Morgan Stanley, Proskauer Rose will handle sale of Bills; prospective owners to be contacted in 30 days
The Buffalo Bills have selected the financial and legal firms to handle the team's sale. Morgan Stanley has the bankers. Proskauer Rose has the lawyers.
"This is a big step," Bills President and CEO Russ Brandon said. "Now everything's in place."
Morgan Stanley and Proskauer Rose will conduct an audit of the team and assemble a data book for prospective buyers to review. The Bills announced in a news release their advisers will begin contacting prospective buyers within the next 30 days.
The firms will vet candidates and present a recommendation for the trust that has been overseeing the Bills since founder Ralph Wilson's death in March.
"We'll step aside and let them do their thing," Brandon said.
Proskauer Rose has been involved with sales of Philadelphia Eagles, New York Jets, Florida Marlins and Washington Nationals. The firm also has been involved in big-league collective bargaining. The ATP Tour and Major League Soccer have been clients in defending lawsuits.