http://www.forbes.com/sites/mikeozan...into-a-circus/
The sale of the Buffalo Bills has evolved into an event Ringling Bros and Barnum & Baily would have been proud of.
[More at link]
http://www.forbes.com/sites/mikeozan...into-a-circus/
The sale of the Buffalo Bills has evolved into an event Ringling Bros and Barnum & Baily would have been proud of.
[More at link]
Funny piece.
"Here’s what I think: Pegula has not as of yet offered anything close to $1.3 billion. Trump stands about as much of a chance as being approved by the league to buy the Bills as I do, and the Toronto group is maybe at $1.1 billion."
Yeah, he's got his finger on the pulse of reality.
Click bait. No information, just trying to steal some sports traffic by being a dick. Don't click it. Don't read it. Don't play with dicks.
Dr. Lecter (08-01-2014),kishoph (08-01-2014),YardRat (08-01-2014)
Or maybe the deadline was not a solid deadline at first. Or maybe they want more than 2 "real" bidders (excluding Trump)
The guy could be right. But he seems to speculate a lot and likes to throw out terms like circus to sensationalize the process
Originally Posted by mysticsoto
But a funny thing happened. There was scant interest in buying the Bills. Of the 60 non-disclosure agreements Morgan Stanley sent out, only three offers have come in–Bon Jovi’s band, Trump and Pegula.
That is the part that should be of concern to the Bills remaining in Buffalo after the current lease expires.
It looks like Pegula will be purchasing the Bills now, but to assume he will then put in his own money into a new stadium for a team that is unattractive to purchase is a huge leap in faith.
The economic fundamentals are simply not there can be the only reason interest in purchasing the Bills and keeping them in Buffalo is so low.
Fletch (08-01-2014)
I don't know whether he knows something or not. I've never been a fan of his writing, so I generally avoid it. I just feel that he fancies himself as witty and comical when he is neither. He's generally annoying in my opinion, so I didn't read the article once I saw who the author was. Other than that, I actually enjoy most of Forbes' writers.
No concern at all to Bills fans.
Most likely only three offers because of restrictions tied into the sale of the Bills & everyone knows Pegula will get the team...................& keep it in BUFFALO.
SUCK IT.
Since you are the one that believes the Bills are a charity case perhaps it is you that should do the sucking.
Having been involved in numerous M&A auctions as part of my day job, I think the piece in the article about extending bid deadlines is a bit disengenous. Even in non-robust auctions where there are a limited number of bidders there is typically a second round of the process where additional due diligence materials are made available to the bidders who are chosen to move to the next round.
For sure, the bankers and everyone else involved will try and use Trump and the Bon-Jovi group to drive up the price Pegula is willing to pay. No doubt he is the preferred bidder at this point (there usually is).
They've confirmed that from day one. Even the local articles have said that the trust has within its authority to change the dates/deadlines.
Whether they will or not, and it sounds like they may, is another thing.
I NEVER said they were a Charity case......................you did.
I said people that LOVED BUFFALO & the BILLS would make sure the team stayed in BUFFALO.
Now run/skip along & suck on your gay girly drink Spiked Lemonade.
Last edited by better days; 08-01-2014 at 09:49 AM.
Or, alternatively, some of these people got scared off because of how serious Pegula is and they decided not to worry about.
I don't know if that is the truth or not, but it is certainly feasible
That was planned and is still happening. The Bills are to give more financial disclosure and then the bidders are to make binding bids.
That hasn't changed.
What has changed is an extension of the initial deadline in an attempt to obtain more than 3 bidders.
There is nothing wrong with that but it is only done when the process does not get enough initial bidders.
I figured that would be the spin, but the truth is if the Bills were that attractive in Buffalo, more big money would have showed up given how rarely NFL teams go up for sale.
Come on though, it has to be nothing but disappointing that there were only 3 bidders and that one of them was Trump. I'm of the opinion, as are many, that Trump just put his two-cents in just to get in on the process for the headlines and just in case something like this happened, with few bidders.
Either way, there's a reason why there were not more bidders. I mean can you imagine the NY Giants being sold and only 3 bidders, one being Trump? I can't, not for a second.
There's a reason and the only thing that makes sense is that others were scared off by stipulations that may exist, likely that potentially poison-pill lease in Buffalo. It sounds good on paper for us fans, and it's a dam good thing that we have a guy like Pegula that's willing to overbid to keep the team here, bless his soul, but that's hardly normal.
As to the bankers involved, they'll take their directions from what's in the trust. Do we even know that it's a bidding process? Sounds to me like it's a secret bid process. There's a huge difference. Also, we still don't know, despite the claims of some people here, whether the trust is obligated to sell to the highest bidder. We really know very little to nothing despite how much some claim to know about it. We should learn more very soon, but if they extend this first round of bidding it'll be longer before we find out.
Possibly, but what makes more sense to you, them being scared off because of that, or them being scared off because they would be forced to keep the team in Buffalo with an economy that's more suited to a welfare state than it is to economic development?
We all assume the best, but again, and looking at if from a potential owner's standpoint, maybe there was too much in the NDA material that made the business sense and aspect to the purchase of the team less than optimal to be kind.
There are few people that can match the money Pegula has that would also want to buy the team in Buffalo.
I don't think anybody would deny that a team could make more money elsewhere.
but, it certainly appears Ralph's last act with the team was to construct a lease and non-relocation agreement that made the team hard to move.
Of course, that is contrary to the spin that he did NOTHING to help keep the team here.
YardRat (08-01-2014)
And since the trust had the option of not extending that deadline, we are left to assume that they were not happy with that fact.
If their goal was to try to sell to Pegula, I have no idea why they'd want more bidders, it would seem to me that they'd have been happy to take Pegula's offer, which is more than that of the selling price of any other NFL team in history. If we had polled everyone as to whether or not the team would sell for more than the $1.1B that the Fins did, I doubt many would have said yes prior to this information.
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