BUFFALO, N.Y. (WIVB)– The sale process of the Buffalo Bills is well underway. On Thursday News 4 confirmed that potential owners received access to an online database that contains detailed information on the Bills finances. In addition, prospective buyers also received a non-binding “indication of interest” document that must be returned to Morgan Stanley, the bank handling the sale. Leigh Steinberg, often known for being the inspiration for the character Jerry McGuire, was a long-time friend of Ralph Wilson and is a well-connected sports agent in the NFL community. In his opinion, the Bills will likely be sold for more than they are currently worth.
“Every franchise that is being sold today is being sold for a multiple or a premium that revenue doesn’t justify,” Steinberg explained to News 4 Sports Lauren Brill. “There are so few teams available in pro sports, especially football, which by two to one is the most popular sport (in the U.S.) that there always is a premium, especially if there is competition.”
As fans watch this sale process unfold, players are also waiting for their new leader to be named. The Buffalo Sabres owner, Terry Pegula, is among the list candidates to buy the Buffalo Bills. Steinberg explained that Pegula would be an owner that would likely appeal to players.
“First of all, it demonstrates a commitment (to Buffalo). Second of all, it is someone with experience owning a professional team. Players like stability and they want to know that they have an owner committed to winning,” explained Steinberg. “The reality is a deep pockets owner, who already is running a franchise in Buffalo is someone that clients would be really excited about.”
While Morgan Stanely may want the prospective buyers to show them the money, most fans of the team just want the new owner to show the Buffalo Bills in Western New York.