The Wiz Posted May 21, 2014 Share Posted May 21, 2014 (edited) Can't believe they didn't choose Cellino & Barnes as legal counsel They would have but couldn't locate the ambulance they were chasing. I know there is a non-disclosure agreement on the bids (details of the bid) but is there a disclosure on who has put a bid in? I'm sure this stuff gets leaked to the media anyways but was curious. Edited May 21, 2014 by The Wiz Link to comment Share on other sites More sharing options...
May Day 10 Posted May 21, 2014 Share Posted May 21, 2014 hmm. interesting so by the end of June we will be ready to move on... Link to comment Share on other sites More sharing options...
Canadian Bills Fan Posted May 21, 2014 Author Share Posted May 21, 2014 I'm glad. Either way its good to get closure CBF Link to comment Share on other sites More sharing options...
26CornerBlitz Posted May 21, 2014 Share Posted May 21, 2014 Can't believe they didn't choose Cellino & Barnes as legal counsel They would have been chosen, but the Bills couldn't find their phone number. Link to comment Share on other sites More sharing options...
Canadian Bills Fan Posted May 21, 2014 Author Share Posted May 21, 2014 They would have been chosen, but the Bills couldn't find their phone number. LOL CBF Link to comment Share on other sites More sharing options...
CodeMonkey Posted May 21, 2014 Share Posted May 21, 2014 Can't believe they didn't choose Cellino & Barnes as legal counsel Couldn't. Erie county already retained them in case the Bills try and move Link to comment Share on other sites More sharing options...
BillsFan-4-Ever Posted May 21, 2014 Share Posted May 21, 2014 Morgan Stanley is what is posted on ESPN. http://espn.go.com/nfl/story/_/id/10964356/buffalo-bills-hire-firms-facilitate-sale-franchise The Buffalo Bills have retained investment bank Morgan Stanley and law firm Proskauer Rose to serve as financial and legal advisers, respectively, in the team's upcoming sale. The two firms will form the Bills' "transaction team" and are expected to contact prospective buyers within the next 30 days, the Bills said in a statement Wednesday. Link to comment Share on other sites More sharing options...
Big Turk Posted May 21, 2014 Share Posted May 21, 2014 (edited) Prominent NFL owners say "There are not enough votes for an owner to relocate the Bills in that room" and that anyone purchasing the team "Should be prepared to remain there". Enough owners know that Buffalo is part of the soul of the NFL and that tearing away a team from this area, much like it was for Cleveland was wrong. I think enough owners learned from that mistake...you don't take teams from places like Green Bay, Buffalo, Cleveland, Pittsburgh and Chicago to put them in places like LA, where people could give two craps about football for the most part. Money is important, but not at the expense of a shining example of everything that is right with the NFL in a place like Buffalo Edited May 21, 2014 by matter2003 Link to comment Share on other sites More sharing options...
Canadian Bills Fan Posted May 21, 2014 Author Share Posted May 21, 2014 Prominent NFL owners say "There are not enough votes for an owner to relocate the Bills in that room" and that anyone purchasing the team "Should be prepared to remain there". Enough owners know that Buffalo is part of the soul of the NFL and that tearing away a team from this area, much like it was for Cleveland was wrong. I think enough owners learned from that mistake...you don't take teams from places like Green Bay, Buffalo, Cleveland, Pittsburgh and Chicago to put them in places like LA, where people could give two craps about football for the most part. Money is important, but not at the expense of a shining example of everything that is right with the NFL in a place like Buffalo Any link? CBF Link to comment Share on other sites More sharing options...
May Day 10 Posted May 21, 2014 Share Posted May 21, 2014 We pretty much know Green Bay would not approve a relocation. I heard somewhere that Baltimore's owner is dead set against any relocation as his heart was broken when the Colts moved. Link to comment Share on other sites More sharing options...
jimmy10 Posted May 21, 2014 Share Posted May 21, 2014 Prominent NFL owners say "There are not enough votes for an owner to relocate the Bills in that room" That's a lawyer's dodge. If you read carefully, they're saying there are not enough votes to actually relocate the Bills to that conference room at a hotel where they were meeting. Secondly, doom. Also, gloom. The trust is cheap. Amen. Link to comment Share on other sites More sharing options...
