Bill Wippert/Associated Press
A lot has changed regarding the sale of the Bills since we last discussed it.
It was originally believed that Buffalo Sabres owner Terry Pegula was the favorite to become the next Bills boss and that he was ready to pay well over $1 billion for the team. However, a report by Mike Ozanian of Forbes sheds new light on the sale process.
Ozanian said Donald Trump's initial offer was around $800 million, while Pegula and a group led by Jon Bon Jovi bid "well under $1 billion."
Ozanian went on to say that Morgan Stanley, the bank hired to oversee the sale of the team, has "butchered" the sale and is "now clearly in panic mode." The bank received over 60 non-disclosure agreements from potential suitors, but only three submitted bids by the July 29 deadline, per Ozanian. Because of the lack of generated interest, Morgan Stanley extended the deadline.
In addition, Tim Graham of The Buffalo News reported former Sabres owner Tom Golisano threw his hat in the ring and made an offer for the Bills. Graham also said Jim Kelly "is involved with one of the undisclosed bidders." One potential Kelly partner is Jeffrey Gundlach, who, according to Graham, "approached Kelly about joining forces."
Despite all of the talk about who is or isn't bidding, the sale process is moving along. Graham said the Bills trust has presentations scheduled with bidders over the next few weeks. Graham said Trump was first up, with Terry Pegula and Team Bon Jovi to follow.
There's still a long way to go, but Graham said a new owner could still be approved by the NFL owners at the league's meetings on October 7 and 8.