Bangarang Posted July 25, 2014 Posted July 25, 2014 I'm not worried about JBJ or all this Toronto nonsense. This team will be owned by Pegula in just a few months. He's building a sports empire in Buffalo.
GG Posted July 25, 2014 Posted July 25, 2014 Thanks GG and John. I was wondering if a new owner had standing to renegotiate or force a renegotiation. What if the previous owner had signed a particularly onerous lease immediately prior to his death. Would the new owner have no recourse? As JohnC said, it's the buyer's responsibility to do proper due diligence. The stadium lease is part of the documents that Morgan Stanley prepared for all bidders to examine. The terms of the lease are ironclad until 2019. Any buyer can try to renegotiate a contract after they win. But the other party to the contract has to agree, and I don't think Erie County & NYS are in a negotiating mood.
Kemp2Warlick Posted July 25, 2014 Posted July 25, 2014 John Kryk @JohnKryk 37s Re the Toronto group bidding on the #Bills. Answers to 5 vital Qs, re where their bid stands, per sources: http://blogs.canoe.ca/krykslants/nfl/where-things-stand-with-the-toronto-group-bidding-on-the-buffalo-bills-answers-to-5-vital-questions-via-sources/ …
Tyrod's Tailor Posted July 25, 2014 Posted July 25, 2014 John Kryk @JohnKryk 37s Re the Toronto group bidding on the #Bills. Answers to 5 vital Qs, re where their bid stands, per sources: http://blogs.canoe.ca/krykslants/nfl/where-things-stand-with-the-toronto-group-bidding-on-the-buffalo-bills-answers-to-5-vital-questions-via-sources/ … Sounds pretty safe to me
Bangarang Posted July 25, 2014 Posted July 25, 2014 John Kryk @JohnKryk 37s Re the Toronto group bidding on the #Bills. Answers to 5 vital Qs, re where their bid stands, per sources: http://blogs.canoe.ca/krykslants/nfl/where-things-stand-with-the-toronto-group-bidding-on-the-buffalo-bills-answers-to-5-vital-questions-via-sources/ … Thanks for the link. Good read
dave mcbride Posted July 25, 2014 Posted July 25, 2014 John Kryk @JohnKryk 37s Re the Toronto group bidding on the #Bills. Answers to 5 vital Qs, re where their bid stands, per sources: http://blogs.canoe.ca/krykslants/nfl/where-things-stand-with-the-toronto-group-bidding-on-the-buffalo-bills-answers-to-5-vital-questions-via-sources/ … Thanks - very informative piece. Between Kryk and JW, we're really on top of this.
Kelly the Dog Posted July 25, 2014 Posted July 25, 2014 John Kryk @JohnKryk 37s Re the Toronto group bidding on the #Bills. Answers to 5 vital Qs, re where their bid stands, per sources: http://blogs.canoe.ca/krykslants/nfl/where-things-stand-with-the-toronto-group-bidding-on-the-buffalo-bills-answers-to-5-vital-questions-via-sources/… That's actually a very good article. I would advise anyone to read it carefully. It's not really any substantial new information but it sums a lot of it up, and it shows pretty much that the Bills are not going to be leaving. Granted, Kryk has been saying this for quite some time. But he uses a lot of facts, sources, and common sense to come to that conclusion.
Peter Posted July 25, 2014 Posted July 25, 2014 Thanks - very informative piece. Between Kryk and JW, we're really on top of this. It is ironic that the two guys that keep us the most informed are Canadian. I love Canadians. I always will. We are like brothers. Even my Canadian friends know that the Bills belong in Buffalo.
DCBongo Posted July 25, 2014 Posted July 25, 2014 Has anyone noticed all the JBJ talk but no one is talking about Jim Kelly or Pegual or Gallisanno? JBJ is going to get the hype, but there will be more bidders with deep pockets who want to keep the team in Buffalo. Lets hold off the panic... for now. Have a Summah!
