New sale of team thread

[BigdaddyinOrlando]

We will never get the leak early as in the eyes of the nfl coverage networks we arent relative enough to have our own: Ed " I sift thru jerry jones' poop daily" Werder or Sal " I love me some Lauria" Palotonio!!

Edited July 30, 2014 by BigdaddyinOrlando

[thebandit27]

Make no mistake - the "leaks" we are hearing are well placed...It vets out the riff raff and news maker bids. As I understand, they have leaked out that Pegula's bid is a QTR Billion more than the JBJ Group. Unless they are willing to step up, this is basically over other than the ownership vote...

 

As a practical matter, it's likely over anyway...I think you know that

 

You mean until he sells to someone else? So make sure its someplace that won't hurt anyone when the masses tear it down.

 

^Can't...help...it...must...crap...in...punchbowl.

[Big Turk]

Pretty sure if it came down to it, Golisano and/or Jacobs "family" would jump on board with Moneybags Pegula to form a monster group with funds in the $8-9 billion range which would make it virtually impossible for anyone to compete with them...

Edited July 30, 2014 by matter2003

[FluffHead]

I can't believe the lack of respect for Levitre from this Board.

 

I see your Levitre and raise you one Sir Chas Rheingold

[PastaJoe]

 

A billion from the Donald? I'm surprised he made a bid that strong. I figured he'd be around $750MM just for show.

 

Trump would probably be sweating if his bid turned out to be the highest. "Oh crap, you mean I actually have to pay up for my latest publicity grab?!"

[Over 29 years of fanhood]

Freed up cash up to 1.75b.. A bigger wallet and a billionaire ego.

 

Pegula wins. Only question is how much the competition wil bid him up.

[PromoTheRobot]

And by the way both the El Pegual and Jon-Blow-Me bids shatter the previous record price for an NFL franchise. ($1.1B for the Dolphins)

[voodoo poonani]

And by the way both the El Pegual and Jon-Blow-Me bids shatter the previous record price for an NFL franchise. ($1.1B for the Dolphins)

 

Wasn't the Cleveland sale speculated to be $1.2B?

[Canadian Bills Fan]

how is that possible? Wasn't there a time frame when he had to submit? Isn't that over?

 

 

I agree.

 

It isn’t fair. So he could just sit back and wait for reports to leak about what the highest bid was and then bid higher?

 

Not fair

 

CBF

[Big Turk]

And by the way both the El Pegual and Jon-Blow-Me bids shatter the previous record price for an NFL franchise. ($1.1B for the Dolphins)

 

Who has reported NBJ was 1.2? The only thing I could find was someone saying Pegula's bid was 250 million more than their's which would put their bid at $1.05 B?

[The Wiz]

 

 

I agree.

 

It isn’t fair. So he could just sit back and wait for reports to leak about what the highest bid was and then bid higher?

 

Not fair

 

CBF

He might be able to put in a bid but it's the trust that would then determine whether to accept it or not. Since he didn't file the NDA any future bids could be simply ignored. If he filed the NDA with a bid of 1B then he would have the option to bid again later if he was consider as a finalist. Now, he's basically just hoping they would accept a bid if he put one in.

[Doc]

You mean until he sells to someone else? So make sure its someplace that won't hurt anyone when the masses tear it down.

Been around here long?

[YoloinOhio]

Wasn't the Cleveland sale speculated to be $1.2B?

Haslam paid 1 billion in total. He paid 700 million for controlling interest in 2012, with Lerner retaining a 30% stake and will (or has the option to) pay another 300 million at a later date to buy him out completely once 4 years has passed from the time of sale. Edited July 30, 2014 by YoloinOhio

[jrb2590]

i wonder if jim kelly ever had a plan or a group to keep the bills in buffalo, or if it was donald trump, or he knew about pegula so he wasn't worried

[All_Pro_Bills]

From all the news 'leaks' it sounds like TP's bid was the highest and topped out around $1.25B. I'm not at all familiar with the process such as whether or not more bidders can submit proposals or if this transitions into a competitive bidding contest between specific choosen finalists.

