FOLLOW US

In a riveting courtroom showdown, a former Morgan Stanley managing director unveiled the captivating tale of Donald Trump's audacious $1 billion offer to acquire the Buffalo Bills in 2014. However, doubts loomed over whether the former president could successfully make it to the end zone in the NFL ownership game.

As New York Attorney General Letitia James pursues claims of fraud in business dealings against Trump, the trial has taken a surprising detour into the world of professional football. The court heard how Trump's aspirations to purchase the Bills unraveled after the passing of the team's original owner, Ralph Wilson.

Trump's $1B Buffalo Bills Bid : The Quest for New Ownership

K. Don Cornwell, a seasoned executive with expertise in sports and gaming, provided a gripping account of Morgan Stanley's involvement in finding a new owner for the iconic franchise. It was Donald Trump who expressed keen interest.

The courtroom was graced with a historic artifact—a July 2014 letter from Trump himself. In it, he boldly presented an all-cash offer of $1 billion for the team and asserted a net worth "in excess" of $8 billion. However, the attorney general countered that in 2014, Trump's actual net worth stood at a modest $1.4 billion. More astonishingly, Trump was accused of artificially inflating his net worth from 2011 to 2021 in a bid to secure advantageous deals with financial institutions and insurers.

The Elusive Assurance of Wealth

Amidst the intriguing backdrop, Alex Finkelstein from the attorney general's office pressed Cornwell on whether the investment bank had truly trusted Trump's financial representations. Cornwell confirmed that they did but added a twist. A letter from Deutsche Bank had been their beacon of hope, attesting to Trump's financial capabilities.

"Based upon our preliminary review of the current financial information of Mr. Donald J. Trump made available to us, including liquidity and asset value, it is our assessment that Mr. Donald J. Trump would have the financial wherewithal to fund his bid," the letter declared.

Cornwell highlighted the significance of this letter, as it offered the much-needed confidence that Trump could back his audacious offer with actual funds. Yet, there were storm clouds on the horizon.

A Game of Doubt and Secrecy

Email exchanges disclosed an underlying sense of perplexity within Morgan Stanley. Cornwell candidly admitted his reservations regarding Trump's ability to obtain the NFL's approval to purchase the Bills. The league's leadership harbored concerns about having an owner with ties to the gambling industry, considering Trump's previous ownership of multiple Atlantic City, New Jersey, casinos.