ET1062 Posted July 25, 2014 Posted July 25, 2014 Warrow and Kryk are making the boys at the Buffalo Snooze look like hacks.
Peter Posted July 25, 2014 Posted July 25, 2014 Warrow and Kryk are making the boys at the Buffalo Snooze look like hacks. So true. As a side note, after the Pegulas buy the team to keep it in Buffalo, these hacks sadly will continue to trash them. I am glad that people have caught on to their BS.
CodeMonkey Posted July 26, 2014 Posted July 26, 2014 That's actually a very good article. I would advise anyone to read it carefully. It's not really any substantial new information but it sums a lot of it up, and it shows pretty much that the Bills are not going to be leaving. Granted, Kryk has been saying this for quite some time. But he uses a lot of facts, sources, and common sense to come to that conclusion. Interesting, I didn't get that take at all. It was well written and very level headed. Put forth the facts, at least as much as are known, and some speculation by experienced people. I didn't walk away thinking JBJ was the next owner by any means, but I didn't get the sense from that article that he wasn't either. All in all a very fair piece,
Kelly the Dog Posted July 26, 2014 Posted July 26, 2014 Interesting, I didn't get that take at all. It was well written and very level headed. Put forth the facts, at least as much as are known, and some speculation by experienced people. I didn't walk away thinking JBJ was the next owner by any means, but I didn't get the sense from that article that he wasn't either. All in all a very fair piece, How could you possibly not think that when he laid out all kinds of reasons why the Bills were staying, and then the only way they are leaving is "If the trust doesn’t really care whether the team stays or goes and only wants to maximize the sale price, and if the NFL doesn’t care about said short-term lame-duck hell in Buffalo (because the NFL actually wants the team to relocate to Toronto, the thinking goes by some insiders), and if none of Pegula, Donald Trump or Western New York billionaire Tom Golisano is prepared to go much over $1 billion, and if Bon Jovi really wants to pour virtually all of his liquid net worth (and maybe liquidize other parts) into an illiquid sports team, then yes. And only then. And with no guarantee the NFL ever will approve a relocation early next decade.
JohnC Posted July 26, 2014 Posted July 26, 2014 The Problem: From now until the actual announcement that Terry Pegula is the new owner of the Buffalo Bills, there will be a series of reports of how serious the Toronto contingent is, how there are other entities not talked about a lot who are very serious bidders, how someone with a lot of money could swoop in and claim the team with deep pockets and a blow the trust out of the water bid like Steve Ballmer did... which will wreak havoc with this site and Bills fandom in general. The Reason: The NFL genuinely wants the Bills to stay in Buffalo and the NFL genuinely wants to make as much money as they can, and the NFL owners want their own franchises to be worth more money when the Bills are sold than they are now. Soooooo, the NFL is going to let all these people come to the table, and they are not going to make any public statement in favor of the team staying in Buffalo, and they are going to make Pegula and other Buffalo area bidders up their bids a little, over the 1 billion mark because of the threat simply because they want to max out the local bid. It will work, and it will make Terry pay a little more than he would have (simply because there is no way in hell the NFL is actually going to approve a Toronto bid). The Result: Overnight, each NFL franchise is going to be worth about 100-200 million more than it was before because 1.1 or 1.2b, for a small market franchise, has now become the going rate. So teams valued at 800m today will be 1b in a few months. The NFL gets exactly what it wants, but we get to keep the team here. The Job For You: Don't panic. Listen to Kirby and other level headed posters with some knowledge of the situation. Don't go apeshit over random reports of money talks. Money does talk, but the Bills are staying. I'm restating a point that has been made by K-9 and that you are pointing out in your post. A few years ago Tom Golisano was asked about what he thinks Ralph Wilson's estate plans are. He chuckled and said no one has to worry about how he will manage his estate. He said not knowing what his plans are he is confident that it will be structured in such a way that it will be proven to be beneficial for his interests yet will be fair to the region. What's "apparently" happening is that the competing bids are raising the stakes giving the estate a fair-market value for its asset while also allowing the bidder who wants to keep the team local an advantage in the auction. That is done throught the terms of the lease and through the composition of the trustees involved in the sale (noted by K-9). While the Toronto group may be maneuvering (conniving) to find a way to eventually bring the team to Canada Wilson's estate has used their participation in the auction to raise the value of their asset. The end result is that he has used them as leverage to enhance the value of his asset while affording the local bidders to stay in the game. Ralph Wilson is more than a tactical thinker when it comes to business, he is a wise strategic thinker in business and family affairs.
