Kelly the Dog Posted August 7, 2014 Posted August 7, 2014 There always should have been more than three serious bidders, and the three number should have been the surprise, not the eight. Also, note the wording of Tim's tweet: "Up to eight." Leaks happen for a variety of reasons, and they are how us starving for information souls get that very information. It's somewhat comical that we have so many posters jumping on people breaking NDA agreements but that is how we get a lot if not most all of the information we want so bad. This is still Pegula's to lose. The Trust, as Kirby has repeatedly said, will have the same stringent rules about keeping the team in Buffalo and assuring them this is the case as they have been doing with Toronto. My slant on this is still that Morgan Stanley, the Trust, and the NFL all want to drive the price up, and there is nothing wrong with them doing that. They likely convinced the other lurkers like the Kelly/Gundlach duo, Golisano, and a couple others that they have not decided on Terry Pegula at all, that the reports of his bid are not accurate, and that this is very much an open process and winnable game. I would be very, very surprised if Pegula is not named the new owner in a few weeks.
Big Turk Posted August 7, 2014 Posted August 7, 2014 (edited) This is right from the article While the existence of unnamed potential buyers will make Bills fans nervous because those buyers could be based in cities like Los Angeles, the rejection of Bon Jovi’s initial bid based in part of the lack of sufficient assurances that the team won’t move should be interpreted as very good news for folks who want the team to stay put in Buffalo. 8 groups to sit down with the Bills in round 2 to see all the Bills books. Can not be good. I rather have 3 buyers in round 2 then 8 buyers. How did this change so quickly over night It's irrelevant, they are trying to help the NFL ensure they set a new record sales price by drumming up interest. At the end of the day Pegula will be the one standing. This is all a dog and pony show at this point. Like in a fixed fight, they gotta keep up the appearences that its on the up and up, but by the lack of initial bids its obvious those other potential bidders knew better than to waste their time. Specifically, the Bills trust and Morgan Stanley are trying to convince these other bidders otherwise and to put a bid in...you know its kinda like the desperate dude who continues to ask a girl out til they finally give in just so they can have them stop bothering her. They are gonna listen, but how many of those other 5 will submit a bid? Edited August 7, 2014 by matter2003
TheZone78 Posted August 7, 2014 Posted August 7, 2014 Somewhere in these 66 pages we need somebody to post a private jet link for Detroit. Then this thread would be complete.
Rubes Posted August 7, 2014 Posted August 7, 2014 8 groups to sit down with the Bills in round 2 to see all the Bills books. Can not be good. I rather have 3 buyers in round 2 then 8 buyers. How did this change so quickly over night I know, I mean by round 3 we might have 15 bidders!
K D Posted August 7, 2014 Posted August 7, 2014 Nothing says they are on the only 2 in the group so who can say what they can or cannot bid. I would not expect the trustees to pass up hundreds of millions of dollars. But all other things being equal, do you think they pick a team with Kelly, or without? Certainly all things equal but I think Pegula can vastly outbid anything Gundlach could offer. He just doesn't have that kind of cash and by taking on tons of investors it is not a model that the NFL follows. The NFL likes 1 cash flush billionaire to own the team. Pegula is clearly the guy. If you told me a few weeks ago Jim Kelly would enter the race I would be excited. But I'm not today. This seemed like a done deal with Pegula. All this is doing is driving the price higher which is money that could have been re-invested in the community
Tyrod's Tailor Posted August 7, 2014 Posted August 7, 2014 Certainly all things equal but I think Pegula can vastly outbid anything Gundlach could offer. He just doesn't have that kind of cash and by taking on tons of investors it is not a model that the NFL follows. The NFL likes 1 cash flush billionaire to own the team. Pegula is clearly the guy. If you told me a few weeks ago Jim Kelly would enter the race I would be excited. But I'm not today. This seemed like a done deal with Pegula. All this is doing is driving the price higher which is money that could have been re-invested in the community The fact that he has all this extra cash doesn't mean Pegula is willing to pay above a certain price for the team. He certainly didn't get to this point in his life by overbidding for assets he wanted. And really, Terry's money is ours now?
