Friday, April 24, 2015
FAIRFIELD-SUISUN, CALIFORNIA
99 CENTS

AP Source: NFL stadium sites explored in Toronto

By
From page B9 | July 25, 2014 |

BUFFALO, N.Y. — A Buffalo Bills prospective ownership group that includes rocker Jon Bon Jovi has conducted a feasibility study into buying the NFL franchise and building a stadium in Toronto, a person close to the situation said.

The study identified at least three potential stadium sites, two in Toronto, including one on the waterfront, and another in the suburb of Mississauga, the person told The Associated Press on Thursday. The person spoke to the AP on condition of anonymity because Bon Jovi and his partners, Larry Tanenbaum and the Rogers family, have not publicly revealed details of their plans to purchase the team.

Andy Bergmann, responsible for overseeing the Bon Jovi group’s stadium plans, confirmed Thursday in an email to the AP that his company has conducted stadium studies, “but nothing related to any specific site.”

“We have undertaken engineering and design studies,” wrote Bergmann, co-founder of Toronto-based Wessex Capital Partners, a growth equity investment firm that specializes in architecture, design and engineering services. “All of our work has been about a generic site and whether it was more rural or urban. We are aware of potential sites in the western NY and southern Ontario region, and are in fact meeting with two Buffalo area developers next week.

“No feasibility studies have been undertaken on any site to date.”

Tanenbaum is chairman of Maple Leaf Sports and Entertainment, which controls the NBA Raptors and NHL Maple Leafs. The Rogers family includes Edward Rogers, deputy chairman of Rogers Communications, the Toronto-based communications giant.

The Bills are being sold following the death of Hall of Fame owner Ralph Wilson in March.

Under terms of the team’s lease with the state and county, the Bills — including Wilson’s estate — are not allowed to negotiate with anyone, who to their knowledge, has an intention of relocating the team before the end of the 2022 season, when the lease ends.

The feasibility study was commissioned about 18 months ago and overseen by an investment bank, the person said, adding that one of the stadium construction costs was between $800 million and $900 million.

The Bon Jovi group has not said they would relocate the team, but Erie County Executive Mark Poloncarz told the AP on Wednesday that he has no doubt the group’s intentions are to move the Bills to Toronto.

“It is my personal opinion that any bid associated with the Toronto group has a long-term interest in moving the team to Toronto,” Poloncarz said, while attending Bills training camp in suburban Rochester, New York.

The Bills most recently were valued by Forbes at $870 million. They are projected to be sold for at least $1 billion, partly because NFL teams rarely go on the market.

John Vrooman, a Vanderbilt professor who specializes in sports economics, said feasibility studies are standard practice among prospective ownership groups and there should be no immediate cause for alarm. He said such studies evaluate expected cash flows and best- and worst-case risk factors based on location.

Vrooman projected the Bills to be valued at between $950 million and $1 billion in western New York, and about $1.5 billion if they moved to Toronto and even more in Los Angeles.

The Toronto group is represented by Goldman Sachs, and is one of at least 10 groups to have submitted a nondisclosure agreement form to Morgan Stanley, the banking firm overseeing the Bills sale on behalf of Wilson’s estate.

Among those also listed as returning their forms are Buffalo Sabres owners Terry and Kim Pegula and New York City real estate mogul Donald Trump.

The next step comes Tuesday.

That’s when prospective bidders must submit to Morgan Stanley what’s called “a first letter of indication,” which includes their initial and non-binding bid to purchase the team, said a person familiar with the sale process. The person spoke to the AP on the condition of anonymity because the sale process is private.

The person said the firm will review the bids and determine which prospective groups will be eligible to proceed to the next stage of bidding.

The list of remaining groups allowed to move forward is anticipated to be identified by the end of next week, the person said. Those groups will then be granted further access to the Bills financial date to better determine their bid.

It’s possible that a prospective owner could be identified by as early as late August, and be presented to NFL owners for approval during league meetings in early October.

 

The Associated Press

The Associated Press

LEAVE A COMMENT

Discussion | No comments

The Daily Republic does not necessarily condone the comments here, nor does it review every post. Read our full policy

  • Recent Articles

  • Enter your email address to subscribe and receive notifications of new posts by email.

