beggar13 Posted June 25, 2014 Share Posted June 25, 2014 Does every potential buyer post one blind bid and the highest bid wins, or do the potential buyers see what the highest bid is at any given point and are given the opportunity to up their own bid? Thanks! Link to comment Share on other sites More sharing options...
Bangarang Posted June 25, 2014 Share Posted June 25, 2014 (edited) This isn't an eBay auction where the highest bid wins the team. Edited June 25, 2014 by Bangarang Link to comment Share on other sites More sharing options...
Canadian Bills Fan Posted June 25, 2014 Share Posted June 25, 2014 (edited) Ask and you shall receive. http://www.torontosu...ls-sale-process http://msn.foxsports.com/nfl/story/buffalo-bills-prospective-buyers-contacted1-061914 "The NFL wants to know that they can be partners with somebody that they can trust so if somebody's out there making a lot of noise in the media, I'm going to do this, I'm going to do that, that's not how NFL owners conduct themselves," he said. - See more at: http://buffalo.twcne...h.b6tb0xoG.dpuf Like this quote and what it means for Trump CBF Edited June 25, 2014 by Canadian Bills Fan Link to comment Share on other sites More sharing options...
Direhard Fan Posted June 25, 2014 Share Posted June 25, 2014 Very good question and article in the Sun. Thanks Link to comment Share on other sites More sharing options...
May Day 10 Posted June 25, 2014 Share Posted June 25, 2014 Yeah, Kryk has been all over this story the entire time. I commented props on one of his columns and he emailed me a quick thank you. Thought it was cool. He has provided very thorough, objective facts and analysis. Link to comment Share on other sites More sharing options...
BarleyNY Posted June 25, 2014 Share Posted June 25, 2014 Very good question and article in the Sun. Thanks Agreed. Everyone should read that. Link to comment Share on other sites More sharing options...
BuffaloBill Posted June 25, 2014 Share Posted June 25, 2014 Ask and you shall receive. http://www.torontosu...ls-sale-process http://msn.foxsports.com/nfl/story/buffalo-bills-prospective-buyers-contacted1-061914 Thanks CBF as that TO Sun article was exceptionally informative. Though I will say after reading it that given the consortium stance of the NFL i am more concerned that a buyer who will move the team is likely to emerge. Like this quote and what it means for Trump CBF Link to comment Share on other sites More sharing options...
beggar13 Posted June 25, 2014 Author Share Posted June 25, 2014 Thanks guys! Link to comment Share on other sites More sharing options...
beggar13 Posted June 25, 2014 Author Share Posted June 25, 2014 Since you get one crack at placing a bid, it makes me wonder what type of planning goes into it. Take Pegula for example... how do you imagine he comes up with that magic number to where he feels he is safely outbidding everyone, and at the same time, not massively overpaying? It kind of worries me that a Toronto based group could just come in with a ridiculously high bid and steal the team simply because they were able to amass the resources and know that this is Toronto's best chance of ever getting a team. I'm not super worried about it, but I won't even feel close to at ease until this whole thing is resolved and the team stays put. Link to comment Share on other sites More sharing options...
chaccof Posted June 25, 2014 Share Posted June 25, 2014 Beggar - I didn't get the impression from the Sun article that there is any obligation for the buyer to be compelled to sell to the highest bidder. It also sounds like there are other factors besides offer price that count in the decision.... Link to comment Share on other sites More sharing options...
hondo in seattle Posted June 25, 2014 Share Posted June 25, 2014 I was just involved in bidding on a company that was controlled by a trust. The process isn't as straightforward as some might think. At least, it wasn't in this case. Different bids were structured differently and so it was hard to truly compare apples to apples. Several bidders were eliminated early because doubts about them securing financing or the necessary approvals. Each of the bidders in the top 5 were told what the trust didn't like about their bid and we were allowed to restructure or increase our offers. Link to comment Share on other sites More sharing options...
