Multiple ownership groups reportedly submit bids to purchase Bills
At least three ownership groups submitted bids on Monday to purchase the Buffalo Bills, according to an Associated Press report from John Wawrow.
The bids, which were sent to Morgan Stanley to oversee the private bidding process, came from at least three potential ownership parties, including Sabres owners Terry and Kim Pegula; a group led by real estate mogul Donald Trump; and a third group that included rock star Jon Bon Jovi.
Bon Jovi's group had been losing steam in recent weeks over concerns that it has limited bidding power due to the rockstar's finances and there's been some doubt as to whether the group he's involved with would in fact keep the franchise in Buffalo, according to the Toronto Sun.
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The Pegulas are reportedly the front runners. The couple is worth $3.5 billion, have close ties to the community and are said to have the full support of public officials and local business leaders because of their commitment to keep the team in Buffalo.
The other groups that are believed to be interested are not immediately known and it's not certain whether they actually formally filed with Morgan Stanley, according to the AP.
The sale is expected to exceed $1 billion, according to the report.
- Marc Weinreich
