Buffalo, NY (WBEN) The Buffalo Bills are up for bids, officially. Prospective buyers have been given documents about the team.
A representative for Donald Trump tells WBEN's Tom Puckett Trump received the teaser and non-disclosure agreement from Prokauser Rose and Morgan Stanley. The representative says Trump remains interested in acquiring the Bills. Once Trump signs the non-disclosure agreement, he will receive confidential information about more specific finances of both the Bills and the NFL.
This is par for the course says Dan Kaplan of Sports Business Journal. "The NDAs are standard, the teaser is standard, and in a few weeks the fuller financial book will go out," says Kaplan, who notes it's moving at a quick pace. Kaplan says Morgan Stanley will look for more potential owners, and then at some point there will be a deadline for offers.
Kaplan believes the deal will be at least $1 billion. "Financials of the NFL continue to improve, and I would expect the Bills to go for $1.2 billion, maybe $1.3 billion," predicts Kaplan. He says it's possible the NFL owners could approve a new owner by as early as October.
Sun Media's John Kryk first reported those who have expressed an interest in buying the franchise have been given a non-disclosure agreement as well as a teaser summary of Bills financial information. Last month, Morgan Stanley and Prokauer Rose were hired to serve as the transaction team for the Bills.
Others who have stated an interest in buying the Bills are Sabres owner Terry Pegula, former Sabres owner Tom Golisano, and rocker Jon Bon Jovi as part of a Toronto bid group with Larry Tanenbaum.