New sale of team thread

[Tyrod's Tailor]

Here's what I found interesting about the NDA:

 

The agreement prevents possible buyers from sharing such confidential Bills information as financial statements, sales data, budgets and studies "with any other person, including other potential bidders and equity or debt financing sources ... regarding a possible transaction" with the Bills.

 

Really tilting the tables in favor of cash-heavy buyers, especially considering that stadium financing would be something that a prospective buyer would likely look into as part of their due diligence.

 

This.

[MarkAF43]

gotta be put here.

 

Stayin

[BuffaloATL]

I could read this thread all day long. I think I have, actually.

 

Stayin

 

:thumbsup: :thumbsup:

[DJasper Probincrux III]

So, if this goes down the way it's looking like it might that 10/12 game vs. NE is going to be a tough ticket. Who WOULDNT want to be there to salute Daddy Warbucks? I do.

[Peter]

Here's what I found interesting about the NDA:

 

The agreement prevents possible buyers from sharing such confidential Bills information as financial statements, sales data, budgets and studies "with any other person, including other potential bidders and equity or debt financing sources ... regarding a possible transaction" with the Bills.

 

Really tilting the tables in favor of cash-heavy buyers, especially considering that stadium financing would be something that a prospective buyer would likely look into as part of their due diligence.

That also would seem to prevent Tannenbaum and Rogers from going to their families and companies for additional money.

[Nanker]

Could be Ralphie Baby set the trust up with just exactly this in mind: Don't come sniffing around The Buffalo Bills, unless you've got the cash in hand to talk business. Money talks and bull **** walks. Keep walkin' JBJ.

[thebandit27]

That also would seem to prevent Tannenbaum and Rogers from going to their families and companies for additional money.

 

Wow...I didn't catch the word "equity" in there; good call.

 

I suppose the language can be interpreted a number of ways (probably), but if one is to read that to say "no sharing of confidential information with any equity sources" (which may be the actual operative phrasing), then you are correct.

 

It's also so darn interesting that Pegula doesn't need to do anything to get equity, as he just sells a plot of land he owns for a cool $1.75B, and as long as he says nothing about it, he violates nothing.

[KevinL]

Could this be why we haven't heard about JBJ group moving on with the bidding process?

Edited August 4, 2014 by KevinL

[Kirby Jackson]

 

 

Wow...I didn't catch the word "equity" in there; good call.

 

I suppose the language can be interpreted a number of ways (probably), but if one is to read that to say "no sharing of confidential information with any equity sources" (which may be the actual operative phrasing), then you are correct.

 

It's also so darn interesting that Pegula doesn't need to do anything to get equity, as he just sells a plot of land he owns for a cool $1.75B, and as long as he says nothing about it, he violates nothing.

I wouldn't read too deep into that. It's fairly common for an NDA. The one that we use has this in there and our deals are infinitely smaller than this. It is more about accountability. Those equity partners would need to sign an NDA as well. It is more so that they aren't sharing info with someone that has no "skin in the game" so to speak. It does make it a little more difficult on the buyers but it is designed to give the seller recourse if damage is done because of information that a buyer shared.

[thebandit27]

I wouldn't read too deep into that. It's fairly common for an NDA. The one that we use has this in there and our deals are infinitely smaller than this. It is more about accountability. Those equity partners would need to sign an NDA as well. It is more so that they aren't sharing info with someone that has no "skin in the game" so to speak. It does make it a little more difficult on the buyers but it is designed to give the seller recourse if damage is done because of information that a buyer shared.

 

Sure, makes sense. The finer points of the NDA are a bit sketchy to me.

[Kelly the Dog]

Sure, makes sense. The finer points of the NDA are a bit sketchy to me.

I've signed dozens of NDAs in my life. I lot of them basically say you cannot breathe oxygen while thinking about this deal.

[jimmy10]

So what's the net result of these potential NDA violations? Since the trust is running the show, will they decide whether to disqualify or let it slide?

 

It would be pretty sh*tty of them to require everyone to sign this "10 out of 10" restrictive NDA and then not hold anyone accountable when they start blabbing in the press with artfully crafted BS.

 

I know we've got some posters with GEDs in Law, would love to hear thoughts.

[Kirby Jackson]

So what's the net result of these potential NDA violations? Since the trust is running the show, will they decide whether to disqualify or let it slide?