Kelly the Dog Posted August 7, 2014 Posted August 7, 2014 (edited) If you told me a few weeks ago Jim Kelly would enter the race I would be excited. But I'm not today. This seemed like a done deal with Pegula. All this is doing is driving the price higher which is money that could have been re-invested in the community If you believe the reports that Pegula bid about 1.3 billion this new information is still IMO not going to make the ultimate sale price much if any more than that. Put it this way: it now appears that the Toronto bid is less than a billion. The Donald's bid was at most a billion and maybe less. Even if Pegula bid 1.3 his next binding bid could be 1b and he would win it going away. So the Trust and Morgan Stanley and the NFL need as many bidders in there as they can if only to get the price close to what Pegula already offered. Edited August 7, 2014 by Kelly the Dog
Ronin Posted August 7, 2014 Posted August 7, 2014 This is not good news. Why do I get the feeling We're going to end up getting screwed In the end http://profootballta...-eight-suitors/ Don't we always. Let's let the process play out prior to speculating. I was hot when reading this. Almost everything we've heard though has been pure speculation and false in hindsight, so why give this crap the time of day until actual facts get out. Pegula basically talking trash towards other prospective buyers telling them there is a whole lot more where that $1.75 billion came from, that he isn't going anywhere, and to bring it. Love it. I wouldn't love this. Pegula has been very decent in this process and appears to have altruistic motives for buying the team. Right now he's being treated like a sucker by fans anyway, who knows how the trust is treating him. He's wealthy, he's not a fool. I cannot imagine that if he feels that he's simply being run up by the trust that at some point he may tell the trust to go screw itself. No matter what we think here, the economics of the region and the fact that it's the smallest TV market in the league don't bode well. We should be on our knees that a guy like Pegula is willing to bid $1B for the team much less more. These assumptions that he'll empty his porfolio just to buy this team at prices and costs of building a new stadium that would make it being a sound business investment iimpossible in his lifetime are not necessarily true and just rumors right now. This trust is being overseen the same way that they have run the team. So we now have more chances to lose are Bills Exactly. And why doesn't this raise questions as to what the trust's goals really are? Because if the trust was interested in a fair price for the team with a serious commitment to keeping the team here, they just had it. Now they're complicating matters and not being happy with that. I've never been sold that the trust's first loyalties are to us as fans. I guess we won't find out until we find out. How did this change so quickly over night Uhhh, because people react to assumptions and rumors.
thebandit27 Posted August 7, 2014 Posted August 7, 2014 It bears repeating for an umpteenth time: We stand zero chance, no chance, nil chance, negative chance of losing the Bills. None. Whatsoever. At all.
17 Josh Allen Posted August 7, 2014 Posted August 7, 2014 We are giving it the time of day because PFT is a national media outlet And they are reporting this. So let me get this straight. For the last week everyone has reported 2 to 3 bidders will move on to Round 2. This gives them the right to see all the Bills financials And meet fave to face with Russ Brandon technically the owner Of the Bills right now. Then we wake up this morning and the total is now 8 groups Will now see all the books and get to move forward How come the first 3 groups got vetted and one of the groups was told There bid was too low and to resubmit So these guys play by the rules and do what there told. Now 5 others get to meet with the CEO of the Bills. Is one of those guys a google 20 Billionaire Can he pay 3 Billion for the team and pay The 600 million to break the lease As his new toy This just sucks. And frankly not right
Mr. WEO Posted August 7, 2014 Posted August 7, 2014 Obviously this means the Bills are moving to LA....and Toronto.
Captain Caveman Posted August 7, 2014 Posted August 7, 2014 This is right from the article While the existence of unnamed potential buyers will make Bills fans nervous because those buyers could be based in cities like Los Angeles, the rejection of Bon Jovi's initial bid based in part of the lack of sufficient assurances that the team won't move should be interpreted as very good news for folks who want the team to stay put in Buffalo. 8 groups to sit down with the Bills in round 2 to see all the Bills books. Can not be good. I rather have 3 buyers in round 2 then 8 buyers. How did this change so quickly over night Because whoever reported 3 was wrong. Take everything you read with a grain of salt. And stop opening new threads, please, there is one thread for the Bills sale.
jimmy10 Posted August 7, 2014 Posted August 7, 2014 Thank God someone started a thread about the imminent sale of the Buffalo Bills. The Bills are for sale??? When did this happen??!
Ronin Posted August 7, 2014 Posted August 7, 2014 It's irrelevant, they are trying to help the NFL ensure they set a new record sales price by drumming up interest. At the end of the day Pegula will be the one standing. So the assumption here is that Pegula's being played. Is that a wise assumption? Pegula will automatically top whatever bids come in, so let's get as many bidders as possible to get him to raise his very reasonable (rumored) offer, to something ludicrous. It won't be very funny if Pegula doesn't like being treated like some stooge or sucker that's on the other end of the line and unable to get off the hook. He may very well show the trust that that hook isn't quite as firmly embedded as some like to believe. Who are we to say what Pegula will or will not do or to insist that he'll mortgage his life to do us a favor when he may have little chance of even recouping his investment during his lifetime?
