Buffalo Bills take next step in sales process, reach out to bidders
By Dan Zinski
Things are moving forward rapidly for the Buffalo Bills as they seek new ownership in the wake of Ralph Wilson’s passing. The Bills’ so-called transaction team has reached out to individuals who may potentially be interested in purchasing the franchise, reports WKBW.com.
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A source told WKBW that potential buyers received a non-disclosure agreement on Wednesday along with a “teaser sale document.” Parties who sign the non-disclosure documents will receive further financial details from the Bills.
The Bills’ transaction team is made up of financial advisor Morgan Stanley and legal counsel Proskauer Rose.
Among those rumored to be interested in purchasing the Bills are real estate/media mogul Donald Trump, current Buffalo Sabres owner Terry Pegula and his wife Kim, former Sabres owner Tom Golisano and rock star Jon Bon Jovi.
One expert told WKBW that he believes the Bills could be sold for north of a billion dollars. The process of selling the Bills began in earnest in March with the passing of long-time owner Ralph Wilson.
With the sale comes the possibility of the Bills franchise being moved out of Buffalo, where it has resided since 1960. London, Toronto and Los Angeles have all been mentioned as potential relocation targets.
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