 

It would be pretty sh*tty of them to require everyone to sign this "10 out of 10" restrictive NDA and then not hold anyone accountable when they start blabbing in the press with artfully crafted BS.

 

I know we've got some posters with GEDs in Law, would love to hear thoughts.

I would pretty much guarantee that nothing comes from it. They do not want to eliminate potential bidders. They are trying to maximize the sale price. It is pretty much a non-story. The real story is the desperation play that JBJ is employing at this point. His chances aren't good at all.

[thebandit27]

I've signed dozens of NDAs in my life. I lot of them basically say you cannot breathe oxygen while thinking about this deal.

 

Yeah, but what do you know?

 

Thanks for the context.

[Tyrod's Tailor]

I would pretty much guarantee that nothing comes from it. They do not want to eliminate potential bidders. They are trying to maximize the sale price. It is pretty much a non-story. The real story is the desperation play that JBJ is employing at this point. His chances aren't good at all.

 

He's going to fail to buy the team and has failed at preserving his dignity. Too bad!

[Lurker]

So what's the net result of these potential NDA violations? Since the trust is running the show, will they decide whether to disqualify or let it slide?

 

It would be pretty sh*tty of them to require everyone to sign this "10 out of 10" restrictive NDA and then not hold anyone accountable when they start blabbing in the press with artfully crafted BS.

 

I know we've got some posters with GEDs in Law, would love to hear thoughts.

The trust can do whatever they want...this is a private deal and they can choose what to enforce or to ignore.

 

That said, the more JBJ and Trump open their mouth, the clearer it becomes that Pegula is the leader at the clubhouse turn...

[Kelly the Dog]

So what's the net result of these potential NDA violations? Since the trust is running the show, will they decide whether to disqualify or let it slide?

 

It would be pretty sh*tty of them to require everyone to sign this "10 out of 10" restrictive NDA and then not hold anyone accountable when they start blabbing in the press with artfully crafted BS.

 

I know we've got some posters with GEDs in Law, would love to hear thoughts.

The real question is does it hurt the sale process or money or other bidders or the Trust or team or anything tangible. And the answer to that is probably no. They may say please don't do that. I highly doubt they are penalized for it in any meaningful way.

[CodeMonkey]

I've signed dozens of NDAs in my life. I lot of them basically say you cannot breathe oxygen while thinking about this deal.

Any NDA written like that is unenforceable and just as bad as not having one at all.

I work in R&D environments and as such come across them all the time. Most are well written and fairly boilerplate.

And I can't speak for the trust and these alleged leaks, but any company worth anything enforces them to the limit of the law if they need to as their livelihood can hang in the balance.

 

If these leaks are real, and are against the NDA, expect significant legal action. If there is none, it probably means that the alleged leaks are either not against the terms of the NDA, or are nothing but fiction.

[BuffaloATL]

So what's the net result of these potential NDA violations? Since the trust is running the show, will they decide whether to disqualify or let it slide?

 

It would be pretty sh*tty of them to require everyone to sign this "10 out of 10" restrictive NDA and then not hold anyone accountable when they start blabbing in the press with artfully crafted BS.

 

I know we've got some posters with GEDs in Law, would love to hear thoughts.

 

I sign these pretty often. It's really about protecting the financial asset you're reviewing and isn't really included as a 'gotcha!' sort of thing. My guess: nothing happens. It's still about maximizing the value for the trust. If the Bills were a public entity, then this stuff would matter. But bottom line... if one of these groups that have violated the NDA steps up with a huge offer of some kind, the NDA violations to date will not prevent the trust from selling to them. The losing bidder may sue, but that's not likely.

[BringBackFergy]

I would pretty much guarantee that nothing comes from it. They do not want to eliminate potential bidders. They are trying to maximize the sale price. It is pretty much a non-story. The real story is the desperation play that JBJ is employing at this point. His chances aren't good at all.

Others have said this before (I'm sure) but Jon Bon Blowme's attempt at acquiring the Bills now (and his little luncheon with Roger - notepad and pen in hand) may be his precursor to acquiring a team when the NFL expands. How in God's name this guy gets all the love from some NFL owner's and Roger is beyond me, but assuming he whiffs on the Bills purchase, he has the ear of the Commish and other owners that he wants a team. Honestly, he appears to be a spoiled brat that will cry and scream until he gets what he wants....I wish Mary Wilson would tell him to walk away and stop with the charade.