Jul 8, 2014|
Automatically Generated Transcript (may not be 100% accurate)
We are talking about the Buffalo Bills again on this morning let's welcome our next guest on the live line is John correct. John is the NFL. Columnist for the Toronto sun. And he's been on top of the many stories of real big enough following regarding the Buffalo Bills and who might eventually on the team. John good morning and thank you -- taking the time to be with us. John Albert county executive here mark Poland cars told us during a recent interview that names of billionaires. That haven't even been mentioned yet are likely to be among the people in the running to by the team and I guess. Now we're hearing that again. Yeah yeah that's not unexpected -- that this might happen. Because the the investment bank which kind of conduct the sale of a law firm from for the -- Their job was to try to find as many bidders they can go wide or greater demand goes up demand -- -- likely likely goes up and of course took their -- buildup of the at all. And so that's what they try to do they even try to find people who maybe even you know latest available up to. Our cash flush billionaires and never thought about building and then it felt -- so -- -- return on these people and so I would like to own medical -- here's what's involved and explained to them in the process. So I was told. By you -- market that's -- -- It's in the Chicago based sports corps limited in the long time expert questionable pro sports -- welcome. We've been on a lot of we -- here as well. And didn't -- twelve media days. A number of charge billionaires in the mix it's far brighter greens people have identified. But we're not likely you're under article ready Lamar most of them wouldn't do it because the people prefer not to be identified publicly and because of the non disclosure agreement should a lot this information now on probably doesn't -- to get out of involved and what financially I think. -- what is happening now with these interested buyers and what is significant about July 29. Well adamantly near voter security first reported those are scared of the other day. Give the prospective bidders -- until July 29 to indicate to Morgan Stanley what do you indicate what aggregate. Intend to submit what's called an indicative -- I've been told. And reported yesterday that. It's a two step process seeing are you let them know first call what you wanna do it. By the end of this month basically and then they'll be asking all these indicative of the -- was basically your first round of bidding. Then the Morgan Stanley -- -- was select finalists a little over many of those are going to be. And -- -- they'll be asked to just made the second building from that achieved what selected but as a guest pointed out what I didn't know I don't think anybody knew. That's because that's not a public. Fail then didn't they know SEC rules. Or received any of -- At any point in the process -- service. Both could just. -- process but they decided that all the bids that are receiving art anywhere near what they want particulate. They came up to market not sell or if they decide to date pre -- that -- don't want to go to guy because you are for the most money we wanted to but -- him. They can just. The -- -- whole process and then get to that person there was nothing. They have rushed for a well they're out and they are producing. Two old seat and slowly early. And the look it up slowly so much the first look at its potential -- -- -- as you say -- -- given to those guys get it over with let me ask you this we have been told by more than one person. That if the trust gets an offer that they can't refuse. They may have a fiduciary responsibility to accept the offer if an -- offer comes from somebody who wants to move the teams. What do you think. -- -- My -- I'm hearing conflicting things probably like our reporters are about that. One source told me that that would only happen. -- fiduciary responsibility. Yet. The the foundations or charities involved. -- deep cut. However much money of the proceeds from throughout the -- So we of course don't know that. So we would just pure speculation to say one way or the other at this point but I would think that that would not indicate -- The money would probably be going apparently production schedule that was. So called well workers but -- Mr. fiduciary responsibility that they. To -- for the highest price I think that would problem people. Do you think it's possible that this will be wrapped up by October as has been suggested in the Indiana last couple of months. Possible I mean from everything that we just spoke about -- But if you went outside that extra -- -- -- districts -- meeting in Detroit which probably October 6 to eight. So that they have something done that just requires rubber stamping -- -- at that meeting. Then perhaps that would do. Compel them to -- Quickly. But nothing to this point has that I mentioned a minute ago nothing has been done. And I rushed. Manner so for that exchange would just be in -- liked it. Would be because they have a preferred bidder and -- are suspect about it not yet. And Erica wait until you know what -- first traveled since what happened presumably early August it will maybe another round. -- put -- that are out there have been and a -- to that happened over many weeks probably government engagement I'm also told. -- if you have these cash or billionaires who some of -- might not be true moderate your health. Take a lot to explain to them. To educate the global order and the owner doesn't what we're told you about. Adage don't do that or coffee day so -- it's about the process as well these people are involved. OK we're just about out of time job and very quickly. Any clues here do you have in your back pocket the name of one billionaire that we haven't heard of yet. Now -- not -- -- and don't think anybody will be total non disclosure agreement and because these people don't want their names out there comes you know well because report. I don't expect those marine corporal and there are. Would promote. Petition process but the problem is -- hopeless sort of but over many weeks is going to be that because of these nondisclosure agreements from the fact that the bills on the anti intellectual and so I suppose based at point. It's going to be told a purported forward to try to figure out what's going on from here on out but things do come out. John good to talk -- and we thank you again our guest was John correct John as the NFL columnist for the Toronto song.