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AP sources: Trump first up in meeting with Bills


By JOHN WAWROW

BUFFALO, N.Y. (AP) - The sale of the Buffalo Bills entered the next phase with prospective ownership groups, including Donald Trump, meeting with team officials to prepare formal bids.

Two people familiar with the sale process confirmed to The Associated Press on Thursday that the New York real estate mogul was the first to receive a presentation. Trump's meeting was held in the Detroit-area on Wednesday. Buffalo Sabres owners Terry and Kim Pegula and a Toronto group fronted by rocker Jon Bon Jovi also have scheduled meetings.

The people spoke on the condition of anonymity because the sale process is private. The Bills are on the market after Hall of Fame owner Ralph Wilson died in March.

The Buffalo News first reported the development on its website.

During the meetings, prospective buyers receive extensive financial and background information on the franchise. Bids are expected to be submitted within three weeks.

A prospective owner is expected to be identified by the end of next month, and then presented to NFL owners for approval at league meetings in New York in early October.

Bills president Russ Brandon is involved in making the presentations on behalf of Morgan Stanley, the banking firm hired by Wilson's estate to oversee the sale.

Hall of Fame quarterback Jim Kelly and his brother Dan Kelly, who runs the family's business interests, are also involved in the meetings. Though the Kellys have expressed interest in purchasing the team, it's unclear if they have submitted a bid.

The Pegulas and Trump are considered the front-runners. Both have the assets to complete what is expected to be a $1 billion-plus purchase, and they also have expressed a commitment to keep the Bills in western New York.

Terry Pegula was last valued by Forbes to have a net worth of $3.3 billion. That was before Pegula closed a $1.75 billion deal on Tuesday to sell about 75,000 acres of drilling rights to American Energy Partners.

Trump was last valued with a net worth of $3.9 billion. That does not include his holdings in numerous properties, including several high-profile golf resorts he recently purchased.

The Bon Jovi-fronted group is made up of Toronto-based partners, Larry Tanenbaum, chairman of Maple Leaf Sports and Entertainment, and the Rogers family, which controls Rogers Communications.

However, it's unclear whether Bon Jovi has the liquid assets to buy the Bills if the sale price goes above $1.2 billion. Under NFL rules, a principal owner must have enough cash and use no more than $200 million in debt-financing to hold a minimum 30 percent ownership stake.

Forbes most recently valued Bon Jovi's net worth at $290 million.

Bon Jovi also faces questions about his long-term intentions to keep the team in the Buffalo area, which is a prerequisite in the sale process.

Last weekend, Bon Jovi had a letter published in The Buffalo News stating that his objective was "to carry on the legacy of Ralph Wilson and make the Bills successful in Buffalo."

He didn't state in the seven-paragraph letter that he was committed to keeping the franchise in Buffalo. The letter was received with some skepticism in Buffalo and among Bills fans.

The commitment Bon Jovi provided was working with state and local officials to identify a site for a potential new stadium.

Under the current lease, reached in December 2012, the Bills would incur a $400 million penalty for broaching the prospect of moving during the 10-year agreement. There is a one-time exception that would allow the Bills to break the agreement for just under $28.4 million in 2020.

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cooltool50 August 07 2014 at 8:24 PM

I could here it now, you didn't win YOUR FIRED. Trumps nothing but a comb-over POS.

Flag Reply +4 rate up
ibdoowop August 08 2014 at 2:52 AM

Trump has no interest or enough money to buy the Bills. He's only making nose so he gets air time. He's an attention ***** with an ego the size of Nebraska.

What a pig.

Flag Reply +3 rate up
rick August 08 2014 at 12:32 AM

He'll be issuing bonds to cover the cost and then when raising ticket prices aren't enough to cover cost threaten to move the team and when that doesn't work have the franchise declare bankruptcy.

Flag Reply +3 rate up
cavkchas August 07 2014 at 9:23 PM

The Buffalo Bills are truly desperate for an owner to even consider Donald Trump.

Flag Reply +3 rate up
John August 07 2014 at 9:29 PM

Ah, soon to be the Trump Bills. Has a nice ring to it, no? How tall will the letters in his name be on the jerseys, stadium, etc.? Good luck Buffalo, he'll end up trashing you like he's done with NYC and Atlantic City.

Flag Reply +3 rate up
1 reply
Go Lady Eagles John August 08 2014 at 8:47 AM

NYC has looked trashy for over 100 years so it can't be Trumps fault.

Flag Reply 0 rate up
royjoneswolf62 August 07 2014 at 10:36 PM

He doesn't want to be outdone by Jerry Jones. Two know-nothings trying to be relevent in todays world. But they really can't. It's a toss up as to who's the biggest fool.

Flag Reply +2 rate up
1 reply
bba007 royjoneswolf62 August 08 2014 at 11:59 AM

You beat me to the punch!!! But I blogged anyway.

Flag Reply 0 rate up
robaby424 August 08 2014 at 11:08 AM

They are not serious! I would boycott anything that has to do with that moron.

Flag Reply +1 rate up
toddisit August 08 2014 at 12:06 AM

Sell them, move them, don't care. Whole team stinks to high heaven.

Flag Reply +1 rate up
Sean Daniels August 08 2014 at 12:45 PM

IF YOU IDIOTS SELL TO TRUMP OVER BON JOVI =THAT WOULD SOLIDIFY NY AS THE STUPIDEST STATS IN AMERICA-YES DUMBER THAN TEXAS !!!!!

Flag Reply 0 rate up
Thomas August 08 2014 at 11:11 AM

With Trump the Bills would be the AFC's version of the Jerry Jones Cowboys.

Flag Reply 0 rate up
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