If anyone has an extra billion or so laying around, they’re in luck. The Buffalo Bills have officially pushed a For Sale sign into the front lawn.
According to John Kryk of the QMI Agency, the team mailed to prospective buyers on Wednesday a non-disclosure agreement and “teaser” sale documents.
The materials went to those who expressed an intention to make an offer. It’s possible that the documents were sent to other potential buyers identified by Morgan Stanley, hired by the Bills to get the deal done.
The expected bidders include former Sabres owner Tom Golisano, former New Jersey Generals owner Donald Trump, current Sabres owner Terry Pegula, and a Toronto-based group including Jon Bon Jovi and Larry Tanenbaum.
Trump remains viable contender primarily because he and/or those close to him insist he is.
“Donald Trump continues to remain interested in exploring the opportunity to acquire the Buffalo Bills,” executive vice-president and special counsel to Trump Michael Cohen told Kryk.
“Financially he is more than capable of buying the team on his own,” Cohen said. “Whether he does, or elects to syndicate, is something he will decide at a later date.”
Eventually, a bid from someone will be accepted by four trustees. The sale will then require approval by the league at large; votes from 24 owners will get the deal done.
The standard for choosing a buyer isn’t known. If it’s based on the highest offer, there’s a chance a buyer who intends to move the team will be in position to fashion the best offer, since the value of the franchise would increase significantly if it were moved to a market like Los Angeles.