Toronto-based group won’t bid on Buffalo Bills
By Cory Buck
Buffalo Bills fans who were worried about a permanent move north for their beloved NFL team got two doses of good news in a 24-hour span. First, there was the Ron Jaworski interview in which he assured Bills fans that Bon Jovi wouldn’t move the team if he won the bid. Now, John Kryk of the Toronto Sun reports that Edward Rogers III won’t lead another group aimed at buying the Bills.
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Kryk writes about the situation:
"Rogers had mulled the idea of leading his own group following the death of founding Bills owner Ralph Wilson on March 25, but in June he chose not to proceed, QMI Agency has been reliably informed.It is not known whether the 45-year-old Rogers — son of the late Ted Rogers, who founded Rogers Communications Inc. — might yet wind up as one of the minority investors under Bon Jovi and Tanenbaum."
The Rogers family is worth around $7.6 billion per the article so it’s hard to believe this was a money move, but Kryk suggests it might be just that. Anyone bidding on an NFL team can only fund about $200 million of the sale. The rest must be cash.
Given that the Bills are projected to sell for more than $1 billion, that’s a tough prospect for one with ultra-deep pockets. If Rogers wants to be a part of the NFL, it appears he’ll do so as a minority shareholder, if he does it at all.