TSNBDSC Posted June 25, 2014 Share Posted June 25, 2014 Stayin Link to comment Share on other sites More sharing options...
thewildrabbit Posted June 25, 2014 Share Posted June 25, 2014 My favorite part. In saying that Trump, Pegula, and the single bidders will have a big edge in buying the team. So, F off Jon Bon Jovi "Based on modern NFL history, single-person bidders hold a tremendous advantage over group/consortium/syndicate bids." "It is highly unlikely -- highly unlikely -- that any NFL team is going to be sold to a syndicate. Not just the Bills but any NFL team," said Marc Ganis, who as president of Chicago-based Sports Corp. Ltd. is a long-time expert in the field of pro sports franchise relocation's." http://www.torontosun.com/2014/05/23/whats-next-in-bills-sale-process Link to comment Share on other sites More sharing options...
TheLynchTrain Posted June 26, 2014 Share Posted June 26, 2014 Since you get one crack at placing a bid, it makes me wonder what type of planning goes into it. Take Pegula for example... how do you imagine he comes up with that magic number to where he feels he is safely outbidding everyone, and at the same time, not massively overpaying? I think anyone who's bought a home can relate. While I understand purchasing a home is radically different than buying a damn football team, fundamentally, they're both just assets. You crunch the numbers, check out past comps, and speak with folks in the know. But at the end of the day, its as much of a gut decision - will I be happy with this purchase? Can I make a good investment when I sell? If not, can I stomach losing money, and how much? My favorite part. In saying that Trump, Pegula, and the single bidders will have a big edge in buying the team. So, F off Jon Bon Jovi "Based on modern NFL history, single-person bidders hold a tremendous advantage over group/consortium/syndicate bids." "It is highly unlikely -- highly unlikely -- that any NFL team is going to be sold to a syndicate. Not just the Bills but any NFL team," said Marc Ganis, who as president of Chicago-based Sports Corp. Ltd. is a long-time expert in the field of pro sports franchise relocation's." http://www.torontosu...ls-sale-process While I wish I could agree, I don't necessarily know if that actually refers to Bon Jovi. My impression is that Bon Jovi is just the figurehead for the Rogers bid (a la Jay Z with Nets); a guy who is well liked in ownership circles (Kraft, JJ, Goodell) as well as the Toronto business and political community. And while he's worth a couple hundred mil, I'll take an uneducated guess that he probably won't put much of his own money down. The Rogers family could foot the bill themselves, but they see Bon Jovi as adding value to their bid. So yes, I guess you could call this Rogers/BJ group a syndicate. But I get the impression the syndicate the Sun speaks of is a group of folks that individually wouldn't have the cash to go it alone, like when Mark Hammister tried and failed to put a group of investors together to buy the Sabres ten years ago. Just my two cents. Link to comment Share on other sites More sharing options...
Canadian Bills Fan Posted June 26, 2014 Share Posted June 26, 2014 Just read that Howard Milstein will not bid on the Bills. Old news I think but here is the link anyway http://www.torontosun.com/2014/05/12/banker-howard-milstein-pulls-out-of-bills-sweepstakes CBF Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 26, 2014 Share Posted June 26, 2014 (edited) Ask and you shall receive. http://www.torontosu...ls-sale-process http://msn.foxsports...ntacted1-061914 Like this quote and what it means for Trump CBF From a quick read of the process and criteria it sounds like Pegula's mutli-billion dollar liquidity and single bidder status would put him near the top when ranking against the league's owners criteria. And if his bid is in the ballpark or the highest, and all cash, that would score points on the bid and payment and provide a straight path for the trust. No loans, no credit risk. Of the 'known' potential bidders to date my guess is Terry sounds like the right fit for the NFL owners along with an all cash payment to the Wilson trust. Edited June 26, 2014 by All_Pro_Bills Link to comment Share on other sites More sharing options...
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