Jon Bon Jovi and his Toronto backers are reassessing whether even to continue in their pursuit of the Buffalo Bills, QMI Agency has learned.
Their bid has been on the rocks for weeks and no one within the group is optimistic they'll wind up buying the NFL team, according to two sources in the position to know.
The group cancelled a scheduled tour of Ralph Wilson Stadium on Wednesday.
"They're hanging on by the skin of their teeth," one source said. "The bid's on life support."
It has nothing to do with the announced departure Thursday of CEO Tim Leiweke from Maple Leaf Sports & Entertainment, whose role in the bid has been overstated (most often by Leiweke himself).
But it has everything to do with (1) the group's limited bidding power with Bon Jovi in the lead, and (2) lingering doubts about whether the trust would sell the club to a group that continues to refuse to commit to keeping the Bills in Western New York long-term.
A source said the Toronto group bowed out of a planned tour of the Bills' stadium in Orchard Park on Wednesday, and has no plans to reschedule it.