 

But I expect Pegula will emerge victorious here. Which constitutes a victory for Bills fans everywhere. It provides stability for the franchise and the league while raising the bar on the valuation front for all franchises, something the owners are certainly going to be happy with seeing. And its an 'all cash' offer, no mess, no fuss with investment banks and finances or 3rd parties being involved or complicated ownership arrangements. Just TP walking into the commissioners office with a suitcase full of $100's, laying it on the table, and opening it up, and and the trust saying 'deal'.

Edited July 30, 2014 by All_Pro_Bills

[Big Turk]

i wonder if jim kelly ever had a plan or a group to keep the bills in buffalo, or if it was donald trump, or he knew about pegula so he wasn't worried

 

Kelly obviously knew the Bills were no virtually no danger of leaving since he has been relatively quiet throughout this whole process...

[Wayne Cubed]

Make no mistake - the "leaks" we are hearing are well placed...It vets out the riff raff and news maker bids. As I understand, they have leaked out that Pegula's bid is a QTR Billion more than the JBJ Group. Unless they are willing to step up, this is basically over other than the ownership vote...

 

Wow. That's crazy. I wondered if Pegula would put in a strong initial bid just to weed everyone out.

[Tyrod's Tailor]

Kelly obviously knew the Bills were no virtually no danger of leaving since he has been relatively quiet throughout this whole process...

 

Um, I'm pretty sure he has other issues on his plate right now.

[Kelly the Dog]

 

 

Um, I'm pretty sure he has other issues on his plate right now.

True. But throughout he has still spoke about it, and he showed up recently at his annual football camp, and I guarantee he has been in touch with people like Pegula and Golisano. It's a very good bet that if there were any chance the team was in danger of leaving, even with his more serious matters, that he would be active. He's doing very well all things considered.

[Wayne Cubed]

 

 

Who has reported NBJ was 1.2? The only thing I could find was someone saying Pegula's bid was 250 million more than their's which would put their bid at $1.05 B?

 

No one has said that, it's been a bad game of telephone. Someone thought Timmy tweeted that Trump bid $1 Billion, what he actually said was $1. Then they guess that JBJs group was $1.2 billion and Pegula bid $1.3 billion, neither have been confirmed.

[BringBackFergy]

I see your Levitre and raise you one Sir Chas Rheingold

Damn, that would be a great statue...Levitre, Rheingold and Byrd...walking hand in hand toward the Buffalo Airport.

[Kelly the Dog]

 

 

No one has said that, it's been a bad game of telephone. Someone thought Timmy tweeted that Trump bid $1 Billion, what he actually said was $1. Then they guess that JBJs group was $1.2 billion and Pegula bid $1.3 billion, neither have been confirmed.

Well nothing is going to be confirmed. There is an article right now on the Buffnews saying that all three bids were over a billion, and Pegula is around 1.3. I think Toronto guys were reporting the JBJ bid was 1.2

[Tyrod's Tailor]

True. But throughout he has still spoke about it, and he showed up recently at his annual football camp, and I guarantee he has been in touch with people like Pegula and Golisano. It's a very good bet that if there were any chance the team was in danger of leaving, even with his more serious matters, that he would be active. He's doing very well all things considered.

 

And we're all grateful for that.

[Kirby Jackson]

Just a random side note Pegula would be one of the top 5 wealthiest owners. Depending on what number you believe he could be as high as 2 behind only Paul Allen. There are rumors that his reported $3.3B could be only about half of his real net worth because of the growing value of his land interests. I have heard as high as $6.9B but who knows. Even at $3.3B he trails Allen ($15B), Kroenke ($5B), Glazer ($4.4B) and Ross ($4.4B).

[Kelly the Dog]

Just a random side note Pegula would be one of the top 5 wealthiest owners. Depending on what number you believe he could be as high as 2 behind only Paul Allen. There are rumors that his reported $3.3B could be only about half of his real net worth because of the growing value of his land interests. I have heard as high as $6.9B but who knows. Even at $3.3B he trails Allen ($15B), Kroenke ($5B), Glazer ($4.4B) and Ross ($4.4B).

