Mike in Horseheads Posted August 30, 2014 Posted August 30, 2014 Bon Jovi is out of group.... http://nypost.com/2014/08/29/bon-jovi-out-of-group-bidding-for-bills/
Kirby Jackson Posted August 30, 2014 Posted August 30, 2014 Bon Jovi is out of group.... http://nypost.com/2014/08/29/bon-jovi-out-of-group-bidding-for-bills/ I am not a fan of this.
thebandit27 Posted August 30, 2014 Posted August 30, 2014 Looks like a last-ditch effort by Morgan Stanley to keep the Toronto boogeyman around to drive up the price.
Kirby Jackson Posted August 30, 2014 Posted August 30, 2014 Looks like a last-ditch effort by Morgan Stanley to keep the Toronto boogeyman around to drive up the price. I do agree with this too. Just trying to drive the price up (but they will). JBJ couldn't do that.
Mike in Horseheads Posted August 30, 2014 Posted August 30, 2014 I do agree with this too. Just trying to drive the price up (but they will). JBJ couldn't do that. BJ is almost like a puppet diversion for the real goal now.
Peter Posted August 30, 2014 Posted August 30, 2014 I am not a fan of this. Me neither. JBJ capped them out. On the other hand, there is no pretense as to what these Toronto guys want to do. As bad as the Bills look, the only thing that matters to me right now is that the Pegulas (or someone like them) are the successful bidders. I am tired of having to worry about whether the Bills will stay in Buffalo.
Tyrod's Tailor Posted August 30, 2014 Posted August 30, 2014 I do agree with this too. Just trying to drive the price up (but they will). JBJ couldn't do that. so how worried should we be about this?
TheZone78 Posted August 30, 2014 Posted August 30, 2014 Thought it said Bon Jovi group out...on second read looks like the trust has their bidding war.
Kirby Jackson Posted August 30, 2014 Posted August 30, 2014 so how worried should we be about this? I wouldn't worry too much but it may stretch Pegula. It could impact the stadium some I would think.
jahnyc Posted August 30, 2014 Posted August 30, 2014 This is really bad news. I know that we have been receiving all kinds of assurances from other posters on the board, but the new Toronto group has substantial resources and are no longer constrained by the inclusion of JBJ.
Tyrod's Tailor Posted August 30, 2014 Posted August 30, 2014 I think it's pretty interesting this story was leaked to the NYC press and not Toronto's. This makes me think that Morgan Stanley is the source and not any specific ownership group. This would suggest a leak to drive up the price.
thewildrabbit Posted August 30, 2014 Posted August 30, 2014 (edited) So, the Toronto group wins the bid, and then sells JBJ a slice afterwards. If they do put forth the highest bid we can only hope the trust goes with either TP, TG. I know the NFL would rather see a single owner over a group. From that link , “Rogers is very serious” about buying the team, another source close to the process said. Edited August 30, 2014 by FeartheLosing
Kirby Jackson Posted August 30, 2014 Posted August 30, 2014 The problem with the Toronto group is that they are a Toronto group which will ultimately prevent them from owning the team. With that being said they were a Toronto group with a budget when they had JBJ. There was a ceiling in place because of his financial limitations. Now, they can drive the price up.
Big Blitz Posted August 30, 2014 Posted August 30, 2014 If he was detrimental to their bid why hook up with him in the first place? Not buying this at all. Their "restructuring" or whatever. The league or Morgan Stanley is trying to squeeze Pegula as we approach submission of final bids.
ICanSleepWhenI'mDead Posted August 30, 2014 Posted August 30, 2014 Wonder if the potential new "controlling owner" of the Toronto group will be Larry Tanenbaum or Ed Rogers? If Ed Rogers has the ability to put up whatever funds the Rogers Family Trust has available the group would have a higher potential max bid, but even if Tanenbaum becomes the lead guy the Toronto group could probably go higher than the Bon Jovi-led triad. Tanenbaum is likely to own put options that would allow him to sell his 25% stake in MLSE to the other two 37.5% owners if he wants. That's just a guess, but billionaires like control, so I would expect him to have negotiated such an "out" when Rogers Communications and Bell bought their combined 75% stake from the former majority owner of MLSE. I don't know if Tanenbaum would want to divest his interest in MLSE if required to make a bid that might allow him to become the controlling owner of the Bills, but my guess is that he has put options that would allow him to cash out his MLSE stake if he wants. Use that cash as 30% of the total bid and the Toronto duo could bid pretty high even with Tanenbaum as the lead dog. Just my 2 lira - - could be wrong.
The Dean Posted August 30, 2014 Posted August 30, 2014 The problem with the Toronto group is that they are a Toronto group which will ultimately prevent them from owning the team. With that being said they were a Toronto group with a budget when they had JBJ. There was a ceiling in place because of his financial limitations. Now, they can drive the price up. Agree 100%. JBJ was the cover and potential reason to believe this wasn't just an attempt to grab a team for Toronto. Ultimately, as we know, the cover was quickly blown off. Love that JBJ is no longer an issue, but it leaves the TO boys to up the ante. But now there is no more plausible deniability about the motives. In the end probably won't matter---except possibly in the price.
jimmy10 Posted August 30, 2014 Posted August 30, 2014 So, the Toronto group wins the bid, and then sells JBJ a slice afterwards. If they do put forth the highest bid we can only hope the trust goes with either TP, TG. I know the NFL would rather see a single owner over a group. From that link , “Rogers is very serious” about buying the team, another source close to the process said. Doesn't Rogers literally have to play "Mother May I?" with the family money though?
DC Tom Posted August 30, 2014 Posted August 30, 2014 Bon Jovi is out of group.... http://nypost.com/20...ding-for-bills/ With rival bidder Terry Pegula, a fracking billionaire, You're fracking right, he's a fracking billionaire. Fracking-A, Terry.
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