On a day of game-changing, "weirdo world" developments in the Buffalo Bills sale, the Toronto group was asked yet again to clarify its non-relocation intentions, QMI Agency has learned. By the end of business on Thursday, the bidder still had not been invited to the final phase of the sale, a source said. Comprising rocker Jon Bon Jovi, MLSE chairman Larry Tanenbaum and the Rogers family, the group on Tuesday had resubmitted its first-round, non-binding bid for the NFL club. Morgan Stanley, the investment bank conducting the sale of the Bills for the trust of the late Ralph Wilson, last week had rejected the trio's initial non-binding bid, because it was uncompetitively low, sources said -- perhaps less than $900 million. As well, too much doubt existed within the trust, Morgan Stanley and the sale's law firm, Proskauer Rose, regarding the Toronto trio's newly adopted intention to keep the NFL team in Western New York. In inviting the Toronto group to resubmit, the trust and its transaction team asked the trio to provide greater assurances that it plans to keep the Bills long-term in the Buffalo area, a source said.
Toronto Bills group asked yet again to clarify non-relocation intentions
Toronto Sun | Aug 9