Big Turk Posted July 1, 2014 Share Posted July 1, 2014 (edited) Link? Being reported by Kryk from the Toronto Sun from source with knowledge Edited July 1, 2014 by matter2003 Link to comment Share on other sites More sharing options...
BillnutinHouston Posted July 2, 2014 Share Posted July 2, 2014 (edited) Being reported by Kryk from the Toronto Sun from source with knowledge Well, Kryk on WGR this morning said that Toronto bidders (at least Rogers) "may" be backing off because of "whispers" that the trust is only seeking bids that include long term plans in Buffalo. The audio is posted on GR's On-demand audio section, but I wasn't able to link it here. I want to take Kryk at his word, but his audio sounded to me like speculation rather than solid reporting. Edited July 2, 2014 by BillnutinHouston Link to comment Share on other sites More sharing options...
CodeMonkey Posted July 2, 2014 Share Posted July 2, 2014 Well, Kryk on WGR this morning said that Toronto bidders (at least Rogers) "may" be backing off because of "whispers" that the trust is only seeking bids that include long term plans in Buffalo. The audio is posted on GR's On-demand audio section, but I wasn't able to link it here. I want to take Kryk at his word, but his audio sounded to me like speculation rather than solid reporting. There is a NDA in place with everyone who knows anything so all he can be doing is speculating. Link to comment Share on other sites More sharing options...
8-8 Forever? Posted July 2, 2014 Share Posted July 2, 2014 (edited) Who is going to overpay? Tanenbaum is worth just North of $1 Billion, and Bon Jovi has like $300-$400 million, probably after selling a lot of guitars. MLSE as an entire company is "only" worth just over $2 Billion and that includes some of Tanenbaum's equity. Leiweke has a lot of money, but not a billionaire. If Pegula wants it, he is going to get it. Rogers' bid was the one real threat of Toronto coming over the top and taking it. I guess there are various boogeymen still in LA who would/could overpay, but Toronto has always been the threat here. I would imagine most of the payment for the franchise will be from borrowed money, so no one is coming up with a billion out of their pocket. I forget the debt / equity split in the redskins buy, but I would imagine only $300-400m is coming out of anyones pocket in this deal. NFL franchises are probably very bankable, so any buyer will only be coming up with 40 - 50%of the bid price, if that much. So the net worth of the buyer is less of an issue. As long as someone has $500m to $1B in net worth, they are good to go to bid i would imagine. Edited July 2, 2014 by 8and8Forever Link to comment Share on other sites More sharing options...
SRQ_BillsFan Posted July 2, 2014 Share Posted July 2, 2014 (edited) NFL rules state you can only have $200 million financed in the deal. Edited July 2, 2014 by SRQ_BillsFan Link to comment Share on other sites More sharing options...
mousetrap08 Posted July 2, 2014 Share Posted July 2, 2014 Only! 300-400 million dollars? Link to comment Share on other sites More sharing options...
Rubes Posted July 2, 2014 Share Posted July 2, 2014 Can't anybody generate some fake Bills sale-related news today? Just to take our minds off of Kiko? Link to comment Share on other sites More sharing options...
Wayne Cubed Posted July 2, 2014 Share Posted July 2, 2014 (edited) I would imagine most of the payment for the franchise will be from borrowed money, so no one is coming up with a billion out of their pocket. I forget the debt / equity split in the redskins buy, but I would imagine only $300-400m is coming out of anyones pocket in this deal. NFL franchises are probably very bankable, so any buyer will only be coming up with 40 - 50%of the bid price, if that much. So the net worth of the buyer is less of an issue. As long as someone has $500m to $1B in net worth, they are good to go to bid i would imagine. The NFL doesn't allow for a person buying the team to use more than $200 million in finance. They don't want a franchise incurring a load of debt and have that new owner struggling to pay it off. The majority of the purchase of the Bills will in fact be in cash. Edited July 2, 2014 by Wayne Cubed Link to comment Share on other sites More sharing options...
SF Bills Fan Posted July 2, 2014 Share Posted July 2, 2014 After the news of Kiko, i know we are truly cursed. I'm not worried about any outside groups wanting to buy the team. Why would they want this cursed team? It is like buying a very expensive and very haunted house. Link to comment Share on other sites More sharing options...
Chandler#81 Posted July 2, 2014 Share Posted July 2, 2014 After the news of Kiko, i know we are truly cursed. I'm not worried about any outside groups wanting to buy the team. Why would they want this cursed team? It is like buying a very expensive and very haunted house. Ah! But therein lies the issue. A new owner demands and gets a brandy-spankin' new play palace ANYWHERE in WNY but Orchard Park, and the curse following this team since Herb Mul-key's kickoff return will be lifted. The Indian burial ground the Ralph is built on will once again return to eternal sleep. Link to comment Share on other sites More sharing options...
