Buffalo, NY (WBEN) Jon Bon Jovi and Terry Pegula are slated to have meetings with the groups overseeing the sale of the Buffalo Bills. What will the two sides talk about?
Dan Kaplan of Sports Business Journal says it's a management presentation. "The investment bank and the lawyers get to ask questions of the bidder, more detailed financial information is presented," explains Kaplan. It's also where key concerns are addressed. "If there's concerns about the Bon Jovi group's dedications to Buffalo or their thoughts about the need for a new stadium, that will come up."
The stadium issue is the wild card says Kaplan. "You don't know where a new stadium might be, or if you will even have a new stadium, that makes financing a bit challenging," he notes. Another challenge: how much, if any, state funding.
Kaplan says it's likely the final round here, "unless there's more information Morgan Stanley wants from a different group, or are unhappy with the groups and try to solicit more bids," says Kaplan. He projects a winner will be chosen in the next three to four weeks.