kasper13 Posted August 5, 2014 Posted August 5, 2014 What really bothers me is Morgan Stanley letting the JBJ/TO group resubmit their initial bid. It has to be higher with more assurance the team stays. We do not know if they actually have to sell to the highest bidder. Could just be whom they feel is the best. Best for who? The Bills or the NFL? When the Boston Red Sox were for sale, they did not go to the highest bidder. Also bothers me that they broke the NDA all over the place yet it's not a big deal. MS promised an awful lot and they haven't delivered. It's turned into a circus.They are still looking for more bidders? Unless Rockefeller or Howard Hughes comes back from the dead and is a big football fan then I don't think there are any other bidders out there. Point is what if JBJ/TO comes up to $1.2 billion or a little higher? That sufficient enough to make them the best bid even though Pegula's bid is higher? Something is just not sitting right with me. Until JBJ/TO officially declares they are out, I won't be convinced they (MS/NFL) are doing everything possible to make JBJ/Toronto the owners.
yungmack Posted August 5, 2014 Posted August 5, 2014 Perhaps. But theoretically anyway, the NFL should not be involved with the process yet. You're correct, theoretically. But let's be honest, the league is deeply "interested" in every step. And even if Goodell doesn't know every clause and every phrase, he can read the paper and know that the competition for the team is very thin, and if Toronto Jonnie's group is out of the running, it's even thinner. What he and the owners would like is lots and lots of bidders driving up the price because that drives up the value of all the franchises. And Toronto Jonnie is a pal as well.
Big Turk Posted August 5, 2014 Posted August 5, 2014 No, obviously by them wanting assurances from the Toronto group the team wouldn't move, it shows that they want the highest bidder who is committed to keeping the team here, which is what likely is limiting the bids. Not many people want to pay a billion plus dollars for something and be told they can't do what they want with it. Basically at this point, the NFL wants to set a new record sale price and are probably pushing them hard to do that, which means trying to get more offers. The team is not going anywhere, and Pegula is pretty much going to get the team, the NFL is just trying to make sure it ends up at a price where they can claim a victory also at the end of the day
The Poojer Posted August 5, 2014 Posted August 5, 2014 Thanks for this...i didn't realize the deadline was a soft one, that make me feel a bit better Or perhaps its ongoing because it was always going to continue. First round of bidding is preliminary. Now all bidders will receive financial info from the Bills. They will have an opportunity to perform their due diligence and amend their offers accordingly. Pegula could have bid $10 billion but the process would have continued. http://espn.go.com/n...g-buffalo-bills or http://www.democrata...dders/13309941/
jahbonas Posted August 5, 2014 Posted August 5, 2014 Are you kidding. The money Ralph already made in yearly profits would take care of his great grandchildren. When you reach the 1.3 billion Pegula offered, that's an amount of money which would take care of your children's children children children and well beyond. To attempt to squeeze yet even more , an extra 100 million or more, without any preference to WNY owner, is just pure greed. But typical of the worst owner in NFL history, beloved by many saps in WNY just because he kept the team here. Forget the terrible win/loss record, forget being so cheap so as to lose number one draft picks to the CFL and USFL; Ralph's a hero to many here because he "sacrificed" by keeping the team here, making the taxpayers pay for his stadium, and making well in excess of 1 billion dollars for his sacrifice. Yes, what a hero. And a huge middle finger to all of WNY by putting in place a process that gives zero preference to a WNY based owner, all for the sake of making YET more money. Amen !!!
bisonbrigade Posted August 5, 2014 Posted August 5, 2014 Bon Jovi would have 30% stake in the team to submit a new bid and out bid everyone else. I don't think he has that much in his wallet. He would also have enough assurances that he won't move to Toronto.
jahbonas Posted August 5, 2014 Posted August 5, 2014 Does anyone have ANY tangible evidence /source that the trust is going to take anything other than the highest bid?
Kirby Jackson Posted August 6, 2014 Posted August 6, 2014 Does anyone have ANY tangible evidence /source that the trust is going to take anything other than the highest bid? That is correct. They are not obligated to take the highest bid and they are only taking bids committed to WNY.
Augie Posted August 6, 2014 Posted August 6, 2014 I love the Bills, and have for decades. Many decades. The quality of the team comes and goes, but the fans are always the constant. I love Bills fans! Having said that, I wonder sometimes. The analogy others have thrown out is fitting. It doesn't matter how inexpensive your speculative purchase of a beach house in Mailibu was decades ago, if you're selling it today you want to get what it's worth. That comes about by testing the market. For someone to say "hey, that's plenty" because they think they have a real interest in the team is just silly and simplistic. I hope they have enough sense to do better with their own financial planning.
