Non-binding bids for Bills ownership due Tuesday

Updated: 07/29/2014 11:30 PM
Created: 07/29/2014 6:16 PM WHEC.com

Now the search for the Buffalo Bills’ new team owner is heating up. Tuesday was the deadline for groups interested in buying the team to submit a non-binding bid.

The pursuit of the Bills isn't just a bidding war. It is becoming a war of words. Donald Trump was on FOX News Monday night talking about his intentions to bid and not to over bid. He said, "I’m not going to do something totally stupid, maybe just a little bit, but not totally stupid."

Trump and others interested in the Bills had to submit their non-binding bid by 5:00 p.m. Tuesday. This is just the first round.

Forbes estimates the Bills to be worth $870 million and the franchise could sell for over $1 billion.

The big names expected to bid include Sabres owner Terry Pegula, former Sabres owner Tom Golisano and Jon Bon Jovi, who is part of a Toronto based group that according to the Associated Press, has looked at possible Toronto based sites for the team. 

That does not sit well with soon-to-be Buffalo Bills Hall of Famer Andre Reed. In an article released by New York Magazine, Reed was quoted saying, “Man, (expletive) Bon Jovi. You might as well just take this city, throw it in the river, and let it go down Niagara Falls." 

Morgan Stanley is the banking firm overseeing this process. They will not make bids public. The firm will determine over the next several weeks which groups can make a second offer.

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