Cloverbank Posted August 22, 2014 Posted August 22, 2014 Excerpt from NBC sports article this morning: "Those numbers aren’t final, and the Forbes report suggested they’re so low that the league might want to scuttle the sale process and start over. But it does point to what has been reported previously, that Pegula was the front-runner to buy the team." The league can't do that, correct?
MarkAF43 Posted August 22, 2014 Posted August 22, 2014 Excerpt from NBC sports article this morning: "Those numbers aren’t final, and the Forbes report suggested they’re so low that the league might want to scuttle the sale process and start over. But it does point to what has been reported previously, that Pegula was the front-runner to buy the team." The league can't do that, correct? The league doesn't have a say in terms of scuttling the sale and starting over. it's in the hands of the trust and Morgan Stanley
LabattBlue Posted August 22, 2014 Posted August 22, 2014 I'm curious about Golisano. If his role in buying the Sabres was just to stabilize the franchise and then sell to an owner committed to keeping the team in Buffalo, then why would he be bidding on the Bills, if he knows Pegula is in the picture? This is assuming Golisano's interest in the Bills is the same as it was with the Sabres(stabilize and eventually sell to an owner committed to keeping the team, when said owner steps forward).
thebandit27 Posted August 22, 2014 Posted August 22, 2014 I'm curious about Golisano. If his role in buying the Sabres was just to stabilize the franchise and then sell to an owner committed to keeping the team in Buffalo, then why would he be bidding on the Bills, if he knows Pegula is in the picture? This is assuming Golisano's interest in the Bills is the same as it was with the Sabres(stabilize and eventually sell to an owner committed to keeping the team, when said owner steps forward). I'm speculating here, but my feeling is that Golisano never viewed the Sabres as a money-making opportunity. The NFL, on the other hand, is reliably profitable. It may also be, as I've seen mentioned on here, that Golisano simply wants "credit" for being in the game and thus ensuring that the team stays here.
FLFan Posted August 22, 2014 Posted August 22, 2014 The league doesn't have a say in terms of scuttling the sale and starting over. it's in the hands of the trust and Morgan Stanley If the owners do not approve the selected candidate, yes, they can scuttle the process. I think this scenarios is highly unlikely.
GA BILLS FAN Posted August 22, 2014 Posted August 22, 2014 I've also heard that Golisano is much more of a football fan than he ever was a hockey fan. Having said that, I also know he will not overpay for the team and get in any type of bidding war. His upper limit is lower than Pegs upper limit, whether either of those limits get tested by the trust remains to be seen. In other words, is it possible for the trust to accept a $950M bid from TG without going to TP and asking him to beat it ? That is the ONLY situation where TG would beat out TP for the team that I can see.
thebandit27 Posted August 22, 2014 Posted August 22, 2014 If the owners do not approve the selected candidate, yes, they can scuttle the process. I think this scenarios is highly unlikely. The only way the owners wouldn't approve any of these guys would be based on financial issues, so you're right, it's remarkably unlikely. I'd put the odds of that happening at 1,000,000 to 1. I've also heard that Golisano is much more of a football fan than he ever was a hockey fan. Having said that, I also know he will not overpay for the team and get in any type of bidding war. His upper limit is lower than Pegs upper limit, whether either of those limits get tested by the trust remains to be seen. In other words, is it possible for the trust to accept a $950M bid from TG without going to TP and asking him to beat it ? That is the ONLY situation where TG would beat out TP for the team that I can see. Sure, that's possible. Is it likely to happen? Not from what I understand. I have no reason to suspect that anything has changed in the last 2 months; El Pegual is in the driver's seat until he decides otherwise.
JohnC Posted August 22, 2014 Posted August 22, 2014 (edited) I'm speculating here, but my feeling is that Golisano never viewed the Sabres as a money-making opportunity. The NFL, on the other hand, is reliably profitable. It may also be, as I've seen mentioned on here, that Golisano simply wants "credit" for being in the game and thus ensuring that the team stays here. There is no doubt that Golisano was mostly interested in saving the franchise and keeping it in Buffalo. But he also is an astute businessman. He bought the team in a bankruptcy sale for a good price. He then stabilized the finances and established a financial discipline in the hockey business that didn't exist with the former owner who was comingling the team's finances with his own. The end result is that after stabilizing the franchise he sold the team for a very good profit. More power to him. When he sold the team he made a condition of a future sale by the new owner that the team had to remain in Buffalo. Pegula was more than willing to accept that term. Whoever buys the Bills will be making a profit. Without considering the Bills venture Pegula is heavily investing in the community because he sees that it is a good investment for him. That is terrific position for the community and him and his wife. Note: When Golisano bought the team from a bankruptcy sale he was not obligated to pay a certain category of vendors. He did so because it was the right thing to do. I salute him for that. Edited August 22, 2014 by JohnC
May Day 10 Posted August 22, 2014 Posted August 22, 2014 also remember the NHL was headed directly into the storm of the century with the labor war. Very uncertain future when Golisano bought them. Bettman/Daly won the lockout, it cost a season, but that made it possible for the Sabres to compete and be at or near break even.
