Jul 31, 2014|
Automatically Generated Transcript (may not be 100% accurate)
Right Cunningham is our guests on the WB and like -- in -- state -- trust expert and we're talking about the bills -- right good morning thanks for the time. Program morning in a lot of news was coming in yesterday. In the hours after the bidding deadline for the bills we heard three bids we also heard that Terry the -- the sabres owner bid one point three billion. You know there's we were talking about how. There are really not a lot of rules with this or you know it's more about the lack of rules and how you know anything can happen here. Bush should we expect from here on out. It's still going to be really hard to say at this point I mean a person with a -- How many people actually got the initial book. Depending more and depending on how that they want the process to get in -- what will happen is there's three bidders. If we're -- -- be what it whichever it is to its most favorable. Com. Will be the one day -- day except him. Yeah well -- grapple truck which wrapped and then from there it just becomes simply a period. They're gonna wanna carry kicked the tires and see what they -- in terms. You know the book that probably was JPMorgan where applicable -- before. The Buffalo Bills arm for the initial peace. But that is available but the people who are going to be you don't go to winning bidder or to better pursue war. Still in contention are gonna war she's probably some some sort non disclosure agreement. Iranians from there -- what what happened is. -- they give us a little bit more. And to move to the process sort of -- forward. Okay and you mr. Cunningham you sure that the bill Straus would accept the best bid does that necessarily mean. The bid that includes the highest amount among offered. It depends I mean in united. It does so before and we that was before -- If if there is say if the truck does -- preference and -- local bar error in the turkeys would accept I have been put. It's most likely -- and in all likelihood that it's going to be the bit that stuck whatever the biggest number. I mean there's generally. Easily overcome the biggest number war. The biggest number that readily available. In terms of cash in error in terms of liquidity. Works. I -- one point two billion are -- one point two billion. Part of our future. I don't have to deal with the bank. Someone else this perhaps slightly higher. But they're gonna have to get to some fairly extensive farm answering. Maybe -- take to deal we're talking airs at all Melamine to simply it's you have to look at the nuts and bolts would deals you know how viable is that. If you know we will. Have held liable as a for a -- to raise it with the money that they need to -- to -- them as opposed the person or -- the money. Why are you surprised. And what we've learned since the -- enclosed. What that there are -- bitter yeah so narrow. I was learning that was that it into the data -- going to be a lot of mean -- into the day it's going to be. You know eventually got the wherewithal to do this huge. In didn't do was hang in there to be hang in there also this -- -- -- and I'm sure in my adult trumpet the best of intentions and he made a little bit more expert. It. Can make a lot of ways about lots of things that I don't know that necessarily he's one of the three people to bed. You know return to -- most people figured he would make a bid is awoke her experiences sabres. If he has an interest to man up. And then you know. Don't let the other folks are presume you know Bon Jovi has agreed to seems to be interest rather -- there's a couple other people -- Potentially ever -- and those with one going to be. This -- we're going to be the winning bid and who knows you know. How -- also take for them to super hero which one is the winning Bill Russell you know we. Heard about the rumor is that mr. Wilson himself has left some special instructions. For the bills trust to consider. They have to weigh on the I have two little thing. They're the -- apparently left them. If you -- special instructions if you build them sort of into the document to Wear their dignity comes down -- The legal term Ford is. -- important language courses more substantive or operationally which were perfectly language means is. It is the desire of the green toward that would be there Ralph Wilson that this in this in this happen. As opposed to the trustee shall do this in this -- depends on how the thing was structured. But it's something that the trustees would certainly consider -- mean -- a lot of people we've been where experiment where all the tar and or other state I mean it's something that simply is. In the pits of hell and and want to get a sort of get back to the fact that we've never seen that start and we're never gonna see this document. It's just simply. You know those documents say you know and and to the special instructions say. You know it is my desire that the Buffalo Bills should stay in buffalo in this -- and -- thing or should do or it was a written into the argument that. You know in local bitter gives preference in the process I don't know what -- that's that's sort of -- -- -- the mysteries of the fact -- whenever -- see what distrust has probably. Okay table right thanks for helping us understand this a little bit better. You're from that's right Cunningham in a state law trust expert on the WB and life line.