A person familiar with the Buffalo Bills' sale process has told The Associated Press a law firm representing late owner Ralph Wilson's estate has started contacting prospective ownership groups. WBFO'S Mike Desmond talked with Smith College sports economist Andrew Zimbalist.
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The person said Thursday that prospective owners began receiving a seven-page non-disclosure agreement, and a brief outline of background material on the Bills franchise. The documents were distributed by Proskauer Rose, the legal firm overseeing the sale.
The person spoke on the condition of anonymity because the sale process has not been made public.
The next step is for prospective owners to sign the non-disclosure agreement, the person said. That would then provide groups full access to the Bills' financial data in order to begin formulating bids.
A spokesman for billionaire Donald Trump confirmed he has received the packet and that he remains interested in bidding on the Bills.
NHL Buffalo Sabres owner Terry Pegula has also received the documentation, according to the AP.
Pegula's entry marks the first clear signal of his interest in getting involved in buying the NFL franchise, which is going on the market after Wilson died in March.
A full list of candidates is unknown.
Former Sabres owner Tom Golisano has expressed interest in buying the Bills. Another prospective group could include Toronto-based businessmen Larry Tanenbaum, chairman of Maple Leaf Sports and Entertainment, and Edward Rogers, deputy chairman of Rogers Communications.
WBFO News calls to the Bills, brokerage firm Morgan Stanley and Manhattan law firm Proskauer Rose produced no comments or no confirmation. With the trustees of owner Ralph Wilson's estate sending the information out now, it comes right after the Clippers' sale.
Smith College sports economist Andrew Zimbalist said what Microsoft boss Steve Balmer will pay for the basketball team has nothing to do with the sale price of the Bills.
"There's always a big emotional component to it. So, to the extent that there are interested suitors for the Bills who are extraordinarily wealthy and perhaps half as wealthy as Steve Balmer, maybe this would raise their level of testosterone a little bit and make them bid a little bit more," said Zimbalist.
Zimbalist said possible prices vary wildly, saying a purchaser who can move the team to a much larger market might be willing to pay up to a billion-and-a-half dollars while keeping the team here might cut the price to eight-hundred to nine-hundred million dollars. The team is locked into its current lease for now, although that lease could be bought out for hundreds of millions of dollars more.
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