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Trump says his Buffalo Bills bid unlikely to win

By WTOP Staff

CAROLYN THOMPSON
Associated Press

BUFFALO, N.Y. (AP) — Donald Trump says he is unlikely to be the next owner of the Buffalo Bills because he’s “not going to do something totally stupid” to make the team his.

“I’ll be bidding, but many other people will be bidding,” the billionaire businessman said on Fox News ahead of a Tuesday deadline for prospective owners to submit initial offers.

The National Football League franchise is for sale following the death in March of owner Ralph Wilson.

“I would say the chances are very, very unlikely, because I’m not going to do something totally stupid,” Trump said, “Maybe just a little bit stupid, but not totally stupid.”

Others who have shown interest in buying the Bills include Buffalo Sabres owners Terry and Kim Pegula, former Sabres owner B. Thomas Golisano and a group that includes rocker Jon Bon Jovi and Canadian partners Larry Tanenbaum, chairman of Maple Leaf Sports and Entertainment, and the Rogers family of Toronto-based Rogers Communications.

Trump’s lawyer Michael Cohen told The Associated Press the mogul’s bid package would be submitted Tuesday afternoon.

The Pegulas also submitted a bid, according to a person familiar with the sale process who spoke to the AP on the condition of anonymity because the sale is private.

The Bills most recently were valued by Forbes at $870 million but are expected to sell for at least $1 billion, partly because NFL teams rarely go on the market.

“I’m … somebody that likes to buy for the right price,” Trump said. “Right now you see pricing of certain types of assets — including real estate assets — they’re going through the roof.”

About 10 prospective ownership groups submitted nondisclosure agreements to Morgan Stanley, the banking firm overseeing the Bills sale on behalf of Wilson’s estate. Not all will necessarily follow up with a bid.

Because the sale process is private, Morgan Stanley will not make names of would-be buyers public. The firm will review the initial non-binding bids and is expected within the next week to determine which groups may progress to the next stage of bidding.

The new owner could be identified by Labor Day and be presented to NFL owners for approval during league meetings in early October.

Meanwhile, representatives of the Bon Jovi group who have been exploring potential stadium sites scheduled a meeting with upstate New York developer Scott Congel, a person familiar with the meeting told the AP on Tuesday. The person spoke on the condition of anonymity because the group has not disclosed who it is meeting with and the person wasn’t authorized to do so.

Congel, the son of Pyramid Management Group owner Robert Congel, has proposed building a stadium on a former mall site in the Buffalo suburb of West Seneca. Syracuse-based Pyramid is one of the largest shopping mall developers in the northeast.

The AP reported last week that the Bon Jovi group had conducted a feasibility study that included building a stadium in Toronto but also planned to meet with two Buffalo-area developers. A lease agreement essentially locks the Bills into staying in Buffalo through the 2019 season. It is unclear if the group would eventually want to move the team to Toronto.

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AP Sports Writer John Wawrow contributed to this report.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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