TheZone78 Posted August 4, 2014 Posted August 4, 2014 Is it a check or is it cash? Would somebody get their story straight? The inference here is that Trump is not financing anything according to Michaels. I think he's more serious than people realize assuming the owners approve him.
A Dog Named Kelso Posted August 4, 2014 Posted August 4, 2014 Yes, it was. Seems to suggest that he may be more serious than he has let on about buying the Bills. I also am confused about why the Morgan Stanley is continuing to solicit more bidders. Does the Trust not want Pegula or is it merely an effort to increase the amount of the bids? Could be opening a can of worms if the latter. Or maybe they were hoping for x amount of bids to come in and then narrow it down to 3 and move those forward. The fact that only 3 came back with one of them a group thought to move the team out of town they really only had two. Only having two may be throwing off their initial plans. Its very possible they want to avoid the looking like they are favoring any local candidate. If that is the case getting at least one more bid would go a long way in that endeavor. While the JBJ group has certainly messed up their bid they (and maybe some NFL owners) could come back and say this thing was rigged and that is why you would want to show it wasn't.
YoloinOhio Posted August 4, 2014 Posted August 4, 2014 @JoeBuscaglia: A steel horse, he rides. MT @ByTimGraham HoF prez Baker advises folks not to take Bon Jovi's business acumen lightly http://t.co/BYb2K9l23n
boyst Posted August 4, 2014 Posted August 4, 2014 @JoeBuscaglia: A steel horse, he rides. MT @ByTimGraham HoF prez Baker advises folks not to take Bon Jovi's business acumen lightly http://t.co/BYb2K9l23n because a guy who runs the NFLHOF needs to know how to run a business when the business itself runs the business?
Reed83HOF Posted August 4, 2014 Posted August 4, 2014 Really get the feeling that the NFL is really pushing this guy
A Dog Named Kelso Posted August 4, 2014 Posted August 4, 2014 @JoeBuscaglia: A steel horse, he rides. MT @ByTimGraham HoF prez Baker advises folks not to take Bon Jovi's business acumen lightly http://t.co/BYb2K9l23n I really do not get it. If JBJ wants to fix this issue and help Toronto get knowledge so they might work through an expansion application in the future(Let's make the assumption that is the plan[true or not]). Then the JBJ group really only needs one from the Toronto delegation and he should drop the other and add either one local billionaire or (several lower rich individuals like Miami has). It seems so simple to fix this for JBJ and he really doesn't seem to get it, how can he be such a great business mind and not?
purple haze Posted August 4, 2014 Posted August 4, 2014 (edited) From John Kryk: Glum Toronto group privately rating chances as 'slim' it can match Pegula in #Bills bidding, source says: http://blogs.canoe.ca/krykslants/nfl/toronto-group-bidding-on-bills-rate-chances-as-slim-they-can-match-pegula-source-says/ … Edited August 4, 2014 by purple haze
Taro T Posted August 4, 2014 Posted August 4, 2014 fair enough, I was reacting to the term "miracle worker" which, I guess is the next step up from marketing genius, I guess next post will be for pope Francis to canonize the man -- As for the answer, I think the question was HOW has Brandon kept team in buffalo? I don't think PTR answered that, since it's clear to me that none of bidders are bidding because Brandon improved (inflated) profits because team has no debt on their books (which isn't a long term sustainable situation) and they have under spent the cap. Certainly Pegula is bidding and is more interested in the team, the city of buffalo and winning than he is at making a profit, so again, I don't see what Brandon himself has done specifically to keep the team in Buffalo ? Pegula just cleared ~$1.3B on his recent land sale (beyond selling his company a few years back for several $B). Why does the team need to take on debt if his bid wins?
kasper13 Posted August 4, 2014 Posted August 4, 2014 Maybe Bon Jovi can bring an Arena League team back to Buffalo. He had the business acumen for that apparently. Buffalo Bon Jovis vs the LA Kiss. That will draw a few hundred fans. Unless someone just gives him half a billion dollars in the next few weeks (which probably still won't be enough), it looks like the Toronto group is all but finished. Oh and someone tell Trump that his billion dollar bid was half a billion short. He's mad they didn't just give him the team. Ha.
dbringer Posted August 4, 2014 Posted August 4, 2014 Pegula just cleared ~$1.3B on his recent land sale (beyond selling his company a few years back for several $B). Why does the team need to take on debt if his bid wins? If your debt costs, say, 7% but you can earn more than 7% by investing it, then I can make a case for financing. Back to the game. Thad looks bad.