Kelly the Dog Posted July 26, 2014 Posted July 26, 2014 (edited) I'm restating a point that has been made by K-9 and that you are pointing out in your post. A few years ago Tom Golisano was asked about what he thinks Ralph Wilson's estate plans are. He chuckled and said no one has to worry about how he will manage his estate. He said not knowing what his plans are he is confident that it will be structured in such a way that it will be proven to be beneficial for his interests yet will be fair to the region. What's "apparently" happening is that the competing bids are raising the stakes giving the estate a fair-market value for its asset while also allowing the bidder who wants to keep the team local an advantage in the auction. That is done throught the terms of the lease and through the composition of the trustees involved in the sale (noted by K-9). While the Toronto group may be maneuvering (conniving) to find a way to eventually bring the team to Canada Wilson's estate has used their participation in the auction to raise the value of their asset. The end result is that he has used them as leverage to enhance the value of his asset while affording the local bidders to stay in the game. Ralph Wilson is more than a tactical thinker when it comes to business, he is a wise strategic thinker in business and family affairs. Yep. What I should have said was the Trust AND the NFL are allowing this to happen, and it is a smart, shrewd move. They get the most return they can get, and the city gets to keep the team. It is somewhat unfair I guess to Pegula, depending on how you look at it. He is probably going to have to shell out an extra couple hundred million than he should because the Trust and the NFL are allowing what amounts to a charade to continue. They are NOT going to give the team to the Toronto group. It makes no sense. If Pegula really wanted to he could play a little hardball and the Trust and the NFL would likely cave at the last moment. But he has the money, he risks Trump or Golisano or Gundlach, etc, making a late all in play, and he really won't be losing it, because if he pays an extra $200m the team will be worth that extra $200m. Edited July 26, 2014 by Kelly the Dog
Buffaloed in Pa Posted July 26, 2014 Posted July 26, 2014 Keep up the good work John. Your voice will be heard loud and far. Keep up the good work John . Your voice will be heard loud and far.
DJasper Probincrux III Posted July 26, 2014 Posted July 26, 2014 So true. As a side note, after the Pegulas buy the team to keep it in Buffalo, these hacks sadly will continue to trash them. I am glad that people have caught on to their BS. He could always buy the Snooze from Warren Buffett. It's got to be worth what, a buck? buck seventy five tops?
JohnC Posted July 26, 2014 Posted July 26, 2014 Keep up the good work John. Your voice will be heard loud and far. Keep up the good work John . Your voice will be heard loud and far. Jouralism at its best. JW brought to light that which was in the dark. Hiding the truth doesn't alter the truth. Truth trumping power ($$$). He deserves an exotic foreign beer. Put it on my tab.
DJasper Probincrux III Posted July 26, 2014 Posted July 26, 2014 Jouralism at its best. JW brought to light that which was in the dark. Hiding the truth doesn't alter the truth. Truth trumping power ($$$). He deserves an exotic foreign beer. Put it on my tab. LaBatt Blue it is!
Beerball Posted July 26, 2014 Posted July 26, 2014 Well, I don't believe you and I have had this conversation as of yet, but, for myself, my view of the situation, it's probably singular amongst posters, at least, I think it is. Not positive though. How many times have you flip flopped on this topic? If I remember correctly, you began doom and gloom, then it was a beautiful day in the neighborhood, now back to negative. Have I missed any flips?
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