Did Ralph Already Grant Toronto An Option To Buy?

[Delete This Account]

Humor aside, let's talk about it. Serious question - - how much money do you think it takes to have a controlling interest in an NFL franchise?

it's difficult to assess Tanenbaum's worth when it comes to having cash on hand. i've read reports where his estimated worth is between $500 million and $1 billion or so. however, much of that worth is tied up in his interest in MLSE. and i can't see Larry giving up his shares in MLSE and a business he enjoys to go gamble on an NFL franchise, as well as the new stadium that would have to go with it.

 

Ted Rogers wasn't an NFL man, but he was a big Toronto booster and a visionary, who had both the resources and the willpower to go after this deal and make it work.

Tanenbaum was brought in, but regarded as a minor player. and as i've noted, i don't believe he's still tied to the Bills-In-Toronto series.

 

the way it's been explained to me, there are a limited number of people with the type of money to take a run at an NFL franchise.

one of those would be the Oilers new owner, the Rexall guy (Katz, i think). another would be Balsillie, the RIM guy. the Bronfman's are out of sports. Jim Pattison in Vancouver might have the money, but he's not into the sports business. and the Rogers family hasn't expressed much interest in pushing this NFL thing forward.

 

it should also be noted that while the Ontario Teachers Pension Fund has control of MLSE, the NFL would not allow a similar arrangement when it comes to owning one of its franchises.

 

let's remember, establishing a franchise in Toronto is close to a $2 billion proposition. first you have to buy the team. then you have to find it a place to play. i'm not saying its not doable ... but ...

 

jw

[ICanSleepWhenI'mDead]

it's difficult to assess Tanenbaum's worth when it comes to having cash on hand. i've read reports where his estimated worth is between $500 million and $1 billion or so. however, much of that worth is tied up in his interest in MLSE. and i can't see Larry giving up his shares in MLSE and a business he enjoys to go gamble on an NFL franchise, as well as the new stadium that would have to go with it.

 

Ted Rogers wasn't an NFL man, but he was a big Toronto booster and a visionary, who had both the resources and the willpower to go after this deal and make it work.

Tanenbaum was brought in, but regarded as a minor player. and as i've noted, i don't believe he's still tied to the Bills-In-Toronto series.

 

the way it's been explained to me, there are a limited number of people with the type of money to take a run at an NFL franchise.

one of those would be the Oilers new owner, the Rexall guy (Katz, i think). another would be Balsillie, the RIM guy. the Bronfman's are out of sports. Jim Pattison in Vancouver might have the money, but he's not into the sports business. and the Rogers family hasn't expressed much interest in pushing this NFL thing forward.

 

it should also be noted that while the Ontario Teachers Pension Fund has control of MLSE, the NFL would not allow a similar arrangement when it comes to owning one of its franchises.

 

let's remember, establishing a franchise in Toronto is close to a $2 billion proposition. first you have to buy the team. then you have to find it a place to play. i'm not saying its not doable ... but ...

 

jw

1. According to a report by Forbes dated 8/25/10 the Buffalo Bills franchise, based on revenues and operating income for the 2009 season, is worth $799 million.

 

http://www.forbes.com/lists/2010/30/football-valuations-10_NFL-Team-Valuations_DOV.html

 

2. According to the 2006 version of the NFL Constitution & Bylaws (the most recent version that I have been able to find online), the minimum required equity interest for a controlling shareholder of an NFL club is 30%. See the preamble to "2004 Resolution FC-1A" at page 251/292 of the Constitution & Bylaws here:

 

http://static.nfl.com/static/content//public/static/html/careers/pdf/co_.pdf

 

3. Within the last 2 months, the Sporting News has reported that a controlling NFL owner's minimum allowable equity interest in the franchise remains at 30%.

