Buffalo (WKBW) The Buffalo Bills transaction team has begun reaching out to potential bidders in what is considered the next big step in the sale of the franchise.
A source with knowledge of the process tells Eyewitness Sports director Jeff Russo that parties that have shown interest in pursuing the team received a non-disclosure agreement on Wednesday. Those interested in moving forward with the sales process will finalize that agreement before receiving further financial details on the franchise in the sales book. "The process now begins" said the source.
John Kryk of Sun Media was first with the report on Thursday. Kryk adds that a "teaser sale document" accompanied the non-disclosure agreement.
The Bills announced on May 21st that the team had retained Morgan Stanley as financial advisor, and Proskauer Rose as legal counsel to aid the sales process. The information provided to prospective buyers on Wednesday came from this "transaction team" and fell within the 30 day window the Bills expected.
Mulitple sources told Eyewitness Sports last week that current Sabres
owner Terry Pegula and his wife Kim were interested in making a potential bid on the Bills. One source added that if the Pegula's move forward that the family is expected to be "aggressive and determined" in pursuit of the franchise.
Former Sabres owner Tom Golisano and real estate mogul Donald Trump have both publicly stated interest in seeking potential bids on the Bills. Sun Media has reported that Jon Bon Jovi and Larry Tanenbaum of Maple Leaf Sports and Entertainment are also interested
Marc Ganis, respected sports consultant and president of SportsCorp in Chicago told Eyewitness Sports that he believes the Bills will be sold for "north of a billion dollars".