jahbonas Posted August 6, 2014 Posted August 6, 2014 That is correct. They are not obligated to take the highest bid and they are only taking bids committed to WNY. I know you state this - and we would all love this to be true. But is this based on anything other than a hope? This also contrasts to the trust dancing with a JBJ bid backed by Toronto interests - many fans would not trust such a group to keep the team here yet the trust continues to dance with them.... why? Define 'committed' - is the trust looking for enough of a 'promise/commitment' that gives them enough cover to walk away with a highest bid from a bidder who may be able to break away down the road? National NFL writer Sal Paliantonio seemed to indicate its going highest bid I love the Bills, and have for decades. Many decades. The quality of the team comes and goes, but the fans are always the constant. I love Bills fans! Having said that, I wonder sometimes. The analogy others have thrown out is fitting. It doesn't matter how inexpensive your speculative purchase of a beach house in Mailibu was decades ago, if you're selling it today you want to get what it's worth. That comes about by testing the market. For someone to say "hey, that's plenty" because they think they have a real interest in the team is just silly and simplistic. I hope they have enough sense to do better with their own financial planning. Whats really pretty silly is you possibly comparing to a person wanting to maximize profits by a person alive selling a beach house to the directives given by a man who has passed away for a billion asset that was largely funded by the monies of this community
Kirby Jackson Posted August 6, 2014 Posted August 6, 2014 I know you state this - and we would all love this to be true. But is this based on anything other than a hope? This also contrasts to the trust dancing with a JBJ bid backed by Toronto interests - many fans would not trust such a group to keep the team here yet the trust continues to dance with them.... why? Define 'committed' - is the trust looking for enough of a 'promise/commitment' that gives them enough cover to walk away with a highest bid from a bidder who may be able to break away down the road? National NFL writer Sal Paliantonio seemed to indicate its going highest bidder. Take it as you will, but everything that I have said to date on this topic has proven to be true.
Heitz Posted August 6, 2014 Posted August 6, 2014 I know you state this - and we would all love this to be true. But is this based on anything other than a hope? Go read the 55 page thread on the same subject and you'll find KJ's background... Now, does anyone know if the bidder also has to bid on the Sabres because they're in the same town? Or something.
jahbonas Posted August 6, 2014 Posted August 6, 2014 Take it as you will, but everything that I have said to date on this topic has proven to be true. Kirby thats just not true. IF as you state the trust must take a bid by someone who commits to buffalo - why would they dance with jbj & toronto? Tells us this Kirby - do you believe JBJ and his Toronto buddies would keep the team in Buffalo? It must mean the degree of 'committment' demanded by the trust is not a very high thresshold - they asked JBJ and group to up bid and promise even more to keep the team here - write another letter and we can take your high bid?? Go read the 55 page thread on the same subject and you'll find KJ's background... Now, does anyone know if the bidder also has to bid on the Sabres because they're in the same town? Or something. Apparently Kirby thinks/believe JBJ and Toronto would keep the team in Buffalo. What else would explain the request to resubmit a bid?
Kirby Jackson Posted August 6, 2014 Posted August 6, 2014 Kirby thats just not true. IF as you state the trust must take a bid by someone who commits to buffalo - why would they dance with jbj & toronto? Tells us this Kirby - do you believe JBJ and his Toronto buddies would keep the team in Buffalo? It must mean the degree of 'committment' demanded by the trust is not a very high thresshold - they asked JBJ and group to up bid and promise even more to keep the team here - write another letter and we can take your high bid?? Apparently Kirby thinks/believe JBJ and Toronto would keep the team in Buffalo. What else would explain the request to resubmit a bid? To drive up the price!! They were going to have to commit to WNY if they were going to win. Hence, JBJ's lame attempts.
jahbonas Posted August 6, 2014 Posted August 6, 2014 To drive up the price!! They were going to have to commit to WNY if they were going to win. Hence, JBJ's lame attempts. Define commit.....what would suffice as a commitment to this trust?
Augie Posted August 6, 2014 Posted August 6, 2014 Whats really pretty silly is you possibly comparing to a person wanting to maximize profits by a person alive selling a beach house to the directives given by a man who has passed away for a billion asset that was largely funded by the monies of this community Here's what you're missing, the asset was NOT funded by the community. The right to keep the asset in town was funded by the community. The lease and improvements made to the stadium are all components of the agreement to keep them in town. They do NOT include any ownership rights. Don't be confused by that. And it makes zero difference whether they are alive or dead. The owner goes from a person to a trust. They don't lose any ownership rights to US because Ralph passed away.
jahbonas Posted August 6, 2014 Posted August 6, 2014 Here's what you're missing, the asset was NOT funded by the community. The right to keep the asset in town was funded by the community. The lease and improvements made to the stadium are all components of the agreement to keep them in town. They do NOT include any ownership rights. Don't be confused by that. Oh ok - I see now clearly thank you thank you - so dumb of me to ever thing this community contributed to his wealth...
Mr. WEO Posted August 6, 2014 Posted August 6, 2014 To drive up the price!! They were going to have to commit to WNY if they were going to win. Hence, JBJ's lame attempts. As likely the only viable bidder at this point, why wouldn't Pegula drop his bid?
Augie Posted August 6, 2014 Posted August 6, 2014 (edited) The number of zeroes don't matter, despite what many would like. The zeroes do not transfer to you. Oh ok - I see now clearly thank you thank you - so dumb of me to ever thing this community contributed to his wealth... Of course the community contributed to his wealth. If Wegman's or Duffs were to sell, you don't get a discount. That's the way the world works. At least the Bills didn't follow the Braves. I am thankful to have them in town and hope they stay for a fair market value sale price. Edited August 6, 2014 by Augie
jahbonas Posted August 6, 2014 Posted August 6, 2014 Excuse me for totally not trusting the intent of a man who did the following: 1- 1976 allows all pro ahmad rashad to walk and play for Vikes over 15k 2- 1979 allows #1 pick overall to walk to Canada over money - outbid by a CFL team 3- 1983 allows USFL to outbid and take Jim Kelly from us 4- 1984 allows USFL to take away 4 time probowl rb joe cribbs *** Surprise surprise we see our team go 2-14 in back to back seasons 1984 & 1985 - gee what could cause that? I would have thought any of these would never happen at the time - especially in pre-salary cap era, but they all did over someone wanting to stuff more money in his pocket. Now we are supposed to blindly trust he is selling to anything other than a highest bid.
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