August 4, 2014
Ever since the Buffalo Bills longtime owner, Ralph Wilson, passed away in March, there has been a lot of speculation regarding who would buy the storied franchise. The sale of the Bills moved to the next stage last Tuesday when Morgan Stanley received three bids to purchase the team; one from Terrence Pegula and his wife (current owner of the Buffalo Sabres), another from Donald Trump, and the final, from a Toronto-based group of investors including Jon Bon Jovi. All three groups have publicly stated that they are interested in keeping the franchise in Western New York; however, the Toronto-based investment group recently performed a feasibility study for a new stadium in the Toronto area.
After reading numerous articles and maintaining a positive attitude toward the future of football in Western New York--I liken this decision to picking a financial advisor. I caution against making a decision based on cost alone; there is always someone willing to do it cheaper (or in the case of selling a franchise--willing to offer the highest bid). Keep in mind that the cheapest service or the highest bid doesn't automatically translate into the appropriate solution. There needs to be a sense of comfort, confidence, and trust. Surely, cost should be considered, but that shouldn't be the sole factor in the decision you make. You should make your decision based on of your level of comfort and confidence with the individual, or group, to help you achieve your future goals.
The future of professional football in Western New York is on the line, and my hope is that the current management won't make their decision solely based on the highest bidder. I highly doubt this blog and my advice will make it to the Bills' decision makers--and I can't control that. All I can control is that you won't hear Bon Jovi music coming from my car or my home anytime soon.
Ethan Wade, Financial Advisor
(This article contains the current opinions of the author but not necessarily those of Brighton Securities Corp. The author's opinions are subject to change without notice. This blog post is for informational purposes only. Forecasts, estimates, and certain information contained herein should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. References to specific securities and their issuers are for illustrative purposes only and are not intended and should not be interpreted as recommendations to purchase or sell such securities).