John Wawrow of the Associated Press reports that billionaire Donald Trump has been selected to advanced to the next round of the bidding process for the Buffalo Bills.
Morgan Stanley, the banking firm overseeing the sale of the Bills’ franchise, informed Trump of their decision.
Wawrow adds that it’s unclear who else has advanced along with Trump, but Sabres owners Terry and Kim Pegula reported made a bid on the team as well.
Jon Bon Jovi’s Toronto based group is expected to submit a bid for the team, but reporters earlier in the day suggested that the final bid could end up being out of their reach.
Formal bids are expected to be made after the final bidders are given an opportunity to look over the franchise’s financial information and meet with team president Russ Brandon.
Tim Graham of the Buffalo News, citing two sources that are “deeply plugged into the Bills sale process,” reports that the bid figures for the franchise being circulated are all inaccurate.
Graham’s sources mentioned that the reported $1.2 billion bid from the Toronto group, which includes Jon Bon Jovi, is “quite higher than reality.”
Graham points out that Tuesday’s bids are non-binding, which means the best offers will come later in the process.
Meanwhile, John Kryk of the Toronto Sun reports that the Toronto based group didn’t match the first bid from Buffalo Sabres owner Terry Pegula.
According to Kryk’s sources, the Toronto group cannot bid as much as the $1.3 billion, and their maximum could end up being close to $1.2 billion. His sources added that the Toronto group’s bid was more likely to be closer to the “$800-million to $900-million range.”