GA BILLS FAN Posted August 4, 2014 Posted August 4, 2014 Pegula just cleared ~$1.3B on his recent land sale (beyond selling his company a few years back for several $B). Why does the team need to take on debt if his bid wins? stadium
Taro T Posted August 4, 2014 Posted August 4, 2014 stadium 1st, he's sitting on about $2B in cash above the last deal. Plus he could turn additional land holdings for cash if he needs / wants. 2nd, if the new stadium costs $1B, how much of that will NYS taxpayers like me end up ponying up? Now, how much debt does TP have to take on to have a new team & a new stadium?
Beerball Posted August 4, 2014 Posted August 4, 2014 I think he can own both but he would have to bring on a minority owner into one or both. Not if the sale is consummated in an even month during an odd year.
Taro T Posted August 4, 2014 Posted August 4, 2014 If your debt costs, say, 7% but you can earn more than 7% by investing it, then I can make a case for financing. Back to the game. Thad looks bad. A case can be made to finance, but it isn't necessary. The poster I replied to said that staying debt free was "unsustainable." Taking on debt because it makes financial sense (& we don't know it does, though it might) does not make debt free "unsustainable."
A Dog Named Kelso Posted August 4, 2014 Posted August 4, 2014 Not if the sale is consummated in an even month during an odd year. Luckily this is an even year ... hopefully the rules allow for the purchase regardless of the month.
TheFunPolice Posted August 4, 2014 Posted August 4, 2014 (edited) I think the reason Russ Brandon isn't part of the trust is simple: the trust is comprised of family and Mr. Wilson's long-time business and legal advisers. Russ is a valued employee of the Buffalo Bills. Therein lies the difference, and that is why Littman was never going anywhere under Mr. Wilson's ownership. There is always going to be a divide between guys at the level of Mr. Wilson's power and wealth and the people who work for them. It's just a fact of life. Doesn't mean they don't trust, value, respect, even love those guys. But an NFL owner is in a whole different world from anyone else associated with the team (as we're seeing with this sale process). Some might think I underestimate Brandon's value. I don't. I have tremendous respect for him and the job he has done, and I hope he remains in a senior leadership role. But his days of being the face of the team and casting the Buffalo Bills vote at owners meetings are coming to an end. Russ is a man of integrity, class, and character, and he'll be around under new ownership. But he won't be playing owner anymore. Edited August 4, 2014 by TheFunPolice
DJasper Probincrux III Posted August 4, 2014 Posted August 4, 2014 I'm wondering if JBJ doesn't get desperate at this point, kicks the Canadians to the curb, and calls up TG to be his Sugar Daddy. I don't know that TG would go for that and risk his own image locally.
TheFunPolice Posted August 4, 2014 Posted August 4, 2014 I'm wondering if JBJ doesn't get desperate at this point, kicks the Canadians to the curb, and calls up TG to be his Sugar Daddy. I don't know that TG would go for that and risk his own image locally. Mr. Golisano keeps a very tight hold on his affairs. IF he buys the team he will have a very big role and plenty to say. The idea of him essentially putting up $500-700 million so that Bon Jovi can play NFL owner is inconceivable.
Kelly the Dog Posted August 4, 2014 Posted August 4, 2014 I'm wondering if JBJ doesn't get desperate at this point, kicks the Canadians to the curb, and calls up TG to be his Sugar Daddy. I don't know that TG would go for that and risk his own image locally. That's not really the point. The only way Bon Jovi wants to do this is to be the controlling owner, and be the face of the franchise and attend all the owners meetings and vote on league rules, etc. There is no way that Golisano would pay a billion dollars and then not be the controlling owner. Why would he do that? He wouldn't be turned down by the NFL if he won the bid. He has no real skeletons. He doesn't need Bon Jovi.
Pondslider Posted August 4, 2014 Posted August 4, 2014 Equally puzzled about the trusts' actions; if Pegula's bid is indeed that much higher, they should accept his bid and take the money and run -- he would be terrific choice and as Kirby points out, "checks all the boxes". I can't imagine the trust would prefer Trump, and I don't get the interest in Golisano, since he's stated since day one that he is a safety net for BUFFALO and not overly interested. Lastly, we all know the issues with JBJ. Let's just get this thing done, so we can move on already. I have no idea, but I think It's possible they are accepting more bids just to make the process seem more legitimate. If the only real candidate going forward is Pegula it might make the whole thing look suspicious and put the trust into question. Adding at least one other bidder could make it more acceptable for Pegula to win. Or maybe they just want to drive the price up.
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