The reported $400 million "relocation penalty" to get out of the lease before that window (or after the window, through the 2022 season) is a misnomer.
Another important point: no potential NFL owner or ownership group may borrow more than $200 million to complete the sales transaction. So if the price tag winds up at a billion bucks, a bid group has to plunk down $800 million in cash.
Contacted by QMI Agency at that time, Sunshine would not expand on his comments, meant as anti inflammatory to counter wild public speculation about future Bills ownership while Wilson remained alive.
But a well placed Toronto source, who spoke on condition of anonymity, told QMI Agency that reports from last November, echoed Thursday morning by Bleacher Report, remain accurate. Bon Jovi is the face of a Toronto based group intent on obtaining an NFL franchise, via relocation, and expected to bid for the Bills.
Bon Jovi has "a day job that's doing very well," Sunshine said, in regards to the Hall of Fame rock band that bears his client's surname.
He is a friend not only of two of the NFL's most influential owners New England's Robert Kraft and Dallas' Jerry Jones but also NFL commissioner Roger Goodell, a native of Western New York.
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group expected to bid on Bills
Tanenbaum's net worth in November was listed at $1.18 billion by Canadian Business magazine. Presumably, he would have the cash to be principal owner, but that intention is not known. In any event, other deep pocketed Canadians would need to contribute to the bid group, or perhaps even lead it.
"Jon and I are very good friends," Leiweke told the Star. "We talk weekly about his NFL ambitions. And so we're actively engaged, but I think it's still a work in progress."
Founding Bills owner Ralph C. Wilson Jr. was still alive at that time. But Wilson died two weeks ago, and the Bills last week confirmed the long held belief that Wilson's survivors will sell the team.
Jovi hails from New Jersey.
Previous reports said a contributor might be Edward Rogers III, son of the late Ted Rogers, founder of the Rogers Communications cable, telecom, media and sports empire. Canadian Business pegs the net worth of the Rogers family at $7.6 billion.
his net worth it's hard to see how he could become controlling owner.
MLSE is the Toronto sports powerhouse that owns the city's NHL and NBA teams (Maple Leafs and Raptors) and the arena they play in (Air Canada Centre). It also owns Toronto's MLS team (Toronto FC) and AHL team (Marlies).
Neither MLSE nor Rogers Communications can buy the Bills, as NFL rules prohibit corporate ownership.
"The Bills are not for sale, and (Bon Jovi) has too much respect for Mr. Wilson to engage in any discussions of buying the team," Sunshine said at the time.
"It's preposterous to say he's had any discussions with the Bills and Erie County."
The source said the top executive of Maple Leaf Sports Entertainment, chairman Larry Tanenbaum, remains in league with Bon Jovi.
Sunshine told the Associated Press in November that his client was not pursuing the Bills at that time.
Thus, while Bon Jovi might become the frontman of this Toronto bid group, unless Forbes is mistaken about Converse High Tops Womens Grey
Tim Leiweke, CEO of MLSE, confirmed to the Toronto Star Converse Metallic Silver last November after an initial report by CBS Sports that Bon Jovi was part of a Toronto group seeking an NFL team, with MLSE's backing.
By NFL rules, the controlling stake threshold for NFL ownership is 30%. So if the Bills price tag winds up in the neighbourhood of $1 billion, the singer presumably would have to sell almost everything he owns to come up that kind of cash.
has been "consumed," CBS Sports reported in November, with becoming an NFL owner. Or at least part owner.
With a metropolitan population of more than six million, Toronto is North America's second largest market without an NFL team, after Los Angeles.
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The finances of Bon Jovi's bid group bears attention.
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