As expected, Toronto group resubmits first-round bid

Chairman of Maple Leaf Sports & Entertainment (MLSE) Larry Tanenbaum. (REUTERS)

Chairman of Maple Leaf Sports & Entertainment (MLSE) Larry Tanenbaum. (REUTERS)

JOHN KRYK, QMI Agency

, Last Updated: 5:52 PM ET

The rebid is in.

As expected, the Toronto group seeking to buy the Buffalo Bills on Tuesday night resubmitted its first-round bid, QMI Agency has learned.

It was not known by late Wednesday afternoon whether the trust running the sale and its transaction team deemed the bid satisfactory, in order to advance the group to the sale's final phase.

This is seen as the last chance for the group comprising rocker Jon Bon Jovi, MLSE chairman Larry Tanenbaum and the Rogers family to remain in the chase for the NFL club.

Morgan Stanley, the investment bank conducting the sale of the Bills for the trust of the late Ralph Wilson, rejected the trio's first, non-binding bid last week. Sources said the bid was surprisingly and uncompetitively low -- perhaps less than $900,000.

 


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