11:02pm: Sources tell Tim Graham of the Buffalo News (via Twitter) that the group is “falling apart,” and that a cabal involving just Tanenbaum and the Rogers family is unlikely to be successful.
10:10pm: Jon Bon Jovi is no longer a part of the Toronto-based group vying for the Bills franchise, report Josh Kosman and Lois Weiss of the New York Post. Larry Tanenbaum, chairman of Maple Lead Sports and Entertainment, and the Rogers family, were apparently concerned about Bon Jovi’s lack of funds (relative to other bidders).
As the leader of the bidding group, Bon Jovi was responsible for thirty percent of the party’s total bid. Because the rocker is worth approximately $300MM, the group’s offer would have been capped at roughly $1.1 billion — this would fall in line with the numbers we heard last week. While reports have differed, Buffalo Sabres owner Terry Pegula might have bid up to $1.3 billion, leaving the Toronto group’s figure well short.
Per Kosman and Weiss, the Rogers family is “very serious” about winning the Buffalo franchise. Sources tell the duo that while reports paint the bidding group as fragmenting, it is in fact “reforming,” as evidenced by the removal of Bon Jovi. Final offers for the Bills are due on September 9. Donald Trump and former Sabres owner Tom Golisano are among the remaining contenders for the team.