JohnC Posted August 22, 2014 Posted August 22, 2014 also remember the NHL was headed directly into the storm of the century with the labor war. Very uncertain future when Golisano bought them. Bettman/Daly won the lockout, it cost a season, but that made it possible for the Sabres to compete and be at or near break even. Golisano calculated that the owners were determined to change the economic structure and ownership/player balance. Bettman in his solicitation of Golisano assured him that there was going to be a new labor/management balance and a more rational business model from an ownership perspective. I don't think TG would have invested in a franchise where the economic structure would make it impossible for this particular market to have a chance to succeed or at the minimum survive. Really smart business people such as TG separate themselves from the rest of the pack by envisioning where the market is going to be rather than where the market is currently at. He certainly did so in this case.
SRQ_BillsFan Posted August 22, 2014 Posted August 22, 2014 (edited) Obviously Galisano wants the Bills to remain in Buffalo. Maybe he is just hanging around to ensure that happens. TPegs is the front runner and while it would be a shock it is possible he could let someone outbid him. Even though that is not expected. It's possible that Galisano expects to let TPegs take it, but is informed enough to not allow a bidder that would move the team thus allowing him to step in at that point if needed. Then again perhaps he is a big enough fan that he expects to outbid everyone. Hard to say because he has been very quite about his intentions and joining the party late seems a bit odd if he intended to outbid everyone. Edited August 22, 2014 by SRQ_BillsFan
May Day 10 Posted August 22, 2014 Posted August 22, 2014 Also, it is at least worth mentioning the political angle.
The Dean Posted August 22, 2014 Posted August 22, 2014 Could be Golisano is in this, just in case it's going to be sold at a below market (or below expected) price. Perhaps he got interested to make sure The Trust had two "local" offers (in other words, not the JBJ group or Trump) to choose from. Or perhaps he is doing The Trust a favor and making sure the team isn't sold at a bargain basement price (after all, he waited until the other non-binding bids were in before submitting). Then again, he could just have changed his mind and decided he really does want to own the Bills. It's all speculation at this point. Also, it is at least worth mentioning the political angle. With Golisano that's always a possibility.
PromoTheRobot Posted August 22, 2014 Posted August 22, 2014 If the Bills sell for under $1B then a new owner could flip them for a tidy profit in a few years if they sell without the relocation clause. That is my concern with everyone but TPegs.
The Dean Posted August 22, 2014 Posted August 22, 2014 If the Bills sell for under $1B then a new owner could flip them for a tidy profit in a few years if they sell without the relocation clause. That is my concern with everyone but TPegs. One would hope The Trust is guarding against that possibility.
PromoTheRobot Posted August 22, 2014 Posted August 22, 2014 One would hope The Trust is guarding against that possibility. Not sure what they can do after the sale, other than sell to Pegula.
The Dean Posted August 22, 2014 Posted August 22, 2014 Not sure what they can do after the sale, other than sell to Pegula. If they can ensure the team isn't being sold to someone who will move the team after the lease, why can't they employ the same strategy to the sale of the team?
plenzmd1 Posted August 22, 2014 Posted August 22, 2014 If the Bills sell for under $1B then a new owner could flip them for a tidy profit in a few years if they sell without the relocation clause. That is my concern with everyone but TPegs. PTR, i dont think the price will affect that possibility if sold to anyone other than TPEGS and Golisano. I fear Trump as much as the Toronto group for this very reason. But lets say the food dude won at $1.3B, and in 6 years someone offers him $2.5 B to move to LA...i don't think the higher price prevents that business decision from being made.
GA BILLS FAN Posted August 22, 2014 Posted August 22, 2014 PTR, i dont think the price will affect that possibility if sold to anyone other than TPEGS and Golisano. I fear Trump as much as the Toronto group for this very reason. But lets say the food dude won at $1.3B, and in 6 years someone offers him $2.5 B to move to LA...i don't think the higher price prevents that business decision from being made. Food dude ? I've thought about the concept of new owner "flipping" team earlier in the process, I do think it's a legitimate concern w/r/t to Trump but not with TG or TP. I am also surprised the initial bids reported by Forbes are so low. I thought any of the serious players would be at the stated valuation, especially since they are non-binding. It also goes to show you how unreliable the reporting has been with this process, the Pegs bid now ranges from $890M to $1.3B.
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