 

http://aol.sportingnews.com/nfl/story/2011-03-29/nfl-business-dish-owners-discuss-easing-equity-rule-for-heirs

 

4. Thirty percent of $800 million = $240 million [no link, you'll just have to trust me]

 

5. Larry Tanenbaum's net worth has been reported as $970 million by "The 2010 Rich 100" list. I don't know the exact date upon which his net worth was estimated, but the "list" shows both his "2009 Ranking" and his "2008 Ranking," so it seems likely that the estimate of his net worth is based on 2009 figures. In any event, he is approximately the 60th richest person in Canada.

 

http://list.canadianbusiness.com/rankings/rich100/2010/displayProfile.aspx?profile=61

 

6. On March 14, 2011, the Toronto Sun reported that Larry Tanenbaum already controls 20.5% of Maple Leaf Sports & Entertainment ("MLSE"), and has a first right of refusal to buy the rest. The Toronto Sun thinks he may have the money and connections to obtain a controlling 51% interest in MLSE if he chooses.

 

http://www.torontosun.com/news/columnists/joe_warmington/2011/03/14/17615326.html

 

7. According to a Forbes journalist report dated May 12, 2011, a bidding war may be about to break out for MLSE, because the pension fund that currently owns the other roughly 80% of MLSE is exploring a sale.

 

http://blogs.forbes.com/mikeozanian/2011/05/12/maple-leaf-sports-and-entertainment-will-fetch-2-25-billion-sports-banker/

 

"A Canadian-based sports banker familiar with the discussions on the sale of Maple Leaf Sports & Entertainment by the Ontario Teachers’ Pension Fund says it is highly likely that either Bell Canada Enterprises or Rogers Communications will eventually pay $2.25 billion for MLS&E. This person spoke on the condition of because of anonymity because they are not authorized to disclose information on the talks."

 

"Although $2.25 billion seems way too rich, the purchase of the Montreal Canadiens by Geoffrey Molson in 2009 for $575 million showed the premium being applied to hockey teams in Canada for their programming could push the value of MLSE well above $1 billion."

 

8. Let's be conservative and say MLSE sells for only $1 billion. Tanenbaum's 20.5% stake in MLSE alone will gross $205 million dollars (admittedly before taxes). Personally, I hope he does exercise his existing right-of-first-refusal to buy MLSE, because if he does that, he'll have less cash to throw at the Buffalo Bills franchise.

 

9. If the Toronto press, which presumably has better sources than even you in this matter, thinks that Tanenbaum has the money and connections to obtain a 51% controlling interest in MLSE, which Forbes thinks is worth around $1 billion, I don't understand why Tanenbaum would not have the resources to obtain a 30% stake (all that the NFL requires of a controlling owner) in the Buffalo Bills franchise, which Forbes estimates to be worth less.

 

10. I don't know if he is still involved in the Bills In Toronto Series or not. Is the same source (Phil Lind?) telling you that (1) Tanenbaum doesn't have the resources and connections to buy the Buffalo franchise, and (2) Tanenbaum was only a minor player in the Bills In Toronto Series who may no longer even be involved? If so, that source may have an agenda, and you might want to independently confirm the info you're getting if you can.

 

11. Tanenbaum thinks long term. If you still think that he doesn't have the resouces to swing buying an NFL franchise and getting a Toronto stadium built, why does he have to do it simultaneously? What's to prevent him from buying an NFL franchise, and then operating it in place while he continues to seek a new stadium in Toronto? He would be in a much better position to seek stadium approvals if he already owned a franchise.

 

12. I am still planning to address the three points from your first post in this thread, but it may take a little while before I can get to it.

 

Anyway, just my 2 cents.

Edited May 21, 2011 by ICanSleepWhenI'mDead

[Delete This Account]

Tanenbaum's primary interest is in MLSE. and you have to be careful when it comes to what he's worth. what he's worth includes his assets, a majority of that is his interest in MLSE. he would have to cash that in in order to take a run at anything else, which would be counter-intuitive, given that his primary interest is controlling MLSE.

in this equation, it's one or the other, and his interest in an NFL franchise is secondary at best.

