Toronto Ont.--Toronto Sun reporter John Kryk says today that the John Bon Jovi/Toronto group seeking to buy the Buffalo Bills has been allowed a first-bid do-over. Kryk says the Toronto trio was expected today to resubmit a higher, non-binding initial bid for the Bills - probably between $1 billion and $1.1 billion.
The group also has been asked to submit greater assurances it plans to keep the Bills long-term in the Buffalo area.
Sources have told Sun Media the Bon Jovi/Toronto group’s first bid actually was rejected last week by Morgan Stanley, the investment bank conducting the sale of the NFL club for the trust of Ralph Wilson Until or unless they resubmit, they are out.
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