Accessibility/Mobile Features
Skip Navigation
Skip to Content
Editorial News
Sports
Classified Sites

The Canadian Press - ONLINE EDITION

Trump selected to advance in Bills' sale process; AP source says Pegulas also chosen

FILE - In this May 27, 2014 file photo, Donald Trump speaks at a National Press Club luncheon in Washington. Trump says he'll submit a bid to buy the Buffalo Bills but that it's unlikely his offer will be the winner. The billionaire businessman told Fox News that's because he's

Enlarge Image

FILE - In this May 27, 2014 file photo, Donald Trump speaks at a National Press Club luncheon in Washington. Trump says he'll submit a bid to buy the Buffalo Bills but that it's unlikely his offer will be the winner. The billionaire businessman told Fox News that's because he's "not going to do something totally stupid" to make the team his. Trump spoke on the eve of Tuesday's, July 29, 2014, deadline for prospective owners to submit initial bids for the National Football League franchise. (AP Photo/Manuel Balce Ceneta, File)

BUFFALO, N.Y. - Donald Trump remains in the running to buy the Buffalo Bills.

And so are NHL Buffalo Sabres owners Terry and Kim Pegula, a person close to the process confirmed Thursday night to The Associated Press while speaking on the condition of anonymity because the sale is supposed to be private.

Michael Cohen, Trump's executive vice-president and special counsel, confirmed in an email to the AP that his boss was chosen to advance to the next round of bidding. Cohen said he was informed of the decision by Morgan Stanley, the banking firm overseeing the sale of the team for late owner Ralph Wilson's estate.

"Mr. Trump's significant wealth, name recognition and real estate knowledge makes him a viable option," Cohen said.

Trump is bidding on his own after electing against being joined by partners. He is prepared to make an all-cash offer.

Trump is proving to be serious in his efforts to buy the Bills, who are on the market after Wilson died in March. Trump was previously dismissed by critics as using the Bills' sale as a publicity stunt.

The Pegulas have been low-key throughout the sale process in regards to their interests in purchasing the Bills.

The Bills most recently were valued by Forbes at $870 million but are expected to sell for at least $1 billion, partly because NFL teams rarely go on the market.

Morgan Stanley's selection of Trump and the Pegulas comes after prospective groups were asked to submit non-binding bids by Tuesday.

A Toronto group that includes rocker Jon Bon Jovi was expected to submit a bid. It's not known if that group has been selected to advance.

The deadline Tuesday was regarded as a soft one, meaning other interested parties can still submit bids until a prospective owner is identified. The time, however, is growing shorter for outside groups to become involved.

The next step is for groups who have been approved to advance is to meet with both Morgan Stanley and members of the estate to obtain the franchise's financial information. Bills President Russ Brandon also is expected to make a presentation to prospective bidders.

Once that is done in the coming weeks, groups will then be asked to submit formal bids. The bidding process is unsealed, meaning Wilson's estate will have the ability to ask groups to increase their bids.

Though no timetable has been established by Morgan Stanley, a prospective owner is could be identified by as early as Labor Day and presented to NFL owners for approval during league meetings in early October.

___

AP NFL website: www.pro32.ap.org and www.twitter.com/AP_NFL

  • Rate this Rate This Star Icon
  • This article has not yet been rated.
  • We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high. If you thought it was well written, do the same. If it doesn’t meet your standards, mark it accordingly.

    You can also register and/or login to the site and join the conversation by leaving a comment.

    Rate it yourself by rolling over the stars and clicking when you reach your desired rating. We want you to tell us what you think of our articles. If the story moves you, compels you to act or tells you something you didn’t know, mark it high.

Sort by: Newest to Oldest | Oldest to Newest | Most Popular 0 Commentscomment icon

You can comment on most stories on brandonsun.com. You can also agree or disagree with other comments. All you need to do is register and/or login and you can join the conversation and give your feedback.

There are no comments at the moment. Be the first to post a comment below.

Post Your Commentcomment icon

Comment
  • You have characters left

The Brandon Sun does not necessarily endorse any of the views posted. Comments are moderated before publication. By submitting your comment, you agree to our Terms and Conditions. New to commenting? Check out our Frequently Asked Questions.

letters

Make text: Larger | Smaller

Brandon Sun Business Directory
The First World War at 100

Social Media