 

also, i've spoken to numerous people about Tanenbaum when this deal was first struck. the Bills-In-Toronto series was largely -- almost solely -- Rogers production. in fact, wouldn't you find it curious that Rogers budgeted in paying all the money to fund the series. the $78 million was on their books. there was no mention of Tanenbaum or any other outside involvement.

 

as for your stadium stuff, there is no reason to believe Canadian or Ontario taxpayers will pony up a large chunk of cash for a new stadium. a large amount is going to have to come from private sources.

 

jw

[Doc]

Tanenbaum's primary interest is in MLSE. and you have to be careful when it comes to what he's worth. what he's worth includes his assets, a majority of that is his interest in MLSE. he would have to cash that in in order to take a run at anything else, which would be counter-intuitive, given that his primary interest is controlling MLSE.

in this equation, it's one or the other, and his interest in an NFL franchise is secondary at best.

 

also, i've spoken to numerous people about Tanenbaum when this deal was first struck. the Bills-In-Toronto series was largely -- almost solely -- Rogers production. in fact, wouldn't you find it curious that Rogers budgeted in paying all the money to fund the series. the $78 million was on their books. there was no mention of Tanenbaum or any other outside involvement.

 

as for your stadium stuff, there is no reason to believe Canadian or Ontario taxpayers will pony up a large chunk of cash for a new stadium. a large amount is going to have to come from private sources.

How much would it cost to upgrade the Rogers Center? Would it be worth it?

[Delete This Account]

How much would it cost to upgrade the Rogers Center? Would it be worth it?

wouldn't know the costs, but it would be a major project. and could they do it without disrupting Blue Jays' season?

 

jw

[ICanSleepWhenI'mDead]

to answer your question, Did Ralph Already Grant Toronto An Option to Buy:

it's highly unlikely, vastly improbable. i've spoken to enough people on both sides of the border to make this statement. entering a five-year agreement with Rogers and entering a sale agreement to purchase the team are two different animals altogether.

 

-- third, lack of a game-ready stadium, requirement of NFL approval, political ramifications on both sides of the border all stand as significant obstacles for a deal to become reality.

 

jw

Since y'all are already talking about an aspect of the third point anyway, let's start there.

 

as for your stadium stuff, there is no reason to believe Canadian or Ontario taxpayers will pony up a large chunk of cash for a new stadium. a large amount is going to have to come from private sources.

 

jw

I tend to agree with you that this may be true today, but don't you think the situation might have been different back when the Bills In Toronto Series was being negotiated? That's the more relevant time frame for what we are discussing, because we're trying to figure out what terms the various parties might have bargained for when making the deal.

Edited May 21, 2011 by ICanSleepWhenI'mDead

[Nanker]

When the story came out originally, I stated that a 90 year old multimillionaire who hasn't already done estate planning is a very unlikely scenario. There is a far greater likelihood that an owner in their 50s - 60s would be doing such a thing. Or, perhaps someone like Pharaoh JerriJones who want to assure his legacy in Texas and have that domed pyramid forever known as his.

[Delete This Account]

Since y'all are already talking about an aspect of the third point anyway, let's start there.

 

 

I tend to agree with you that this may be true today, but don't you think the situation might have been different back when the Bills In Toronto Series was being negotiated? That's the more relevant time frame for what we are discussing, because we're trying to figure out what terms the various parties might have bargained for when making the deal.

the deal was negotiated for 5 years. from what i understand, talks were strictly limited to that. 5 years.

 

jw

[ICanSleepWhenI'mDead]

the deal was negotiated for 5 years. from what i understand, talks were strictly limited to that. 5 years.

