PromoTheRobot Posted July 30, 2014 Posted July 30, 2014 (edited) El Pegual needs no tiny people speaking from magic boxes to tout his majesty. Men tear their own heads off rather than face his wrath. Every baby born cries because they fear him instinctively. The lake freezes not from the winter chill but the iciness of his gaze. Edited July 31, 2014 by PromoTheRobot
The Wiz Posted July 30, 2014 Posted July 30, 2014 Way to keep the faith brother! I honestly don't think I've ever seen him post anything other than "stayin"
leh-nerd skin-erd Posted July 30, 2014 Posted July 30, 2014 El Pegual needs no tiny people speaking from magic boxes to tout his majesty. Every baby is born fearing the mere sound of his name. The lake freezes not from the winter chill but the power of his gaze. ominious. babies afraid, doesn't like dwafs/ves, global warming. i don't know about this, not at all.
RuntheDamnBall Posted July 30, 2014 Posted July 30, 2014 ominious. babies afraid, doesn't like dwafs/ves, global warming. i don't know about this, not at all. Does this mean Donahoe is coming back?
leh-nerd skin-erd Posted July 30, 2014 Posted July 30, 2014 Does this mean Donahoe is coming back? Donahoe is a dwarf?
SRQ_BillsFan Posted July 30, 2014 Posted July 30, 2014 Remember these are non binding bids, so it doesn't matter who's is highest.
The Wiz Posted July 30, 2014 Posted July 30, 2014 Remember these are non binding bids, so it doesn't matter who's is highest. You don't bid a price you can't afford. This isn't bidding on a house that you might be able to figure out the finances and make due if you win the bid. Pegula slapped his sack on the table and told everyone else to "come at me brah!"
inkman Posted July 30, 2014 Posted July 30, 2014 Agree, makes everybody happy. Isn't $1.3B getting a little rich for JBJ as majority owner? Do we know for certain that he is the majority owner of that group?
Kirby Jackson Posted July 30, 2014 Posted July 30, 2014 Do we know for certain that he is the majority owner of that group? Controlling owner and majority are a little different. In order to be the controlling owner you need to own at least 30% as per league rules. JBJ is the controlling owner of his group.
Kelly the Dog Posted July 30, 2014 Posted July 30, 2014 Do we know for certain that he is the majority owner of that group? According to John Kryk of the Toronto Sun who has been as much on top of this as anyone, he is, yes. Common sense also says he is. He is not going to put in virtually 80-90% of his money just to be the background owner of the Buffalo Bills and not be the face of the franchise and attend the NFL meetings and get all the perks. Furthermore, if the Canadian guys did not need his entre into the NFL as the "controlling owner" they would try to hook up with a wealthier dude and not him.
cgang Posted July 30, 2014 Posted July 30, 2014 Kirby, thanks so much for everything. I hardly ever post, but I've learned a ton from you and others as I frantically keep hitting F5. Question for you or others... my understanding is that there will be a negotiation stage before the winning bidder is chosen. Other than price, can you think of any other factors that would be negotiated? It's not like buying a house where you have a list of things to fix up before the close, is there? I can think of a close where the trust puts money into an escrow to correct certain deficiencies maybe (back taxes, outstanding debts of the franchise, outstanding lawsuits maybe, etc.) discovered during the due diligence process, but I am trying to figure out what else there would be to negotiate. Thoughts anyone?
BUFFALOKIE Posted July 30, 2014 Posted July 30, 2014 I honestly don't think I've ever seen him post anything other than "stayin" Exactly! You don't bid a price you can't afford. This isn't bidding on a house that you might be able to figure out the finances and make due if you win the bid. Pegula slapped his sack on the table and told everyone else to "come at me brah!" Spit beer out my nose on that one!!! Lmao! Ground up and in the freezer muthaf♡(&ah!!!
The Wiz Posted July 30, 2014 Posted July 30, 2014 Controlling owner and majority are a little different. In order to be the controlling owner you need to own at least 30% as per league rules. JBJ is the controlling owner of his group. So the 30% can come from JBJ and the other 70% could come from one source and JBJ could still be the controlling owner?
Kelly the Dog Posted July 30, 2014 Posted July 30, 2014 So the 30% can come from JBJ and the other 70% could come from one source and JBJ could still be the controlling owner? The team's owners designate and "assign" a controlling owner to the league, he just has to be at least a 30% owner to be "the controlling owner." So, yes.
Jerry Jabber Posted July 30, 2014 Posted July 30, 2014 Pegula has done his due diligence on this, so I am very confident that he will stay one step ahead of the Toronto group in the bidding process.
Kirby Jackson Posted July 30, 2014 Posted July 30, 2014 Kirby, thanks so much for everything. I hardly ever post, but I've learned a ton from you and others as I frantically keep hitting F5. Question for you or others... my understanding is that there will be a negotiation stage before the winning bidder is chosen. Other than price, can you think of any other factors that would be negotiated? It's not like buying a house where you have a list of things to fix up before the close, is there? I can think of a close where the trust puts money into an escrow to correct certain deficiencies maybe (back taxes, outstanding debts of the franchise, outstanding lawsuits maybe, etc.) discovered during the due diligence process, but I am trying to figure out what else there would be to negotiate. Thoughts anyone? It could be anything. I sell small businesses for a living now and we see all kinds of stuff on transactions that may only be a couple hundred grand. I can't imagine what will come into play here. Most everything will be resolved in due diligence. They will cover any contracts, concession deals, receivables, payables, liabilities, etc... Any contingencies will come from things discovered there I would imagine. As an example the buyer may exclude certain assets from their bid to try to keep the cost down. We see this from time to time but I can't imagine that at this level there will be too much nickel and diming with other interested parties. Pretty much everything will be transferred which is why the process takes so long. The due diligence on a transaction of this magnitude is insane.
The Wiz Posted July 30, 2014 Posted July 30, 2014 The team's owners designate and "assign" a controlling owner to the league, he just has to be at least a 30% owner to be "the controlling owner." So, yes. Good to know actually. I was under the impression that they had to provide at least the majority of the financial backing to be the controlling owner. It keeps them in pay is Rogers gets the ok to spend more money but even at 1.5 jbj doesn't have enough to throw in 30%
machine gun kelly Posted July 30, 2014 Posted July 30, 2014 T Peg if granted ownership would come in as either the 4th or 5 the wealthiest owner in the league. The NFL owners like singular owners, not groups. The only owners with a greater net worth would be the Glazers (Bucs), Ross (Fins), Kronkie (Rams), and Allen (Hawks) in that order to the top. If his bid is solid, everything points to his ownership. He also has a significant investment in upstate NY overall so the state should be willing to pony up more dollars for a EW stadium. I'm going to remain delusional that he will get this bid and not get caught up in all of the scares of other bids.
Recommended Posts