  • .

    Solano News

     
    House of Floyd gears up for Vacaville show

    By Amy Maginnis-Honey | From Page: B1

     
    Spring band festival gets new life in Fairfield

    By Amy Maginnis-Honey | From Page: B1, 4 Comments

     
    Students showcase artistic talents at annual show

    By Amy Maginnis-Honey | From Page: B1 | Gallery

    Groups offer ‘The Raising of America’ sneak peek

    By Kevin W. Green | From Page: B2

     
    Muslim women in post 9/11 world topic of play

    By Amy Maginnis-Honey | From Page: B2

    Durst will perform at Children’s Network benefit

    By Amy Maginnis-Honey | From Page: B2

     
     
     
     
    Dixon May Fair offers sneak peek

    By Amy Maginnis-Honey | From Page: A3

     
    Fairfield police log: April 22, 2015

    By Susan Hiland | From Page: A12

    Suisun City police log: April 22, 2015

    By Susan Hiland | From Page: A12

     
    .

    US / World

    Few vets getting care through $10 billion VA program

    By The Associated Press | From Page: A1, 3 Comments | Gallery

     
    Google CEO compensation tops $100M

    By The Associated Press | From Page: A4

    Pentagon eyes possible use of cyberwarfare in the future

    By The Associated Press | From Page: A4

     
    San Diego man arrested in terror case

    By The Associated Press | From Page: A4, 1 Comment

    Judge denies parole to former Manson Family member

    By The Associated Press | From Page: A5, 1 Comment

     
    Evidence building of fracking-caused earthquakes

    By The Associated Press | From Page: A5, 1 Comment

    Wife of slain mayor accused of manslaughter

    By The Associated Press | From Page: A5

     
    Cesar Chavez gets full military honors

    By The Associated Press | From Page: A5

    Petraeus sentenced to 2 years’ probation for military leak

    By The Associated Press | From Page: A6 | Gallery

     
    Loretta Lynch wins confirmation as attorney general

    By The Associated Press | From Page: A7

    American, Italian hostages killed in US drone strike

    By The Associated Press | From Page: A7

     
    New DNA codes for mammoths: Step toward bringing them back?

    By The Associated Press | From Page: A7

     
    Gay marriage a difficult issue for GOP White House hopefuls

    By The Associated Press | From Page: A7

     
    Armenians mark 100-year anniversary of massacres

    By The Associated Press | From Page: A10

    Thousands evacuated following Chilean eruption

    By The Associated Press | From Page: A10

     
    European leaders rally to solve migrant ship issue

    By The Associated Press | From Page: A10

    .

    Living

    Today in history: Friday, April 24, 2015

    By The Associated Press | From Page: A2

     
    Community Calendar: April 24, 2015

    By Susan Hiland | From Page: A2

    Horoscopes: April 24, 2015

    By Holiday Mathis | From Page: A9

     
    My late husband’s brother still has drum set meant for my son

    By Kathy Mitchell and Marcy Sugar | From Page: A9

    .

    Entertainment

    Week in preview April 24-30, 2015

    By Amy Maginnis-Honey | From Page: B1

     
    American Indian actors quit Adam Sandler movie over names

    By The Associated Press | From Page: B3

     
    Basses discuss being black opera singers

    By The Associated Press | From Page: B3 | Gallery

    Entertainment Calendar: April 24, 2015

    By Susan Hiland | From Page: B4

     
    Facing the second album challenge with Alabama Shakes

    By The Associated Press | From Page: B6 | Gallery

    TVGrid

    By Daily Republic Syndicated Content | From Page: B6

     
    .

