Bon Jovi still part of Toronto group bidding on Bills: Sources

Jon Bon Jovi is part of a Toronto group trying to buy the Buffalo Bills. (JOEL LEMAY/QMI Agency)

Jon Bon Jovi is part of a Toronto group trying to buy the Buffalo Bills. (JOEL LEMAY/QMI Agency)

John Kryk, QMI Agency

, Last Updated: 1:18 AM ET

Jon Bon Jovi remains part of the Toronto group hoping to buy the Buffalo Bills. He never left; he never got the boot.

Multiple sources over the weekend said the rock star has not been “chucked from” the group, as reported Friday night by the New York Post, nor has Bon Jovi left the group.

That said, Bon Jovi and his two Toronto support investors – Maple Leaf Sports & Entertainment chairman Larry Tanenbaum and the Rogers family, whose interests are represented by Edward Rogers, deputy chairman of Rogers Communications -- remain highly pessimistic they’ll be able to buy the team, something sources have been telling QMI Agency since the beginning of August.

The Toronto group’s bid ceiling with Bon Jovi as controlling partner is up to about $1.2 billion, sources have said. That’s unlikely to be enough to buy the team.

Finalists must submit binding, definitive bids by Sept. 9, QMI reported late last month.

The trust of the late Ralph Wilson, who founded the Bills in 1960, is overseeing this private sale with the help of investment bank Morgan Stanley and law firm Proskauer Rose.

The Toronto group’s first, non-binding bid -- which QMI now knows to have been an exact range of $800 million to $900 million -- was deemed to be uncompetitively low by Morgan Stanley in late July.


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