What's next in Bills sale process

Prospective buyers for the Bills have been told they have until July 29 to provide a non-binding...

Prospective buyers for the Bills have been told they have until July 29 to provide a non-binding "indication of interest." (Kevin Hoffman/USA TODAY Sports)

JOHN KRYK, QMI Agency

, Last Updated: 8:21 PM ET

Here's what's next in the Buffalo Bills sale process.

After having received access to the sales book on Thursday, potential bidders now must decide whether to proceed and actually bid.

WGRZ-TV's Adam Benigni reported Thursday that prospective buyers have been told they have until July 29 to provide Morgan Stanley, the investment bank administering the sale, with a non-binding "indication of interest."

That's not all they likely have been asked to provide.

Marc Ganis, president of Chicago-based Sports Corp. Ltd., is a long-time expert in the field of pro sports franchise sales. While not speaking specifically about the Bills sale, Ganis said usually the seller at this point will ask who is in each bid group, background information on each member, information on how they will finance their proposed purchase including amount of equity and debt for each of the group's members.

After approvals? Indicative bids.


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