    Sports

     
    Prep track: Indians boys roll to win in four-way meet

    By Daily Republic staff | From Page: B7

    Vanden girls soccer rally late for 3-3 tie with American Canyon

    By Marcus Lomtong | From Page: B7 | Gallery

     
    Warriors erase 20-point hole, beat Pelicans 123-119 in OT

    By The Associated Press | From Page: B7

    Maxwell hits winning single in 10th, Giants sweep Dodgers

    By The Associated Press | From Page: B7

     
     
    Tyrone Wallace to stay at Cal for senior season

    By The Associated Press | From Page: B8

    BALCO & Biogenesis may be over, but steroids cloud remains

    By The Associated Press | From Page: B8

     
    Toyota to provide 1st hydrogen-fueled pace car

    By The Associated Press | From Page: B8

    6 Hall of Famers to announce picks at NFL draft

    By The Associated Press | From Page: B8

     
    A’s take hard-luck 2-0 loss despite allowing 1 hit to Angels

    By The Associated Press | From Page: B8

    Home run king Barry Bonds’ legacy might always be tarnished

    By The Associated Press | From Page: B8

     
    Sleek new plans released for Los Angeles-area NFL stadium

    By The Associated Press | From Page: B8

    Aaron Hernandez moved to new prison after murder conviction

    By The Associated Press | From Page: B8

     
    Manfred: Rose will be allowed to be part of All-Star Game

    By The Associated Press | From Page: B8

    New track announcer taking the mike at Churchill Downs

    By The Associated Press | From Page: B8

     
    WNBA’s Griner, fiancee Glory Johnson arrested after fight

    By The Associated Press | From Page: B8

     
    This date in sports history for April 24

    By The Associated Press | From Page: B9

    Boo Weekley, Brendon de Jonge share Zurich Classic lead

    By The Associated Press | From Page: B10

     
    Champ Lydia Ko takes first-round lead in Swinging Skirts

    By The Associated Press | From Page: B10

    Michael Crabtree joins Raiders with something to prove

    By The Associated Press | From Page: B10

     
    .

    Business

     
    5 things to know about GM’s revamped Chevy Malibu

    By The Associated Press | From Page: C2 | Gallery

    Ford unveils new Taurus influenced by China

    By The Associated Press | From Page: C2

     
    Home sales off to slow start

    By The Associated Press | From Page: B11

    Nasdaq closes at record high

    By The Associated Press | From Page: B11

     
    China fines Mercedes after price-fixing probe

    By The Associated Press | From Page: B11

    Agriculture officials look to curtail emissions from farming

    By The Associated Press | From Page: B11

     
    Toyota tops in 1Q global vehicle sales

    By The Associated Press | From Page: B11

    Unemployment numbers point to improved job security

    By The Associated Press | From Page: B11

     
    .

    Obituaries

    Kim Nguyen

    By Nancy Green | From Page: A4

     
    Gladys Speaks

    By Nancy Green | From Page: A4, 1 Comment

    Vernell Stewart

    By Nancy Green | From Page: A4

     
    Elizabeth Cepeda

    By Nancy Green | From Page: A4, 1 Comment

    .

    Comics

    Peanuts

    By Daily Republic Syndicated Content | From Page: A8

     
    Garfield

    By Daily Republic Syndicated Content | From Page: A8

    Frank and Ernest

    By Daily Republic Syndicated Content | From Page: A8

     
    Pickles

    By Daily Republic Syndicated Content | From Page: A8

    Zits

    By Daily Republic Syndicated Content | From Page: A8

     
    Beetle Bailey

    By Daily Republic Syndicated Content | From Page: A8

    For Better or Worse

    By Daily Republic Syndicated Content | From Page: A8

     
    Baldo

    By Daily Republic Syndicated Content | From Page: A8

    Get Fuzzy

    By Daily Republic Syndicated Content | From Page: A8

     
    Baby Blues

    By Daily Republic Syndicated Content | From Page: A8

    Sally Forth

    By Daily Republic Syndicated Content | From Page: A8

     
    Blondie

    By Daily Republic Syndicated Content | From Page: A8

    Wizard of Id

    By Daily Republic Syndicated Content | From Page: A8

     
    B.C.

    By Daily Republic Syndicated Content | From Page: A8

    Rose is Rose

    By Daily Republic Syndicated Content | From Page: A8

     
    Dilbert

    By Daily Republic Syndicated Content | From Page: A8

    Bridge

    By Daily Republic Syndicated Content | From Page: A9

     
    Crossword

    By Daily Republic Syndicated Content | From Page: A9

    Sudoku

    By Daily Republic Syndicated Content | From Page: A9

     
    Word Sleuth

    By Daily Republic Syndicated Content | From Page: A9

    Cryptoquote

    By Daily Republic Syndicated Content | From Page: A9