ORCHARD PARK, N.Y. (WIVB) - The Buffalo Bills are initiating the sale process of the franchise. The organization has hired Morgan Stanley to serve as a financial advisor and Proskauer Road as a legal advisor, as the team establishes the sale of the franchise. The Bills say that the transaction team will being contacting prospective buyers within the next 30 days.
Bills President and CEO Russ Brandon said in a prepared statement, “We are pleased to have been able to assemble, as our transaction team, two experienced and talented firms in the specialized field of sports mergers and acquisitions, Morgan Stanley and Proskauer Rose, to be involved in our sale process.”
Fans are speculating over who potential owners of the team could be. Often in the mix are the Jacobs family, Former Sabres owner Tom Galisano, Current Sabres owner Terry Pegula, Donald Trump and a group of investors formed by Jim Kelly.
Throughout this sale process, there have been talks about a new stadium for the Bills. Given the way the lease was written and the apparent desires of the NFL, the future of the Bills’ stadium appears to be a crucial component in terms of the team’s long-term future in Buffalo.
“I believe a stadium is important to the franchise long-term for it to continue to be successful in Western New York,” NFL Commissioner Roger Goodell explained, Tuesday. “But it’s a long-term issue. We have a short-term issue in which they are making improvements to the stadium. Those will be positive things in the short-term. But we all know this lease is 10 years. We have to look well beyond that.”
Fans are speculating over who the next over of the team could be. There are no answers yet, however some fans are making it clear who they don’t want it to be.
A group of Buffalo Bills fans is making it clear they do not want Jon Bon Jovi buying the team. They want to stop Bon Jovi from buying the team and moving it to Toronto. They’ve also started a petition online calling on all Bills fans to sign it.
Buffalo Bills owner Ralph Wilson passed away in March. Ralph Wilson was the founder and only owner of the franchise. His widow Mary Wilson took control of the team after the owner passed away.