|Earlier this month, before bidding for the team started, Forbes magazine estimated the Buffalo Bills worth, and said revenues this coming year would be close to $290 million.
When the Cleveland Browns sold in 2012, it was for about 3.5 times revenue. Which means the lowest bid -- as in Donald Trump, who has said he wouldn't do anything stupid--- is probably in the neighborhood of $925 million.
Sources tell Business First that the Pegula bid is in the neighborhood of $1.3 billion.
Forbes 's Mike Ozanian-- again before the acutally bidding-- looked at the revenue numbers and the amount that a Toronto group could make in a big media market and predicted that a group from north of the border could " likely pay $1.2 billion"
"What typically will occur is that there will be an evaluation by experts retained by the Wilson estate to look at the bids, go back with any questions associated with them.," says Ganis.
Ganis says the team management will meet one on one with each bidder to go over more detailed financial matters and each bidder will now get access to the team's "data room." This gives prospective buyers access to things like player contracts, stadium leases, and lawsuits.
Ganis says potential dealbreakers remain the same.
"One is price, two is source of funds, three is approvability by the NFL,'" notes Ganis, who adds those factors could contribute to an instant end to the bidding process if one bidder stands out.
READ MORE: COMPLETE COVERAGE The Future of the Buffalo Bills