ET1062 Posted July 2, 2014 Share Posted July 2, 2014 The NFL doesn't allow for a person buying the team to use more than $200 million in finance. They don't want a franchise incurring a load of debt and have that new owner struggling to pay it off. The majority of the purchase of the Bills will in fact be in cash. It's a good thing that El Pegual has $1.7 Billion in Cold Hard Cash! Link to comment Share on other sites More sharing options...
Big Turk Posted July 2, 2014 Share Posted July 2, 2014 Well, Kryk on WGR this morning said that Toronto bidders (at least Rogers) "may" be backing off because of "whispers" that the trust is only seeking bids that include long term plans in Buffalo. The audio is posted on GR's On-demand audio section, but I wasn't able to link it here. I want to take Kryk at his word, but his audio sounded to me like speculation rather than solid reporting. I dunno, the dude has reported things several times now that no one else had...imo he has someone he is connected to in Toronto that might be a high level person involved... Bon Jovi meets with Goodell, then turns around a few weeks later and said he wouldn't move the team...Kryk reporting its because they are being told the team isn't moving...has to have a source feeding him info from somewhere... Link to comment Share on other sites More sharing options...
ET1062 Posted July 2, 2014 Share Posted July 2, 2014 El Pegual hires sports-business slugger Steve Greenberg to oversee pursuit of Bills http://bills.buffalonews.com/2014/07/02/pegulas-hire-sports-business-slugger-steve-greenberg-oversee-pursuit-bills/ Link to comment Share on other sites More sharing options...
Big Turk Posted July 2, 2014 Share Posted July 2, 2014 Wanted to add to my comment from this morning what I was told by a local high-level manager re: Pegula buying the Bills which I think is important and also would add to the comments/reports of his impending ownership. The person I spoke with stated that Pegula has/is meeting with other owners and in addition to his much publicized sale of OGM leases, he's liquidated other financial assets/instruments, although I don't think he'd need to given the sale price of the OGM leases. This seems to be getting leaked by quite a few people that have some knowledge...lawyers working with Bills attorneys, high level managers, people involved in land development/potential stadium sites... At this point it would be a little shocking if it didn't go down Link to comment Share on other sites More sharing options...
KDIGGZ Posted July 2, 2014 Share Posted July 2, 2014 El Pegual hires sports-business slugger Steve Greenberg to oversee pursuit of Bills http://bills.buffalonews.com/2014/07/02/pegulas-hire-sports-business-slugger-steve-greenberg-oversee-pursuit-bills/ thanks for the link. looks like the sales books won't be sent out or received until after the holiday weekend. so we are probably at least a few weeks away from any serious negotiations. they will need their people and their lawyers to look everything over and that takes time. we probably won't hear any news until after training camp starts at this rate Link to comment Share on other sites More sharing options...
GG Posted July 2, 2014 Share Posted July 2, 2014 El Pegual hires sports-business slugger Steve Greenberg to oversee pursuit of Bills http://bills.buffalonews.com/2014/07/02/pegulas-hire-sports-business-slugger-steve-greenberg-oversee-pursuit-bills/ That's certainly a big league hire. But another hint to Timma, stick to twit wars, and don't pretend to understand the business page. What the heck does this mean, "Even if they were to be released today or Thursday, billionaires generally aren't in their offices right up until a holiday weekend anyway." Link to comment Share on other sites More sharing options...
eball Posted July 2, 2014 Share Posted July 2, 2014 That's certainly a big league hire. But another hint to Timma, stick to twit wars, and don't pretend to understand the business page. What the heck does this mean, "Even if they were to be released today or Thursday, billionaires generally aren't in their offices right up until a holiday weekend anyway." Hilarious, the exact same comment stuck out to me. That's Timmah, trying to be funny rather than actually providing some insight. Link to comment Share on other sites More sharing options...
KDIGGZ Posted July 2, 2014 Share Posted July 2, 2014 What the heck does this mean, "Even if they were to be released today or Thursday, billionaires generally aren't in their offices right up until a holiday weekend anyway." it means they are out of the office and on their yacht floating around and relaxing during the holiday weekend Link to comment Share on other sites More sharing options...
GG Posted July 2, 2014 Share Posted July 2, 2014 Hilarious, the exact same comment stuck out to me. That's Timmah, trying to be funny rather than actually providing some insight. Somebody should clue Timma in that billionaires have mobile access and email, or at least have a staff of toadies who have mobile access and email, and can deliver the news to the billionaire. Link to comment Share on other sites More sharing options...
SF Bills Fan Posted July 2, 2014 Share Posted July 2, 2014 Ah! But therein lies the issue. A new owner demands and gets a brandy-spankin' new play palace ANYWHERE in WNY but Orchard Park, and the curse following this team since Herb Mul-key's kickoff return will be lifted. The Indian burial ground the Ralph is built on will once again return to eternal sleep. Very good point there. But, with our luck, they will build in Niagara Falls on another Indian burial ground. Link to comment Share on other sites More sharing options...
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