this May 27, 2014 file photo, Donald Trump speaks at
a National Press Club luncheon in Washington. Trump
says he'll submit a bid to buy the Buffalo Bills but
that it's unlikely his offer will be the winner. The
billionaire businessman told Fox News that's because
he's "not going to do something totally
stupid" to make the team his. Trump spoke on
the eve of Tuesday's, July 29, 2014, deadline for
prospective owners to submit initial bids for the
National Football League franchise.
N.Y. — Donald Trump remains in the running to buy
the Buffalo Bills.
are NHL Buffalo Sabres owners Terry and Kim Pegula, a
person close to the process confirmed Thursday night to
The Associated Press while speaking on the condition of
anonymity because the sale is supposed to be private.
Cohen, Trump's executive vice president and special
counsel, confirmed in an email to the AP that his boss was
chosen to advance to the next round of bidding. Cohen said
he was informed of the decision by Morgan Stanley, the
banking firm overseeing the sale of the team for late
owner Ralph Wilson's estate.
Trump's significant wealth, name recognition and real
estate knowledge makes him a viable option," Cohen
bidding on his own after electing against being joined by
partners. He is prepared to make an all-cash offer.
proving to be serious in his efforts to buy the Bills, who
are on the market after Wilson died in March. Trump was
previously dismissed by critics as using the Bills' sale
as a publicity stunt.
Pegulas have been low-key throughout the sale process in
regards to their interests in purchasing the Bills.
most recently were valued by Forbes at $870 million but
are expected to sell for at least $1 billion, partly
because NFL teams rarely go on the market.
Stanley's selection of Trump and the Pegulas comes after
prospective groups were asked to submit non-binding bids
group that includes rocker Jon Bon Jovi was expected to
submit a bid. It's not known if that group has been
selected to advance.
deadline Tuesday was regarded as a soft one, meaning other
interested parties can still submit bids until a
prospective owner is identified. The time, however, is
growing shorter for outside groups to become involved.
step is for groups who have been approved to advance is to
meet with both Morgan Stanley and members of the estate to
obtain the franchise's financial information. Bills
President Russ Brandon also is expected to make a
presentation to prospective bidders.
is done in the coming weeks, groups will then be asked to
submit formal bids. The bidding process is unsealed,
meaning Wilson's estate will have the ability to ask
groups to increase their bids.
timetable has been established by Morgan Stanley, a
prospective owner is could be identified by as early as
Labor Day and presented to NFL owners for approval during
league meetings in early October.