 

jw

1. Let me start by saying that I've read a few of your articles and enjoyed them. If we were talking about the relative advantages of the 4-3 versus the 3-4 defense, or where the QB's hot read is when the nickel corner blitzes from the slot, or the way in which the QB adjusts O-line protection schemes at the line of scrimmage, I would tend to give your statements and opinions a lot of deference. What we are discusssing here, however, is a business deal among billionaires where the business in question just happens to involve football. I am not being disrespectful when I say that billionaire business deals aren't in the wheelhouse of the typical sportswriter. I wouldn't expect them to be. Although it's certainly possible, most people who invest the time and effort to get an MBA, or learn about business as entrepeneurs running their own companies, don't become sports journalists. Maybe you're the exception, but at present I have no reason to think so.

 

Because I'm just an anonymous voice on the Internet, you have no way of knowing if I even have a wheelhouse, much less where it might be. I've never claimed to have one.

 

2. It appears, however, that we both have an interest in figuring out what might happen to the Buffalo Bills franchise after Ralph Wilson passes. My interest is evidenced by this thread - - yours is evidenced by (1) the fact that you are bothering to post here, and (2) your October 12, 2010 statements on WGR, as reported here:

 

http://www.buffalorumblings.com/2010/10/12/1746725/wawrow-speculates-on-possible-bills-succession-plan

 

"From what I've heard in the background, and seen happening - without saying anything definitively, because I can't, because no one's actually told me anything - I have a better feeling that this team might be here longer, beyond Ralph Wilson, for a long time," Wawrow said. "I can't say that with certainty, but I get the sense there's work going on in the background that will make the transition easier. I can't really get into specifics, because I can't pin down the facts."

 

* * * * *

 

 

"Wawrow admitted to Simon that the possibility will always exist that the team is sold and moved once Wilson - who turns 92 this Sunday - passes away. "I'm not saying this is a guarantee," Wawrow continued. "I'm probably at maybe 65-70, 30-35 in thinking the Bills are staying here."

 

* * * * *

 

" . . . I know the NFL wants a market in this region - and I'm speaking to the Toronto/Buffalo corridor . . ."

 

 

 

3. When you scoffed above in this thread at the notion that Toronto businessman Larry Tanenbaum had sufficient money to buy a controlling interest in an NFL franchise, and stated that he might be able to do so if he won the lottery twice, I bit my tongue. Rather than criticizing your opinion or flaming you, I provided you with a relatively detailed analysis, based on facts supported by links to things like the NFL Constitution & Bylaws, Forbes magazine and a Toronto newspaper, showing that your opinion seemed to be incorrect.

 

4. Because you "have spoken . . . to people on both sides of the border" about the Bills In Toronto Series, it is sometimes difficult to tell if your comments in this thread are your own opinions as a sportswriter, or if you are simply paraphrasing what your presumably knowledgeable sources actually said.

 

For example, on the stadium financing issue, you said:

 

"as for your stadium stuff, there is no reason to believe Canadian or Ontario taxpayers will pony up a large chunk of cash for a new stadium. a large amount is going to have to come from private sources."

 

5. I would expect a Toronto businessman to have a reasonable basis for predicting what Canadian or Ontario taxpayers might do. I'm not asking you to give me a specific name, but is that statement (a) your own opinion as a sportswriter, or (b) paraphrasing what a source knowledgeable about the Bills In Toronto deal told you shortly after the deal was made?

 

I'd really like to know which, so I can better evaluate the credibility of that statement. Thanks.

 

And I do enjoy most of your articles - - I think they're generally well-written and informative.

Edited May 23, 2011 by ICanSleepWhenI'mDead

[KD in CA]

original post........................................

 

 

*Wheh* I feel like I just watched that Loose Change video from the 9-11 conspiracy guys. I even started hearing the spooky music.

[JB_55]

i just wish you had provided more detail

 

I just blew gatorade out of my nose... thanks!

[Buffalo_Stampede]

So after 50+ years, at 90+ years of age Ralph finally gives in and sells the Bills?

[eball]

Lots of facts, but none of them even suggest proof that anyone in Toronto has been granted right of first refusal to buy the Bills. Relax, they aren't going anywhere.

