Jerry Jabber Posted September 8, 2014 Posted September 8, 2014 (edited) They should not even be considered since they really cannot be trusted to keep the team in Buffalo. I dont care what they may sign. What happens if JBJ offers 1.5 and Pegula offers 1.3? JBJ does not have the money to bid $1.5B. In order to be controlling owner of the Bills, JBJ has to bid at least 30% of the final price. JBJ's net worth is $300M, so the most his group could bid is $1.2B. Also, JBJ has made no assurances that his group will keep the Bills in Buffalo beyond the current lease with Erie County. Edited September 8, 2014 by Jerry Jabber
What a Tuel Posted September 8, 2014 Posted September 8, 2014 i havent been paying attention lately, but I thought the Toronto group kicked Bon Jovi out?
jahbonas Posted September 8, 2014 Posted September 8, 2014 Meaning nothing put in place or directive to make sure it goes to a local bidder?
RJ (not THAT RJ) Posted September 8, 2014 Posted September 8, 2014 Please God, jahbonas... just let it go.
SRQ_BillsFan Posted September 8, 2014 Posted September 8, 2014 They should not even be considered since they really cannot be trusted to keep the team in Buffalo. I dont care what they may sign. What happens if JBJ offers 1.5 and Pegula offers 1.3? I'm hoping that is why Tommy G. is hanging around. I hope it's not likely however.
jahbonas Posted September 8, 2014 Posted September 8, 2014 Please God, jahbonas... just let it go. Let what go??? Our franchise??? Sorry its way too important to be so dismissive - and yes if the team stays I do want to know what provisions Ralph made to keep the team here - because if he did I'd want to thank his family and be behind an effort to have a statue put in his name. If however he provided no directive above the existing lease and its simply Pegula paying more than JBJ - then sorry no statue and no name on stadium.
Jerry Jabber Posted September 8, 2014 Posted September 8, 2014 Meaning nothing put in place or directive to make sure it goes to a local bidder? I take it you haven't been following the sales process closely. The Bills trust was set up by Mr. Wilson before his death composing of Mrs. Wilson and other Bills front office management with the intention of selling it to a person/group that will commit to keeping the Bills in Buffalo long-term (beyond the current lease). The Bills trust had it's bank create a very strict Non-Disclosure Agreement stating it would not sell to a person/group who it felt would move the Bills out of Western New York.
The Dean Posted September 8, 2014 Posted September 8, 2014 JBJ does not have the money to bid $1.5B. In order to be controlling owner of the Bills, JBJ has to bid at least 30% of the final price. JBJ's net worth is $300M, so the most his group could bid is $1.2B. Also, JBJ has made no assurances that his group will keep the Bills in Buffalo beyond the current lease with Erie County. That's the speculation. Though nobody really knows what JBJ's true net worth. That's what Forbe's reports, but it doesn't make it so. Still it's hard to believe than can go toe-to-toe with Pegs. i havent been paying attention lately, but I thought the Toronto group kicked Bon Jovi out? Bad rumor, it seems. Meaning nothing put in place or directive to make sure it goes to a local bidder? Why do you believe this? The Trust is clearly operating to keep the team in Buffalo., That's been obvious from the start. Since the terms of the Trust are private, we don't know the exact wording, or if Ralph simply gave instructions to Mary/Russ/Whomever. If there were no directive of any sort to make sure the team stays in Buffalo, there would likely be more bidders for the team. As far as I know, none of the bidders lives in Buffalo, if that's what you mean.
RJ (not THAT RJ) Posted September 8, 2014 Posted September 8, 2014 In your zeal you misread the point of my posts. My point was that the trust will sell to the buyer they choose... not necessarily the highest bidder. That has always been the case. It has also always been the case that the trust has been leaning toward buyers who will keep the team in the area. Hence the lack of outside bidders. Only you appear to be in doubt about this, and it was your insistence on some kind of definitive text that I was imploring you to let go. If holding onto that already asked and answered question makes you feel smart, then have at it. We will all celebrate together when the team stays in WNY.
jahbonas Posted September 8, 2014 Posted September 8, 2014 I take it you haven't been following the sales process closely. The Bills trust was set up by Mr. Wilson before his death composing of Mrs. Wilson and other Bills front office management with the intention of selling it to a person/group that will commit to keeping the Bills in Buffalo long-term (beyond the current lease). The Bills trust had it's bank create a very strict Non-Disclosure Agreement stating it would not sell to a person/group who it felt would move the Bills out of Western New York. There is zero proof this is in place at all - only thing anyone knows is the lease thats public. And exactly what degree of proof must a buyer offer the trust to allow them to walk away with the most money and claim its safe that the group wont ever move the team?? Pegula and his local ties we know will not move the team ever - its v v v irksome that anyone with no real local ties is able to possibly win the bid.