With all the talk of Jerry Jones and Bob Kraft having boners for Bon Jovi, I would imagine that Pegula is liked and wanted far more as an owner than JBJ and the Toronto group. He's perfect for that little exclusive group. Has boatloads of money and likes to spend it. Does great work for the city he is in and gets great press (for the most part). Can write checks for cash. He's a far better owner for the NFL than Jon Bon Turncoat.

[Kirby Jackson]

With all the talk of Jerry Jones and Bob Kraft having boners for Bon Jovi, I would imagine that Pegula is liked and wanted far more as an owner than JBJ and the Toronto group. He's perfect for that little exclusive group. Has boatloads of money and likes to spend it. Does great work for the city he is in and gets great press (for the most part). Can write checks for cash. He's a far better owner for the NFL than Jon Bon Turncoat.

Yep, the other owners would love to have Pegula in their group for all of the reasons that you just mentioned. In addition, this sale price is going to elevate the franchise values of all of these other teams. It will be the most expensive sale in NFL history for a team in Buffalo!! What do you think that does for Kraft?

[A Dog Named Kelso]

Just thought of something and maybe its nothing but even if the JBJ group won the bid, they would still have to pay the $400M to move the team. Or if they waited for the buyout, they would still have to pay a relocation fee and anywhere between $800M-$1.5B for a new statium.

 

They wouldnt be able to afford all of that would they if they got the team for say $1.5B?

 

CBF

 

They can incur debt for things other than the initial debt of buying the team. They just can't do it for the financing of the team. And the percentages of that do not have to measure out as the ownership does.

 

I believe it is unlikely but we should not confuse the requirements for buying the team with that of other things a group(or person) would want to finance.

[Chandler#81]

 

 

LOL

 

I see no reason to have closed the old one. We all simply check new content in it anyway.

 

And you're right RIP Ralph.

 

And now, again,

 

VIVA EL PEGUAL

 

The old one is still open. Long, multiple threads slow up the server trying to load.

[Kelly the Dog]

Yep, the other owners would love to have Pegula in their group for all of the reasons that you just mentioned. In addition, this sale price is going to elevate the franchise values of all of these other teams. It will be the most expensive sale in NFL history for a team in Buffalo!! What do you think that does for Kraft?

The Cleveland sale to the Lerner family a bunch of years ago made each NFL franchise worth a couple hundred mil more overnight. Just like this will. I don't know the true economics of how these things work, but I would imagine, as far as valuation and sale prices go, a team in Buffalo worth 1.3b is worth more to the NFL owners individual pockets than a team worth 1.5b in Toronto.

[Mike in Horseheads]

Haslam paid 1 billion in total. He paid 700 million for controlling interest in 2012, with Lerner retaining a 30% stake and will (or has the option to) pay another 300 million at a later date to buy him out completely once 4 years has passed from the time of sale.

Must be he paid the rest with the money he skimmed from Pilot.

 

Kelly obviously knew the Bills were no virtually no danger of leaving since he has been relatively quiet throughout this whole process...

Plus he's been kinda busy with something else. (Prayers for Jim)

[Kirby Jackson]

The Cleveland sale to the Lerner family a bunch of years ago made each NFL franchise worth a couple hundred mil more overnight. Just like this will. I don't know the true economics of how these things work, but I would imagine, as far as valuation and sale prices go, a team in Buffalo worth 1.3b is worth more to the NFL owners individual pockets than a team worth 1.5b in Toronto.

That didn't really cross my mind Kelly but it is a really interesting thought!! With all the talk about the Clippers ridiculous sale number the Milwaukee number of $550M (or whatever it was) is equally impressive!! A bunch of NBA teams sold in the last 5 years in the $280M-$350M range. Now the team that was the lowest valued by Forbes sells for $200M more than that!! it does wonders for the rest. I think to your point the Bills selling for $1.3B would mean more than someone like the Pats (or any large market team) at $1.5B. Good stuff Kelly!! Edited July 30, 2014 by Kirby Jackson

[Braedenstearns]

So is this good news that peluga bid the most? Isn't he the one we want to win?

[BillnutinHouston]

Serious question - do any of you really believe in the accuracy of the "leaked" numbers?

