROVE of the lease with Erie County.

But I read that people from LA WANTED to buy the Bills but backed out after seeing the restrictions in place to keep them in Buffalo.

And we all know about Bon Jovi & the Toronto group.

FACTS are FACTS. I am not twisting them.

Well first, you aren't twisting the facts on the lease. You are just completely misinterpreting the reasons behind why the NFL did it.

Second, the restrictions on keeping the team in Buffalo aren't fact until you prove it. You keep saying it, but you have yet to provide a link or explain why the Toronto group is still involved if such restrictions exist.

[better days]

Well first, you aren't twisting the facts on the lease. You are just completely misinterpreting the reasons behind why the NFL did it.

Second, the restrictions on keeping the team in Buffalo aren't fact until you prove it. You keep saying it, but you have yet to provide a link or explain why the Toronto group is still involved if such restrictions exist.

A matter of public record does not need to be proved.

And no I am not misinterpreting the reasons the lease was approved.

It was approved because the NFL does not want to see the Bills moved.

[WagonCircler]

We don't have any players worth first round picks and if we do, we should keep them. And this assumes that some other team will be willing to trade out of the first round.

And if we trade up to get a QB, by exchanging our good picks/players, we are setting him up to fail by not having talent around him.

CJ Spiller and EJ Manuel would get us into the first, plus extra pick(s).

Now that we have Orton, that would be doable.

[Bill Cody]

Seems pretty clear to me, based on the ESPN article stating that the process is unsealed (otherwise known as open).


-Bill

Open bids means the main goal of the trust is to maximize the sales price

[trapezeus]

The NFL approving the lease has nothing to do with whether they want the team in Buffalo.

The team had an owner who refused to move and there were no other cities prepared to take the team. One or both of those things may not be the case when the lease expires again.

The way you do logical gymnastics to jump to completely illogical conclusions to convince yourself that things are how you want them to be is amazing.

to a degree op. i mean, you can definitely ask the lease to be toned down significantly in its language. or simply not sign one like 3 other teams in the league have. they are playing season to season.

it is a level of support from the nfl that they agreed to such terms or a lack of reading the document. but based on all the legal cases going on in the NFL, i'm sure their lawyers know what they are agreeing to.

[trapezeus]

CJ Spiller and EJ Manuel would get us into the first, plus extra pick(s).

Now that we have Orton, that would be doable.

can't tell if you are joking. if the bills are willing to trade ej, there will be a max of 26 games he's played. can you imagine if we had a top 5 pick and we traded for a running back and an average qb and gave up our top 5 pick? and that for the "can't miss" qb?

there is no chance the bills get into the top 10 next year without having to forgo next year's first and more, again.