Buffalo Bills hire financial, legal advisors for sale of franchise

Robert Mayer-USA TODAY Sports

The Buffalo Bills now have financial and legal council to advise them in the sale of the franchise - the process of which should begin within the next 30 days.

The Buffalo Bills on Wednesday announced that they have hired transaction counsel and an investment bank that will advise the trust in control of the organization during the sale of the franchise. The release announcing the hirings indicates that these advisors are expected to begin contacting prospective owners within the next 30 days.

Morgan Stanley is the financial firm involved in the sale process, and will value the franchise and field offers from potential ownership groups. Proskauer Rose will serve on the legal side of the coin, ensuring that the sale process complies with league, state and county laws.

"This will really begin the vetting process of the sale," Bills President and CEO Russ Brandon said on WGR 550 this morning. "The bank will go through all the interested parties and vet them."

Previous reports have indicated that the team could have a new ownership group vetted and selected by July, and Brandon admitted earlier this week at the NFL owners' meetings in Atlanta that having league owners vote on a new Bills owner by the next round of meetings in October remains a possibility.

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