 

Very few people have access to that info, and I don't see whose agenda is served by leaks coming from those that do have that info. I'd expect the sale price to approach a record level, so with that being the case I don't see Mary Wilson playing the leaking game.

[CodeMonkey]

Serious question - do any of you really believe in the accuracy of the "leaked" numbers?

 

Very few people have access to that info, and I don't see whose agenda is served by leaks coming from those that do have that info. I'd expect the sale price to approach a record level, so with that being the case I don't see Mary Wilson playing the leaking game.

I not much of a gambler, but I would bet than none of the leaked numbers are real. No one in their right mind would go against the NDA like that.

 

But, people will tend to believe them so long as they like what they are hearing. So Pegula was top bidder, believe. JBJ top bidder, number is obviously fake

[uncle flap]

Serious question - do any of you really believe in the accuracy of the "leaked" numbers?

 

Very few people have access to that info, and I don't see whose agenda is served by leaks coming from those that do have that info. I'd expect the sale price to approach a record level, so with that being the case I don't see Mary Wilson playing the leaking game.

 

I would think the leaks are equivalent to things overheard on the elevator at Morgan Stanley. The trust or the bidders don't have much to gain by leaking figures, although Trump might, just to keep his name in the news (especially when associated with a billion+ sale).

[Kirby Jackson]

Serious question - do any of you really believe in the accuracy of the "leaked" numbers?

 

Very few people have access to that info, and I don't see whose agenda is served by leaks coming from those that do have that info. I'd expect the sale price to approach a record level, so with that being the case I don't see Mary Wilson playing the leaking game.

I believe that the Pegula number is over $1B. He was trying to send a message that he was "in." Maybe his people leaked the $1.3B number to try to scare off the other groups? The fact remains that if he is "in" and wants this team it will be his. He is the perfect fit for all parties (league, trust, fans, state, etc...). Whether or not the exact numbers that have come out are accurate it really doesn't matter. All that we needed to see was that Pegula was going hard after this team and it is game over. Edited July 30, 2014 by Kirby Jackson

[l< j]

Haslam paid 1 billion in total. He paid 700 million for controlling interest in 2012, with Lerner retaining a 30% stake and will (or has the option to) pay another 300 million at a later date to buy him out completely once 4 years has passed from the time of sale.

 

Off topic (sorry), but isn't that like a no-interest loan of $300MM to Haslam? Why would Lerner do that?

 

kj

[Kelly the Dog]

Serious question - do any of you really believe in the accuracy of the "leaked" numbers?

 

Very few people have access to that info, and I don't see whose agenda is served by leaks coming from those that do have that info. I'd expect the sale price to approach a record level, so with that being the case I don't see Mary Wilson playing the leaking game.

I have been following this extremely close on a daily basis and I have yet to see anything from what I would consider to be a pretty reputable source that has shown to be off. There have been a lot of reporters, including several from the (allegedly horrible by some here) BuffNews, that have been all over this story. Things that appeared to have been leaks have all been possibly if not likely true, and there has been little to nothing that has refuted it. As of right now, I would tend to believe those leaks to be pretty accurate.

[CodeMonkey]

I believe that the Pegula number is over $1B. He was trying to send a message that he was "in." Maybe his people leaked the $1.3B number to try to scare off the other groups? The fact remains that if he is "in" and wants this team it will be his. He is the perfect fit for all parties (league, trust, fans, state, etc...). Whether or not the exact numbers that have come out are accurate it really doesn't matter. All that we needed to see was that Pegula was going hard after this team and it is game over.

All successful billionaire businessmen are either in or out, they never half-ass it (Trump as a notable exception). So it's pretty obvious that Pegula wants the team. Others do as well.

[chris heff]

I believe that the Pegula number is over $1B. He was trying to send a message that he was "in." Maybe his people leaked the $1.3B number to try to scare off the other groups? The fact remains that if he is "in" and wants this team it will be his. He is the perfect fit for all parties (league, trust, fans, state, etc...). Whether or not the exact numbers that have come out are accurate it really doesn't matter. All that we needed to see was that Pegula was going hard after this team and it is game over.

Agree, makes everybody happy. Isn't $1.3B getting a little rich for JBJ as majority owner?