YoloinOhio Posted May 22, 2014 Share Posted May 22, 2014 Tim Graham @ByTimGraham 2h Knowledgable source tells me selling the Bills in time for approval at October owners meeting remains highly ambitious, but possible. Link to comment Share on other sites More sharing options...
Big Turk Posted May 22, 2014 Share Posted May 22, 2014 (edited) That's a lawyer's dodge. If you read carefully, they're saying there are not enough votes to actually relocate the Bills to that conference room at a hotel where they were meeting. Secondly, doom. Also, gloom. The trust is cheap. Amen. Yes, them saying whoever buys the team should be prepared to stay there I'm sure somehow was really a cryptic, "Little Orphan Annie" secret coded message to potential ownership groups looking to move the team that they had mailed secret decoder rings to... Only the groups looking to move the team got them, so they now know what the ultimate plan is by the owners... Something about drinking their Ovaltine too, apparently... SMFH :wallbash: :wallbash: :wallbash: :wallbash: Edited May 22, 2014 by matter2003 Link to comment Share on other sites More sharing options...
truth on hold Posted May 22, 2014 Share Posted May 22, 2014 It looks like Morgan Stanley will be handling it. How much will they get paid? Link to comment Share on other sites More sharing options...
Kirby Jackson Posted May 22, 2014 Share Posted May 22, 2014 How much will they get paid? I didn't see the specifics. That is what I do now, sell small and middle market companies. We get 12% for the first $2M, 10% the next $2M, 8% the next $2M, etc... The majority of our deals are under $2M so our percentage is much higher but the overall commission much smaller. My guess is that they get .5%-1% but that is a total guess. If the team sells for $1B they would get $5M-$10M. Link to comment Share on other sites More sharing options...
truth on hold Posted May 22, 2014 Share Posted May 22, 2014 I didn't see the specifics. That is what I do now, sell small and middle market companies. We get 12% for the first $2M, 10% the next $2M, 8% the next $2M, etc... The majority of our deals are under $2M so our percentage is much higher but the overall commission much smaller. My guess is that they get .5%-1% but that is a total guess. If the team sells for $1B they would get $5M-$10M. in the 60's when RW paid $25K for the rights, who would have thought the selling commission alone would be a very large multiple? Link to comment Share on other sites More sharing options...
Canadian Bills Fan Posted May 22, 2014 Author Share Posted May 22, 2014 Not a bad deal at all! CBF Link to comment Share on other sites More sharing options...
Kirby Jackson Posted May 22, 2014 Share Posted May 22, 2014 in the 60's when RW paid $25K for the rights, who would have thought the selling commission alone would be a very large multiple? Ha ha, I never really thought about it like that. That is pretty crazy. Link to comment Share on other sites More sharing options...
26CornerBlitz Posted May 23, 2014 Share Posted May 23, 2014 Bills sale process: An FAQ This week has seen several developments around the Buffalo Bills' sale process. From investment banks to prospective bidders to comments from current NFL owners, it's been a busy stretch. If you are having trouble keeping track of it all, you probably aren't alone. To summarize where things stand, let's answer some "frequently asked questions" about the process: Link to comment Share on other sites More sharing options...
26CornerBlitz Posted May 23, 2014 Share Posted May 23, 2014 What’s next in Buffalo Bills sale process: What happens this summer? Who’s bidding? What kind of bidder wins? And more. Now that the Buffalo Bills have named an investment bank and law firm to handle the sale of the NFL club, what now? On Wednesday the team announced it has chosen Morgan Stanley and Proskauer Rose, respectively, to run the sale. Directing that “transaction team” will be the unnamed trustees of the late Ralph Wilson’s estate, reported to be his widow Mary, his niece and Bills executive-VP Mary Owen, Bills CFO Jeff Littman and another lawyer. On Tuesday at the NFL spring meeting in Atlanta, Bills CEO and president Russ Brandon declined to name the trustees. In the short term, then, what’s next? Link to comment Share on other sites More sharing options...
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