Golisano is interested — and would keep Bills in WNY
- Golisano was at Bishop Kearney High School Thursday to receive an honor for his support of the school
- He confirmed an interest in buying the team%2C saying it%27s a %22very important asset%22 for WNY
- He%27s waiting for financial information on the team to be released in a few weeks before making any decisions
Billionaire philanthropist Tom Golisano confirmed Thursday that he has at least some interest in buying the Buffalo Bills, and said if he does, he will keep the team in Buffalo, calling it a "very important asset" for western New York.
Golisano was at Bishop Kearney High School Thursday to receive an honor for his support of the school. He briefly addressed the Bills during his own prepared remarks, then took several questions on the topic from students.
Reports surfaced last month that Golisano is considering joining with mall developer Scott Congel to buy the team, which is in limbo since the death of founder and longtime owner Ralph Wilson Jr in March.
It was evident from his answers that he's been involved in the behind-the-scenes process with the National Football League and the trust that is currently in charge of the Bills. He said he's waiting for financial information on the team to be released in a few weeks before making any decisions.
Less than two weeks ago, two New York City firms were hired by the trust to oversee the sale of the team. Morgan Stanley is serving as the financial adviser, and Proskauer Rose was retained on the legal side. They are in the process of putting together a data package to present to all interested parties, and once the information has been reviewed, the potential buyers can then begin to formulate their bids.
"The important thing is someone buys (the team) and keeps it in western New York," he said. "Do I feel it has to be me? No, I'm not possessed about owning the Buffalo Bills, just as I wasn't possessed about owning the Buffalo Sabres. They were in danger of leaving, too. In fact they were a lot closer to leaving than the Bills are. I got involved then because I wanted to keep that entity in western New York, and I want to keep the Buffalo Bills in western New York."
He criticized the team and its partners for undertaking the current $130 million stadium renovation when a new stadium might be necessary in the near future.
"It doesn't sound like they did a lot of planning," he said. "Why go through all that renovation and $130 million when you're going to build a new stadium anyway?"
Golisano also alluded to governmental support for a roof on the new stadium, if and when it is built.
"My guess, and it's strictly a guess, is the stadium will be covered," he said. "I don't know if it'll have a sliding roof or just a permanent roof, but my guess is it will be covered. And the state government, our governor and some of our U.S. senators are very much in favor of this happening."
The Congel family owns a 55-acre parcel of land in West Seneca, about 10 minutes west of Orchard Park right off the Thruway, that was the former home of the Seneca Mall. Although Golisano and Congel have not announced any type of partnership, The Buffalo News reported that sources have indicated it is a real possibility. And with Congel providing the land and Golisano the primary capital, it would seem to be a viable union if their bid is commensurate with other potential buyers.
Congel has said he envisions a new stadium at this site being a year-round venue through further development, and hosting expos, concerts and conventions. He pointed to Lucas Oil Stadium in Indianapolis as a comparable model.
The main thing Golisano has going for him is his complete willingness to keep the Bills in Buffalo, and it has been reported that that is a key prerequisite the trust will be looking for when it sifts through the bids.
He said some of the price tags for recent pro-sports franchises, including a reported $2 billion for the Los Angeles Clippers, "seem absurd" and are beyond what he'd be willing to pay. In the most recent estimates of NFL franchise worth by Forbes magazine, the Bills come in at around $870 million.
"Everybody has a degree of reasonableness," he said. "If it costs way more than I'm willing to pay, then I won't feel bad if I don't get them. I'll only feel bad if they move out of western New York. ... If they get moved out of western New York, I'm not going to feel very good about it. I might even feel partially responsible. Not totally, but partially responsible."
JMURPHY7@DemocratandChronicle.com
Includes reporting by staff writer Sal Maiorana