Saturday, August 30, 2014

Bon Jovi tossed out of group bidding for Bills: Report

It sounds as if Jon Bon Jovi got a little taste of the Richie Sambora treatment himself this week after the wealthy rocker was tossed out a group bidding for the Buffalo Bills.

The deep-pocketed Toronto-based sports team owners — who put up an offer for the Buffalo Bills — and the New Jersey singer have parted ways,  reported The N.Y. Post.

The remaining entities in the group — Larry Tanenbaum, chairman of Maple Leaf Sports & Entertainment, which controls the NHL’s Maple Leafs and NBA’s Raptors, and Edward Rogers, chairman of Rogers Communications — believe they are in a stronger position to win the Bills auction without Bon Jovi, sources close to the situation said Friday.

Bon Jovi, a former Arena Football League team owner, had led the group, a source close to the situation said. As the lead bidder, he would have been the principal owner and therefore, under NFL rules, would have to put up 30 percent of the purchase price.

With Bon Jovi’s net worth at roughly $300 million, according to sources, the group’s highest bid would have been capped at about $1.1 billion.

With rival bidder Terry Pegula, a fracking billionaire, said to be willing to push an offer toward $1.2 billion or higher, the Toronto group, with Bon Jovi, feared it was bound to be outbid, sources said.

“Rogers is very serious” about buying the team, another source close to the process said.

There have been recent media reports about the Toronto bid falling apart — but in reality it is reforming, claim sources.

Real Estate mogul Donald Trump is reportedly still in the bidding mix, as well. Final bids are due next week.

Maybe old Jonnie could could start a new band — Ban Jovi.

Morgan Stanley, the investment bank selling the Bills, has been trying to help Bon Jovi find new backers, sources said. Bon Jovi and Tanenbaum spokespeople did not return calls.


  1. bon jovi is too good for all of you anyway!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!