Singer ousted from Toronto-based group
Sat August 30, 2014
Bon Jovi out as Bills buyer
There has been a signficant change in the Toronto-based investment team that is pursuing purchasing the Buffalo Bills.
The New York Post is reporting that Jon Bon Jovi is no longer a partner in that group. Bon Jovi was positioned to be the principle owner should the group succeed in buying the team. But NFL guidelines require that the principle owner fund at lest 30% of the purchase price. Bon Jovi's personal wealth, valued at $300 million, is not considered to be enough to keep pace with what Terry Pegula can bid for the team.
The rest of the Toronto group will remain in the bidding process.
Bon Jovi faced considerable derision from Western New Yorkers after rumors surfaced that the Toronto group was planning to move the team north.