Bon Jovi reportedly parts ways with Toronto group bidding on Bills - The Buffalo News

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Bon Jovi reportedly parts ways with Toronto group bidding on Bills

Buffalo Bills fans may not have Jon Bon Jovi to kick around anymore.

The New York Post is reporting that the New Jersey rocker has parted ways with other members of the Toronto-based group still in the running for the Bills.

Unnamed sources are saying the remaining suitors in the Toronto group – Larry Tanenbaum, chairman of Maple Leaf Sports & Entertainment, responsible for the NBA’s Raptors and NHL’s Maple Leafs, and Edward Rogers, chairman of Rogers Communication – are convinced their pitch will be taken more seriously with Bon Jovi no longer in the mix.

Bon Jovi, who had headed the group, would have been the principal owner of the Bills and, under NFL rules, would have had to put up 30 percent of the purchase price.

With the rocker’s net worth estimated at $300 million, the sources said, the group’s highest bid would have been capped at $1.1 billion.

In contrast, rival bidder Terry Pegula, the Buffalo Sabres owner who made his fortune in the fracking fields of the Marcellus shale, is reportedly willing to float a bid at $1.2 billion or more.

Thus, the Toronto group – with Bon Jovi – stood no chance, the sources added.

Another source said Rogers “is very serious” about buying the Bills, according to the Post.

The sources said that, despite recent media reports about the Toronto group’s bid for the Bills disintegrating, it was actually reorganizing for the new push.

Business magnate and TV personality Donald Trump also remains in the race for the team.

Final bids are due next week.


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