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Let the bidding begin: Potential buyers have access to Bills' financial books

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The Buffalo Bills sales process has taken a major step.

The Bills' financial advisers, Morgan Stanley, began granting online access to the team's detailed financial information, multiple sources have informed The Buffalo News.

Prospective bidders started receiving online access to the Bills' offering memorandum Wednesday. Part of the memorandum is an "indication of interest" document that must be returned to Morgan Stanley by July 29 to continue pursuit.

Terry Pegula and the man he bought the Buffalo Sabres from, Tom Golisano, each were believed to be among the possible buyers granted permission to review the Bills' numbers. So, too, was a Toronto-based group that includes Maple Leaf Sports and Entertainment boss Larry Tanenbaum and rock star Jon Bon Jovi.

A spokesman for Donald Trump told me the billionaire developer was on the list.

"I can confirm that Mr. Trump received yesterday information contained in the virtual data room provided by Morgan Stanley for application to purchase the Buffalo Bills," said Michael Cohen, executive vice president and legal counsel for the Trump Organization.

A "virtual data room" requires a specialized password for prospective buyers who have signed a non-disclosure agreement. From there, they can examine the Bills' confidential finances (revenues, assets, liabilities, et al) used to determine how much to bid on the team.

The online presentation of an offering memorandum replaces what has been commonly referred to in this space as a "sales book," the same information, but in hard copy.

  • Vidiot

    Trump will not even make an offer. He just wants to be talked about.

    • bufguy

      He'll make a low offer, not get the team and then blame Obama

      • Rain

        Obama will then blame Bush; Bush will blame Cheney. Once Cheney has been identified as the guilty party, everyone will be satisfied.

        • MaoSayTongue

          I blame the Joos.

        • bufguy

          I think Trump is hiding weapons of mass destruction on his head...What else could explain that hair?

      • Dom Pacile

        Obama. Was named worst president since F D R even George beat him no surprise and as far as Trump is concerned if Kelly is part of that it's OK.

        • bufguy

          And in 2010 Us News & World Report ranked Obama as the 15th best president ever....I don't rely on a poll to determine the worth of a president

    • CityDweller

      That is exactly what he is doing. Publicity stunt.

      He never actually buys things outright himself anyway. He puts up a token amount and finances it or gets other people to put in the rest. Then slaps his made-up name on it.

      • CKBflo

        That is how almost all business is done! And, that's what most everyone does when they buy a house. They put a 20% deposit down (maybe less) and have the bank put up the rest of the money. Standard practice...

  • knowtoomuch

    Pagula is already writing his check...

  • Rich

    I didn't get the info yet but have advised my bank that I would be making a modest withdrawal of approximately $800 million...shouldn't be a problem.

  • Otis

    Would love to see the real numbers without the crying of poverty we hear all the time. Someone please leak this info to the world.

  • MaoSayTongue

    It's not encrypted and an easy hack--if anyone wants to see it.

  • PaulR

    Trump and Chuck Schumer are the two biggest media w****s in New York State. Both like to hear themselves talk, and both believe its their right and duty to grace us with their presence on TV as much as possible.

    • Guest

      Along with King Andrew!

  • Guest

    What impact does the head injury lawsuit bear on an NFL teams value.

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About the reporters

Vic Carucci returned to The Buffalo News as a Bills beat reporter in September. Carucci covered the Bills for 17 years before joining NFL.com as a columnist in 1999. Prior to rejoining The News, he spent three years as a senior editor for the Cleveland Browns.

Tim Graham returned to The Buffalo News in 2011 after covering the NFL for three years at ESPN and for one year at the Palm Beach Post. Before that, the Cleveland native spent seven seasons on the Buffalo Sabres beat for The News and was president of the Boxing Writers Association of America.

Jay Skurski joined The News in January 2009. The Lewiston native attended St. Francis High School before graduating from the University of South Florida.