Rocker Jon Bon Jovi has been dropped by the Toronto-based group bidding for the Buffalo Bills, according to The New York Post.
The New Jersey-bred rocker has been discarded by the Toronto-based group of team owners composed of Larry Tanenbaum who controls the NHL's Toronto Maple Leafs and NBA's Toronto Raptors and Rogers communications chairman Edward Rogers. Per a source close to the situation, the group believes that they are in a better position to win the bidding for the Bills without Bon Jovi.
Bon Jovi was the lead bidder of the team, and under NFL rules, would need to come up with 30 percent of the purchase price. But the problem is that the rocker's net worth is only $300 million so the group's highest bid would only be around $1.1 billion.
One of their fiercest rivals is billionaire Terry Pegula who is said to be willing to shell out $1.2 billion or more for the franchise, so the Toronto-based group fear it would lose if it had Bon Jovi with them.
It is said that Rogers is the most serious amongst the investors in buying the team. The Post source also denied reports that the Toronto group's bid is falling apart, saying that it is actually reforming.
Another billionaire, Donald Trump, is also in the mix for the bidding. Final bids should be submitted next week.
In the past, it was reported that Bon Jovi's group was interested in joining forces with Bills legend Jim Kelly in bidding for the franchise.
© 2023 Sportsworldnews.com All rights reserved. Do not reproduce without permission.