What a Tuel Posted September 8, 2014 Posted September 8, 2014 Bad rumor, it seems. And thats why I have stopped paying attention. The rumors, and media exploiting this for clicks is out of control.
jahbonas Posted September 8, 2014 Posted September 8, 2014 "Hence the lack of outside bidders" is due to the Lease itself that still has 6 years on it - and thank God this transfer of the team occurred while so many years still existed. The lease cannot be broken and because so will keep away many bids. That has nothing to due with the Trust - all these claims that RW instructed to the Trust to sell locally is all wishful thinking - until any of us are shown otherwise
Buffalo_Stampede Posted September 8, 2014 Posted September 8, 2014 Dont believe all the hype. Right now what is happening is Morgan Stanley is trying to get the Pegula's to second guess their bid and bid higher. Its basically a 2 round poker match now with Morgan Stanley bluffing the Pegula's.
GA BILLS FAN Posted September 8, 2014 Posted September 8, 2014 ^ Consensus on board and through rumors and sources is that the LEASE is a binding agreement that limits movement (that's a given) -- the second aspect, is that the trust was given a directive by Ralph (no proof in writing has surfaced, but their actions suggest it exists) to not sell to buyer that has any intention on moving team.
jahbonas Posted September 8, 2014 Posted September 8, 2014 Dont believe all the hype. Right now what is happening is Morgan Stanley is trying to get the Pegula's to second guess their bid and bid higher. Its basically a 2 round poker match now with Morgan Stanley bluffing the Pegula's. You could be right - and if you are the Pegulas and bid higher and win the bid. How liking of the Trust and RW might you be after such a process?? If I'm Pegulas I say no reference to RW in the stadium if they dealt in such a way
The Dean Posted September 8, 2014 Posted September 8, 2014 There is zero proof this is in place at all - only thing anyone knows is the lease thats public. And exactly what degree of proof must a buyer offer the trust to allow them to walk away with the most money and claim its safe that the group wont ever move the team?? Pegula and his local ties we know will not move the team ever - its v v v irksome that anyone with no real local ties is able to possibly win the bid. Well you can choose to be irked if you like. Me, I don't think it is irksome at all, since I'm not confused by this at all. Just because the wording of the Trust isn't public doesn't mean the directive isn't there. The Trust has already demonstrated, to my satisfaction, they are operating with the interests of Buffalo in mind. But go ahead and worry, if that makes you happy.
billsfan1973 Posted September 8, 2014 Posted September 8, 2014 JBJ does not have the money to bid $1.5B. In order to be controlling owner of the Bills, JBJ has to bid at least 30% of the final price. JBJ's net worth is $300M, so the most his group could bid is $1.2B. Also, JBJ has made no assurances that his group will keep the Bills in Buffalo beyond the current lease with Erie County. Sorry, and I'm probably wrong but isn't $300 million 30 % of $1 Billion even?
Kirby Jackson Posted September 8, 2014 Posted September 8, 2014 Let what go??? Our franchise??? Sorry its way too important to be so dismissive - and yes if the team stays I do want to know what provisions Ralph made to keep the team here - because if he did I'd want to thank his family and be behind an effort to have a statue put in his name. If however he provided no directive above the existing lease and its simply Pegula paying more than JBJ - then sorry no statue and no name on stadium. You don't want to believe it despite being told numerous times by some people in the know. The team will be in WNY.
The Dean Posted September 8, 2014 Posted September 8, 2014 Sorry, and I'm probably wrong but isn't $300 million 30 % of $1 Billion even? Well, actually $300 million is 30% of $900 million.
Augie Posted September 8, 2014 Posted September 8, 2014 ^ Consensus on board and through rumors and sources is that the LEASE is a binding agreement that limits movement (that's a given) -- the second aspect, is that the trust was given a directive by Ralph (no proof in writing has surfaced, but their actions suggest it exists) to not sell to buyer that has any intention on moving team. I thought that was very clear and concise. I also think you will fail to make your point to those who refuse to hear it.
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