You know, there's a little thing called "Fast Reply" at the bottom of each page so you can add a thought without having to quote an entire post -- particularly one as lengthy as the OP.

 

Just an FYI...

[ICanSleepWhenI'mDead]

wouldn't know the costs, but it would be a major project. and could they do it without disrupting Blue Jays' season?

 

jw

If I knew anybody who was trying to figure out if the Rogers Centre could be expanded, or if the looney Councilman's "dig down" theory made any sense, I might suggest that such person contact this guy:

 

http://rod-robbie.co.tv/

 

"Roderick George Robbie, OC (born 1928) is a Canadian architect. He is known for his design of the Canada Pavilion at Expo 67 and Toronto's Rogers Centre.

 

Born in Poole, England, Rod Robbie is the Chairman Emeritus of Robbie Young + Wright / IBI Group Architects and was Partner-in-Charge on most of the firm’s largest and most complex projects. He has achieved recognition as a result of his role as Architect of the Toronto SkyDome. He has considerable expertise in programming, and systems architecture combined with a detailed technical and practical understanding of high performance industrial and laboratory facilities.

 

In 2003, he was made an Officer of the Order of Canada as "an architect known for his innovation". http://www.gg.ca/honours/search-recherche/honours-desc.asp?lang=e&TypeID=orc&id=8007 In 1989, he was made a Fellow of the Royal Architectural Institute of Canada."

 

================================

 

I won't burden this thread with ALL the info about him from the above link, but at 82 or 83 he's a widower who probably has retired by now with no one to talk to, and if he's still as sharp as Ralph was at that age, I bet somebody could charm ol' Roderick into talkin' about the good old days (including British Army service in Egypt), slip in a few questions about how the Rogers Centre could be expanded, and get some useful information.

 

Just sayin'

Edited May 24, 2011 by ICanSleepWhenI'mDead

[Mr. WEO]

Why do you keep mentioning Tannenbaum and the 30% rule for ownership? Who is coming in with the other 70%?

[Fingon]

it's difficult to assess Tanenbaum's worth when it comes to having cash on hand. i've read reports where his estimated worth is between $500 million and $1 billion or so. however, much of that worth is tied up in his interest in MLSE. and i can't see Larry giving up his shares in MLSE and a business he enjoys to go gamble on an NFL franchise, as well as the new stadium that would have to go with it.

 

Ted Rogers wasn't an NFL man, but he was a big Toronto booster and a visionary, who had both the resources and the willpower to go after this deal and make it work.

Tanenbaum was brought in, but regarded as a minor player. and as i've noted, i don't believe he's still tied to the Bills-In-Toronto series.

 

the way it's been explained to me, there are a limited number of people with the type of money to take a run at an NFL franchise.

one of those would be the Oilers new owner, the Rexall guy (Katz, i think). another would be Balsillie, the RIM guy. the Bronfman's are out of sports. Jim Pattison in Vancouver might have the money, but he's not into the sports business. and the Rogers family hasn't expressed much interest in pushing this NFL thing forward.

 

it should also be noted that while the Ontario Teachers Pension Fund has control of MLSE, the NFL would not allow a similar arrangement when it comes to owning one of its franchises.

 

let's remember, establishing a franchise in Toronto is close to a $2 billion proposition. first you have to buy the team. then you have to find it a place to play. i'm not saying its not doable ... but ...

 

jw

Wouldn't the owners also assess a relocation fee to whoever is trying to move the team?

Edited May 24, 2011 by Fingon

[robertpaul49]

It is certainly feesible that the Bills will be purchased and moved to Toronto. Whoever purchases the franchise will probably not use their own cash, they will finance the purchase. I think that it is too early to say what will happen because Ralph is still alive.

 

There are issues with moving the team to Toronto:

1) Will the Buffalo fanbase support a Toronto team? Will the fan base support a foreign sports team? Will the new team need to find a new fanbase?

2) Will the people in Toronto support an American football team? Will the new team have the same type of support as NBA team?

