The Buffalo Bills officially put the organization up for sale
Posted by Andrew Robinson, Sports Producer - email
The Buffalo Bills have officially put the organization up for sale.
CLEVELAND, OH (WOIO) -
The Buffalo Bills have officially put the organization up for sale. According to John Kryk of QMI Agency, the team sent out a non disclosure agreement to potential buyers on Wednesday and some sale documents. The documents went to all those who had expressed any interest in making an offer on the team.
The Bills announced on May 21 that the team had retained Morgan Stanley as financial advisor, and Proskauer Rose as legal counsel to aid the sales process of the team.
Some of the bidders included former Sabres owner Tom Golisano, former New Jersey Generals owner Donald Trump, and current Sabres owner Terry Pegula. Also among them were Jon Bon Jovi and Larry Tanenbaum of the Maple Leaf Sports and Entertainment.
"Donald Trump continues to remain interested in exploring the opportunity to acquire the Buffalo Bills," executive vice-president and special counsel to Trump Michael Cohen told Kryk."Financially he is more than capable of buying the team on his own," Cohen said. "Whether he does, or elects to syndicate, is something he will decide at a later date."
The sale will then require approval by the league and votes from 24 owners will be required to get the job deal.
If the deal is based on the highest offer, there's a chance a buyer who intends to move the team will be in position to present the best offer, since the value would increase significantly if it were moved to a different market such as Los Angeles.