17 Josh Allen Posted August 7, 2014 Posted August 7, 2014 Not for breaking news there's not. And that thread is way too long More pages then the first thread about the sale. This is really important. 3 to 8 is a big deal and we've been told all week it's 2 or 3 moving forward How is it the first three groups get vetted and these are 5 don't. Unknown means we could lose the team
Ronin Posted August 7, 2014 Posted August 7, 2014 We are giving it the time of day because PFT is a national media outlet And they are reporting this. So far all we've gotten is rumors and they've been almost categorically wrong. Is this another rumor, or a factual tidbit? And some people say that this hasn't turned into a media circus. All that's missing is the VW bug with the 14 clowns in it.
K D Posted August 7, 2014 Posted August 7, 2014 The fact that he has all this extra cash doesn't mean Pegula is willing to pay above a certain price for the team. He certainly didn't get to this point in his life by overbidding for assets he wanted. And really, Terry's money is ours now? It is certainly money that COULD have been used towards a stadium. If he ends up bidding say $400 Million more than he was planning on getting the team for he might look at his balance sheet and decide it's not worth it to put any more money into the team at this time. At the end of the day it's still a business and you are right, he is not going to overpay and he is going to do what it takes to be profitable. Which could hurt us in the long run. If nobody else bid and he got the team for $1 BIL I'd be a lot more confident that he would have the extra cash on hand to build the stadium sooner rather than later. I'm sure he has earmarked a certain dollar amount already. It's like when you buy a car. If you are planning on paying $30k and you set aside that money but somehow you are able to talk them down to $28k, you are going to look at the situation as if you have $2k extra left to spend so you might get some new wheels, an extended warranty, new stereo, etc. That's how I look at it. He's already spent the money in his head. If he has to pay more then that's money that is coming out of the stadium fund If you believe the reports that Pegula bid about 1.3 billion this new information is still IMO not going to make the ultimate sale price much if any more than that. Put it this way: it now appears that the Toronto bid is less than a billion. The Donald's bid was at most a billion and maybe less. Even if Pegula bid 1.3 his next binding bid could be 1b and he would win it going away. So the Trust and Morgan Stanley and the NFL need as many bidders in there as they can if only to get the price close to what Pegula already offered. It would have made sense if by these other groups coming in they were able to dismiss the Toronto bid altogether, but that doesn't seem to be the case as they are meeting with them next week
GA BILLS FAN Posted August 7, 2014 Posted August 7, 2014 While this process is maddening, this is the most important thing in Bills history, probably since the inception of the team. I find it odd that stage 2 of the process was suppose to narrow the field to the top 2 or 3 bidders, seems the trust has decided instead to keep up to 8 bidders in this process. I can't imagine there are 8 serious bidders worth considering.
SRQ_BillsFan Posted August 7, 2014 Posted August 7, 2014 Who's to say there were only 3 groups to put in initial bids. Don't forget the NDA. It's more likely that number was wrong than up to 5 people bid after the initial date. Most likely the news reports have not been correct.
thebandit27 Posted August 7, 2014 Posted August 7, 2014 So the assumption here is that Pegula's being played. Is that a wise assumption? Pegula will automatically top whatever bids come in, so let's get as many bidders as possible to get him to raise his very reasonable (rumored) offer, to something ludicrous. It won't be very funny if Pegula doesn't like being treated like some stooge or sucker that's on the other end of the line and unable to get off the hook. He may very well show the trust that that hook isn't quite as firmly embedded as some like to believe. Who are we to say what Pegula will or will not do or to insist that he'll mortgage his life to do us a favor when he may have little chance of even recouping his investment during his lifetime? If this were the case, I'd agree. The reality of the situation is that El Pegual (and all prospective bidders, for that matter) knew the details of the process from the get-go. There was never a hard deadline, and they were always going to "shop" bids if they chose to do so...El Pegual understands business, and he's not going to get his feathers ruffled by a little competition. If he wants the team, then he'll get them. He's not being played, the rules haven't changed, and this most recent report isn't news to any of the folks on the inside. Remember that, as the details emerge, nothing in the process is changing; it's just that the public is finding out what the players in the game already knew. Not for breaking news there's not. And that thread is way too long More pages then the first thread about the sale. This is really important. 3 to 8 is a big deal and we've been told all week it's 2 or 3 moving forward How is it the first three groups get vetted and these are 5 don't. Unknown means we could lose the team No, we cannot. If we stood to lose the team, the JBJ group would never have been asked to submit a solid guarantee with their second bid offering. The team isn't leaving.
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