Tags: buffalo bills | sale | search | buyers

Buffalo Bills: Sale Imminent as Team Begins Search for Buyers

By    |   Thursday, 19 Jun 2014 06:21 PM

The Buffalo Bills are soliciting bidders, a move that puts the team officially up for sale in a deal that may top $1 billion, the Toronto Sun reported.

QMI Agency’s John Kryk, writing for the Sun, quoted an anonymous source that said the Bills sent prospective buyers a seven-page nondisclosure agreement and a sale document. The agreement has to be signed before a sale book will be given to anyone thinking about throwing their wallet in the ring to bid on the Bills.

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The trust overseeing the Bills sale hired Morgan Stanley and Proskauer Rose to handle the sale process and on May 21 said the prospective buyers will be contacted in the next 30 days, the Sun said. Wednesday fell just under that mark at 28 days.

Speculation abounds on who the bidders may be, with names like Tom Golisano, Donald Trump, and groups of buyers that include Jon Bon Jovi and Larry Tanenbaum.

With a sale price around $1 billion and an NFL rule that says only $200 million can be borrowed, there aren’t hundreds of buyers lining up.

Kryk contacted Trump spokesperson Michael Cohen about the possibility of a sale, and he said, “Donald Trump continues to remain interested in exploring the opportunity to acquire the Buffalo Bills. Financially he is more than capable of buying the team on his own; whether he does, or elects to syndicate, is something he will decide at a later date.”

Bills owner Ralph Wilson died in March and it was expected that his widow, Mary Wilson, would sell the team.

As the future owners of the team are debated, the Bills players got a surprise visit Thursday from former quarterback Jim Kelly, who is fighting sinus cancer.



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The Buffalo Bills are soliciting bidders, a move that puts the team officially up for sale in a deal that may top $1 billion, the Toronto Sun reported.
buffalo bills, sale, search, buyers
376
2014-21-19
Thursday, 19 Jun 2014 06:21 PM
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