General News

Jon Bon Jovi cut from group bidding for Buffalo Bills - report

By:
Sep 01, 2014 | 12:56pm EDT

Rocker Jon Bon Jovi has reportedly been cut from a group of investors looking to purchase American football team the Buffalo Bills. The Livin' on a Prayer hitmaker was part of a Canadian organisation that had submitted paperwork in July (14) expressing an interest in buying the Bills, which was put up for sale following the death of longtime owner Ralph Wilson in March (14). However, the Bon Jovi frontman has since parted ways with the Toronto-based investors because as a principal owner, he would be responsible for covering 30 per cent of the winning bid, and with a net worth of $300 million (£176.5 million), the group's highest bid would be capped at $1.1 billion - not enough to beat a rival's offer of $1.2 billion, according to the New York Post. The remaining bidders in the group, Larry Tanenbaum, chairman of Maple Leaf Sports & Entertainment, which controls ice hockey's Toronto Maple Leafs and the basketball world's Toronto Raptors, and Edward Rogers, chairman of Rogers Communications, are still looking to purchase the team.

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