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Paring Down Bids for the Bills

Buffalo, NY (WBEN) As many as 60 potential bidders for the Buffalo Bills have received preliminary financial information on the team, but only a handful will likely put in a bid for the team, and those who will have already done their homework.

"They know what their bid is going to be, they've met with the Bills, they've met with the NFL. They have investment bankers to oversee the bidding process," says John Wawrow of the Associated Press. "The meetings with Morgan Stanley will be important as far as flushing out more financial information, but the major players have had their plans in place for some time."

Wawrow tells WGR SportsRadio 550 the Wilson estate wants to get the sale done sooner rather than later.

But there is still the possibility of delay in approval by NFL owners.

 "We're still in the first inning," says Jim Fink of the Business First ot Buffalo weekly business journal.

Fink says the estate is not beholden to any time frame to execute the sale. "I know several prospective bidders have received the bid package, but the return dates are variable," explains Fink.

Fink says once the bids come in, expect the estate to pore over them carefully. "This is a billion dollar transaction, so there's a lot of due diligence and negotiations back and forth," notes Fink.

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Topics : Business_Finance
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Locations : Buffalo
People : Jim FinkJohn Wawrow