In 2014, Donald Trump set his sights on acquiring the Buffalo Bills, one of the NFL’s oldest franchises, only to see his dreams dashed in a fiercely competitive bidding war.
Donald Trump, then a businessman in 2014, wanted to buy the Buffalo Bills, one of the NFL’s oldest franchises.
However, his bid fell short in the highly competitive bidding process, and his long dream of acquiring the team shattered.
He sought to acquire the legendary team and high-profile bidders like Terry Pegula and Jon Bon Jovi.
However, the NFL’s league meetings unanimously approved Terry and Kim Pegula’s team purchase bid.
Trump’s bid of $1 billion was significant, especially given the Bill’s then-estimated value of around $870 million. Still, Pegulas outbid him for $1.4 billion.
Donald Trump’s Failed to Purchase the Buffalo Bills Due to Financial Transparency Issues and NFL Skepticism
In 2014, the president of the United States, Donald Trump, made a notable attempt to purchase Buffalo Bills.
The franchise had just become available for bidding following the death of their longtime owner, Ralph Wilson.
Though the bidding amount was a whopping billion dollars, Terry Pegula, owner of the NHL’s Buffalo Sabres, outbid him.
Several factors contributed to Trump’s unsuccessful trial. Even Investment bankers were skeptical about his chances of approval.
He had a significantly low chance of receiving the NFL’s approval due to his previous ownership of casinos.
Besides, league management never let go of his controversial history with the league, which stemmed from his role in the 1980s lawsuit.
Internal communications revealed that Morgan Stanley executives doubted whether he could garner support from the NFL.
It raised questions about his gaining approval votes from other team owners, which is crucial for potential ownership.
One banker even noted that Trump had few chances of getting the NFL’s approval. His reputation and history were the concern, not just his financial capability.
Further, his tactic in buying the franchise diverged from the conventional practices and is often characterized as aggressive.
Sources believe he never presented accurate, realistic financial statements to enhance his negotiating position.
Even though Trump asserted that he has a net worth of $8 billion, he didn’t provide all his financial statements before the bidding.
His then-lawyer, Michael Cohen, indicated that he would only release the records once confirmed as a “final bidder.”
The lack of transparency with the management and potentially fraudulent financial propositions caused Donald Trump to lose.
Following all the controversies, Terry Pegula and Kim Pegula ultimately purchased the team for $1.4 billion.
Donald Trump’s Controversial History with the NFL and the USFL Lawsuit Contributed to His Failed 2014 Buffalo Bills Bid
Donald Trump never had a good history with the NFL, which was marked by controversy and legal confrontations.
In 1984, he purchased the New Jersey Generals, one of the original franchises in the United States Football League (USFL).
His arrival in the league coincided with financial instabilities and war among teams to buy talents.
During that period, people knew Trump for his aggressive strategies and spending on star players. One tactic he used was signing Herschel Walker.
However, the then-business tycoon’s ambitions extended beyond merely owning a team, and he tried elevating USFL’s status.
He pushed USFL for a switch from a spring schedule to a fall one, directly competing with the NFL.
Following the direct competition, the NFL pressured television networks not to air USFL games that year.
Knowing the situation, Donald led fellow USFL owners to file an antitrust lawsuit against the NFL, alleging its market monopoly.
The lawsuit alleged the NFL’s monopoly by controlling television contracts and suppressing competition.
The trial revealed a complex legal battle, but the result officially doomed USFL for good. People often see it as the day Trump’s narcissism killed the league.
The same incident and financial skepticism impacted his attempt to buy the NFL’s Buffalo Bills in 2014.
In Case You Didn’t Know
- Before Buffalo Bill, the former president tried buying the New England Patriots in 1988.
- In 1989, he launched a board game called Trump: The Game, similar to Monopoly.
- Trump is the first U.S. president to come from a purely business background.
