Jul 29, 2014|
Automatically Generated Transcript (may not be 100% accurate)
We opened up the WBM -- -- welcome our next guest is Toronto sun columnist John correctly is sort of our go to guy lately. When it comes to the process of -- and the Buffalo Bills John good morning thank you for being with us. Good morning we've been on women telling our listeners John two as these proposals come him later on today at 5 PM deadline yes. From all these prospective Buffalo Bills buyers -- the proposals deemed to not acceptable will slowly be weeded out. I guess I'd like to ask first what makes a proposal. What will maker proposal not acceptable. Well I suppose it's going to be pretty much. Financial outlook what's the -- -- Certainly if they didn't have the financial where windfall to even come close to -- they probably would never even if you received. Something in the mail last. Month. -- inviting them to submit a nondisclosure agreement so. Presumably that base they would have that type of that financing to be able to get this far. But you know it's it's there's so much conflicting information flying around out there. How many people are actually going to submit a bid by today. That's what's interesting as the number it and we only get an indication of that by the number of nondisclosure agreements that were returned. I've heard. Reliably got it somewhere between one and two dozen. Which could mean which would necessarily cap the number of people who could submit today by. By two dozen but I pull -- it's considerably less than that. And it could be it could just be a handful of groups even the ones that we've just been topical for the last 34 months. They can be no more than that they could be a couple of mystery bidders. And that's what's going to be interesting and of course the frustrating thing for all of that is the trusted and no obligation and no expectation actually tell you let us know who actually. -- today at 5 o'clock. OK so. It comes right down to money of the bid does not acceptable because of money is rejected what else might make a proposal not acceptable. Well I suppose there could be any number of saying this and felt perform properly but I think well battle goes through so I think. If it is up to the trust that they have not disclosed what criteria. They have listed if it's anything more in financial we don't know that a lot of people are speculating that. Perhaps the trust is under some obligation. To pick a buffalo. And a -- a group that is intent on keeping it in buffalo. Form. Opposite by that that they would exclude him necessarily disqualify anybody that isn't that's of course speculation went through the roof. When it came out that the tribal group has downed on the 180 that it last month and sort of trying to -- intention -- relocated to traveler now gonna tell. The trust that they're gonna keep it right there in Western New York so. Perhaps that is an indication that that is and other requisite com we just don't know that because that part of the process has not made public. John we've also heard that the bids that have to be in by today. Will not be the final offer the best offer by the buyer but it have to be fairly close right -- -- to be considered serious. Well that's that's the thing with first -- I understand that they're not they're usually. People really low ball well that's the usual things a couple of weeks ago I think a report that it was eight to 900 million. Well at the ballpark that people were expecting. The first in and either non binding for -- two days. That that's that's the ball -- that they would be submitted and then. Trust will select finalists probably by the end of this week because next to the process are. Management presentations of fancy term for. Getting together mean person talking more about the kids and what they wanna do. With the team and more importantly -- more details revealed on each side financials to crumble. Reveal more about its financials as -- doing prospective better. As these bids are whittled that down will we ever learn who they came from. Not necessarily oftentimes I'm told that people never now because there's no. But I guess that this is such this is the product itself so there's there's nothing compelling the trust ever. Or the bidders to ever reveal themselves and oftentimes. That does not happen. And -- I've been told that there have been. Deep pocket billionaires not just for sports franchises that bit on. All kinds of teams and on and other businesses out there that we never even hear about minutes so it the same person that's trying to get these things and and all -- sudden. The name comes up because they've. Purchased the team than -- years later the person would revealing interview that they. Try to get this team that team in the other. -- that we just we probably are gonna hear anything today. And probably the only way we'll hear who the finalists are will be a process of elimination perhaps -- say for sake of argument Donald Trump does not reflective of the finalists. And his people reveal that that would be well maybe the only way that we would know that. The other one ended up becoming a finalist so -- it's interesting how this process go. But from here on out things should really speed up and we could know. -- -- by fall by the owners meetings and in October who that the next bills owner would be. I understand that that's exactly what they would like to have done that that is -- for the next two weeks well these management presentations will take place. I understand that the trust has already told prospective bidders that. That's when these management presentations would take place if those -- become finalists. And then after that bit. Well they wanna negotiate -- they could they could happen very quickly after that I mean conceivably within a week or two they can just say OK maybe this is our guys. And -- negotiate with that person and you know quickly come to an agreement. Or it could be that if it's especially if it's somebody whose name has not been out there in the person is never really investigated by an NFL team. Typically have a understand that that person might. The process might be dragged out of that person asked more and more according adult what does this mean it was -- -- and then. That and drag up the process a bit. But Jason lack of force CBS sports on the weekend wrote that there's and a self finance committee meeting at September 11. And that ideally they'd like to have eight. A presumptive owner. Nate in place by the and so that the finance committee today to discuss that and then it would just be the rubber stamp that the owners meeting. October 68 in Detroit. Okay boy we've learned a lot for me this morning John thank you for joining us. That's John Craig is a columnist with the Toronto sun.