Report: Bon Jovi, Tanenbaum & Rogers group express interest in Bills
by Joe Buscaglia,posted Jul 19 2014 8:53AM
In less than two weeks the sale process will reach it's next step and prospective owners will start to see the more detailed financial information of the Buffalo Bills. In the meantime, some of those interested in purchasing the franchise are having their intentions made public, and the Toronto-based group of rocker Jon Bon Jovi, Larry Tanenbaum and the Rogers family have expressed interest in buying the Bills.
According to John Wawrow of the Associated Press, the group has hired a banking firm and sent their paperwork to the Bills in order to gain access to the franchise's financial information. Their, and other prospective buyers' next step will be to provide more paperwork by the July 29 deadline, which includes their own financial information for the team's financial and legal firms to review.
Bon Jovi was only rumored to be interested in the Bills prior to the report, and now both Tanenbaum and the Rogers family (most notably Edward), have been tied to the rock star as well. According to Wawrow, there is no indication at this point if the Toronto-based group would bid on the franchise with the intention to move it north of the border.
The Bills current lease has a brief window in 2020 to break the lease with Erie County and Ralph Wilson Stadium to move the franchise for a penalty of $28.4 million. At any other time during the span of the lease, the team would be assessed a $400 million penalty if attempting to move the franchise.
In addition to the Toronto group, one man previously linked to the sale of the team didn't do anything to remove speculation of his intentions of bidding on the franchise. Speaking with WKBW on Friday, Syracuse developer Scott Congel did not deny that he's interested in bidding.
"The speculation may be correct," Congel said. "Obviously we have a strong interest in making sure that the Buffalo Bills stay in western New York, and we’re taking a serious look at it."
Congel was mentioned in the same breath as another prospective bidder, Tom Golisano, and at one point there was some thought that the two sides would team up. Since that speculation, Tim Graham of The Buffalo News reported that the pairing were no longer working together. The report also said Golisano was intending on bidding on the team by himself.
In addition to the Toronto-based group, Golisano and now Congel, other prospective buyers that have been reported to have interest include Buffalo Sabres owner Terry Pegula, Donald Trump as well as Jeffrey Gundlach. The Bills were most recently given a value of $870 million by Forbes.