3) Do the owners feel the new owner will fit in the existing owners? They will want someone who is willing to spend the money to increase fanbase.

4) Political implications: Upstate is generally republican vs NYC which is Democratic so upstate becomes a swing vote for a lot of state-wide elections. If upstate keeps this role, the politicians will be deeply involved in keep the Bills in Buffalo, i.e. Chuck Shumer. If upstate loses this role, there will be less political influence in the sale of the Bills after Wilson's death.

 

Personally, I think the best solution is the move the team to Niagara Falls, and I think the state should subsidize it by the same amount as the Yankees Stadium and Citi (TARP) Field.

[Delete This Account]

If I knew anybody who was trying to figure out if the Rogers Centre could be expanded, or if the looney Councilman's "dig down" theory made any sense, I might suggest that such person contact this guy:

 

http://rod-robbie.co.tv/

 

"Roderick George Robbie, OC (born 1928) is a Canadian architect. He is known for his design of the Canada Pavilion at Expo 67 and Toronto's Rogers Centre.

 

Born in Poole, England, Rod Robbie is the Chairman Emeritus of Robbie Young + Wright / IBI Group Architects and was Partner-in-Charge on most of the firm’s largest and most complex projects. He has achieved recognition as a result of his role as Architect of the Toronto SkyDome. He has considerable expertise in programming, and systems architecture combined with a detailed technical and practical understanding of high performance industrial and laboratory facilities.

 

In 2003, he was made an Officer of the Order of Canada as "an architect known for his innovation". http://www.gg.ca/honours/search-recherche/honours-desc.asp?lang=e&TypeID=orc&id=8007 In 1989, he was made a Fellow of the Royal Architectural Institute of Canada."

 

================================

 

I won't burden this thread with ALL the info about him from the above link, but at 82 or 83 he's a widower who probably has retired by now with no one to talk to, and if he's still as sharp as Ralph was at that age, I bet somebody could charm ol' Roderick into talkin' about the good old days (including British Army service in Egypt), slip in a few questions about how the Rogers Centre could be expanded, and get some useful information.

 

Just sayin'

i would not discount the dig-down plan.

 

jw

[Tcali]

It is certainly feesible that the Bills will be purchased and moved to Toronto. Whoever purchases the franchise will probably not use their own cash, they will finance the purchase. I think that it is too early to say what will happen because Ralph is still alive.

 

There are issues with moving the team to Toronto:

1) Will the Buffalo fanbase support a Toronto team? Will the fan base support a foreign sports team? Will the new team need to find a new fanbase?

2) Will the people in Toronto support an American football team? Will the new team have the same type of support as NBA team?

3) Do the owners feel the new owner will fit in the existing owners? They will want someone who is willing to spend the money to increase fanbase.

4) Political implications: Upstate is generally republican vs NYC which is Democratic so upstate becomes a swing vote for a lot of state-wide elections. If upstate keeps this role, the politicians will be deeply involved in keep the Bills in Buffalo, i.e. Chuck Shumer. If upstate loses this role, there will be less political influence in the sale of the Bills after Wilson's death.

 

Personally, I think the best solution is the move the team to Niagara Falls, and I think the state should subsidize it by the same amount as the Yankees Stadium and Citi (TARP) Field.

I agree on Niagara falls. Build on the Indian reservation.Buffalo Bill--Wild West show at halftime. Smoke signals...Would be a huge fan draw not just in western NY and South Ontario but worldwide.Give a small chunk of the team to the tribe and get outrageous tax breaks.-Plenty of unused land to build on.Just as convenient to get to for Buffalonians and Rochesterians--and easier for the Canadians.And they would still be the Buffalo Bills.

[ICanSleepWhenI'mDead]

Why do you keep mentioning Tannenbaum and the 30% rule for ownership? Who is coming in with the other 70%?

