Gundlach says 'may or may not' be part of Buffalo Bills ownership group: CNBC

Tue Sep 9, 2014 11:28am EDT
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(Reuters) - DoubleLine Capital cofounder Jeffrey Gundlach told CNBC television on Tuesday he "may or may not" be a part of an ownership group to buy the Buffalo Bills National Football League team after the death of owner Ralph Wilson.

"I may be involved and I may not be involved," Gundlach told the business news channel. "My involvement has been completely centered around keeping them in Buffalo. I may continue to have involvement in that area."

Earlier, the Associated Press reported that Wilson's estate had tentatively approved a bid for the team from Terry and Kim Pegula, owners of the Buffalo Sabres National Hockey League franchise.

Gundlach said: "I won't be the majority owner, but I may be involved with the ownership team if we are certain they will keep them in Buffalo."

Gundlach, who grew up in Buffalo, said he expected an announcement on the team's future soon. He said his motivation for getting involved was to keep the team in Buffalo.

The Bills went on the block after Wilson, founding owner of the team and a member of the NFL's Hall of Fame, died in March. Morgan Stanley is managing the sale for the Wilson estate.

Other bidders included a group headed by Donald Trump and another from Toronto that included rock star Jon Bon Jovi.

Gundlach, who helps oversee $52 billion in assets as co-founder and chief investment officer at DoubleLine, is widely followed for his investment calls including a bet earlier this year that Treasuries were undervalued, relative to other sectors and that the selling pressure on the dollar was likely over.

He told CNBC he sees the dollar-yen cross rate reaching 200 in three to five years.

(Reporting By Jennifer Ablan, Daniel Burns and Samuel Forgione; Editing by Chizu Nomiyama and Jeffrey Benkoe)

Jeffrey Gundlach, chief executive and chief investment officer of DoubleLine Capital, speaks at the Sohn Investment Conference in New York, May 5, 2014. REUTERS/Eduardo Munoz