Internal emails revealed during Donald Trump’s civil fraud trial shed light on his failed attempt to buy the Buffalo Bills in 2014. The emails, which were presented in court, showed that investment bankers doubted the NFL would approve Trump’s bid due to his past ownership of casinos and his involvement in the USFL’s antitrust suit against the NFL in the 1980s. However, the bankers encouraged him to continue with the process, stating that his show of support wouldn’t hurt his chances.
Despite the skepticism, Trump offered $1 billion in cash for the Bills three months later. He became one of three known finalists vying to purchase the team after the death of founder Ralph Wilson. Ultimately, the NHL’s Buffalo Sabres owners, Terry and Kim Pegula, bought the Bills for $1.4 billion. Rock star Jon Bon Jovi and his group had also expressed interest in acquiring the team.
Trump’s failed bid for the Bills is now under scrutiny in a lawsuit brought by New York Attorney General Letitia James. The lawsuit accuses Trump of deceiving banks, insurers, and others by inflating the values of his assets in financial statements. Trump denies any wrongdoing and claims that his statements actually underestimated his wealth. He views the lawsuit as a politically motivated attempt by James and other Democrats to hinder his campaign.
Trump’s history with professional football includes owning the USFL’s New Jersey Generals and leading the league to sue the NFL for alleged monopolization of professional football. The USFL won a pyrrhic victory, with a $1 jury award that was later multiplied to $3 and totaled $3.76 with interest. However, the USFL folded shortly after.
During the bid for the Bills, Trump cited his net worth as $8 billion in an initial offer letter but did not provide his financial statements. His lawyer, Michael Cohen, informed the bankers that Trump would only release his financial records if he became the final bidder. Instead of providing the documents, Trump distributed copies of Forbes magazine’s list of wealthy celebrities during a presentation to the bankers.
Throughout the sale process, Cohen insisted that Trump was serious about his bid and committed to keeping the Bills in Buffalo. Despite reports suggesting otherwise, Cohen claimed that Trump had the financial resources to complete the deal and pointed to his numerous properties as evidence.
Although Trump’s bid did not have the highest financial offer and he had not provided the required documents, the bankers advised him that he could still prevail if he increased the value during the diligence process. The bankers expressed a desire to keep him involved and agreed to privately pre-vet him.
Trump’s lawyer, Christopher Kise, argued in court that the bank had strung Trump along and never considered him a serious bidder. Kise suggested that they had used Trump’s name to drive up the price.
In 2016, Trump told the Associated Press that if he had been successful in buying the Bills, he would not have pursued a presidential campaign.
The trial is ongoing, and the outcome will determine the resolution of the allegations made by the New York Attorney General against Trump.
