Report: Donald Trump Advances To Next Round Of Billsโ€™ Sale Process

Update:

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 Billsโ€™ franchise, informed Trump of their decision.

Wawrow adds that itโ€™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 Joviโ€™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 franchiseโ€™s financial information and meet with team president Russ Brandon.

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Tim Graham of the Buffalo News, citing two sources that are โ€œdeeply plugged into the Bills sale process,โ€ reports that the bid figures for the franchise being circulated are all inaccurate.

Grahamโ€™s sources mentioned that the reported $1.2 billion bid from the Toronto group, which includes Jon Bon Jovi, is โ€œquite higher than reality.โ€

Graham points out that Tuesdayโ€™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 didnโ€™t match the first bid from Buffalo Sabres owner Terry Pegula.

According to Krykโ€™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 groupโ€™s bid was more likely to be closer to the โ€œ$800-million to $900-million range.โ€

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