A lot of my most recent posts in this thread mention Tanenbaum because there seemed to be a difference of opinion about what he was worth, and that resulted in some discussion directed to that specific topic. My OP suggested that if the Toronto businessmen involved in the Bills In Toronto Series deal received an option to buy or a right of first refusal to buy the Buffalo Bills franchise as part of that deal, such result would not be inconsistent with any public statements Ralph has made since then (as far as I know). My OP mentions Tanenbaum as one of the businessmen involved in the Toronto side of the deal, but it's hard to figure out exactly what business entity or entities the Toronto businessmen may have formed or used for the purpose of reaching their business objectives. The media reports about the deal frequently mention Ted Rogers and Larry Tanenbaum, but that doesn't mean that either of those two men signed a Bills In Toronto Series contract that personally obligated them to do anything in their individual capacity. The media reports also mention Rogers Communications, Inc., the company that Ted Rogers controlled. That doesn't rule out the possibility, however, that one or more other business entities were parties to whatever final contract documents resulted from the negotiations.

 

Likewise, the media reports about the deal frequently mention Ralph Wilson, but that doesn't mean that Ralph Wilson signed a contract in his individual capacity that obligated him to personally do anything. You wouldn't know it from reading any of the media reports about the deal, but it is almost certain that the business entity on the Buffalo side of the deal was Buffalo Bills, Inc. - - because that is the legal entity that actually owns the Buffalo Bills franchise. Ralph Wilson is commonly referred to as the "owner" of the Buffalo Bills because he is at least the controlling shareholder, and as far as we know the only shareholder, of Buffalo Bills, Inc.

 

You are correct that in order for Tanenbaum (or more specifically a business entity that Tanenbaum owns and controls) to buy the Buffalo Bills franchise, a full 100% of the purchase price has to be put together somehow. I can't give you specific names identifying who might contribute the other 70%. What I can tell you, as explained at length in my post # 62 above, is that the Toronto Sun is more likely than anybody posting here to have an informed opinion about whether Tanenbaum has the financial ability and connections to assemble a group that would have the capability of making the purchase. I'm sure that Tanenbaum, through some business entity he controls, would prefer to put up at least 51% of any future purchase price if he could, so that he would be assured of being able to control the franchise in the future.

 

The Toronto Sun never opined about Tanenbaum's ability to purchase the Bills - - but they did suggest that he has the ability to put together a package to buy MLSE. Forbes is a pretty respected source of financial information, and Forbes estimates that MLSE is worth more than the Buffaalo Bills NFL franchise. That makes it pretty easy to conclude that if somebody buys Tanenbaum's existing stake in MLSE, Tanenbaum is likely to have the resources and connections to assemble a group to buy the Buffalo Bills, even if he needed the help of other investors to come up with the full 100% purchase price.

 

I'm no expert at Canadian politics, so I'm not sure how much weight to give this, but it was reported in November, 2005 that Tanenbaum once had some sort of fund raising responsibilities for one of the Canadian political parties.

 

http://www.canada.com/news/national/story.html?id=04aa03e3-e25c-4724-8017-71d70c3b93b0&p=1

 

"Yesterday, Mr. Harper released an invitation from the Liberal party's National Revenue Chairman, Lawrence Tanenbaum, offering a private audience with the Prime Minister for donations of $5,100 per person, the most that political parties can collect from individuals under election financing laws."

 

I'm not absolutely certain it's the same Tanenbaum but it seems likely - - I haven't tried to pin it down because the Toronto Sun/Forbes analysis is good enough for me - - I could be wrong. Maybe one of our Canadian posters could confirm that it's the same guy?

 

P.S. Even if you think my ideas are nuts about the possibility of an option or right of first refusal to buy the Bills being granted in the existing Toronto deal, you might still be interested in Tanenbaum's capabilities. Even if there's no existing option or right of first refusal in place, Tanenbaum is one of the potential bidders if the Bills are sold by Ralph's estate after his death.

Edited May 26, 2011 by ICanSleepWhenI'mDead