July 25, 2014 08:00:10 GMT
A potential ownership group fronted by the Bon Jovi singer reportedly conducted a feasibility study on some sites in Toronto area to build a new stadium for the NFL team.
A Buffalo Bills prospective owner group led by Jon Bon Jovi has reportedly conducted a feasibility study about building a stadium in Toronto for the team. A source told the Associated Press that the group studied at least three sites, two in Toronto and one in Missisauga.
The source revealed that Bon Jovi and his partners had not publicly revealed details of the purchasing plan. Andy Bergmann, a representative for Bon Jovi's groups, confirmed on Thursday, July 24, that they had undertaken engineering and design studies of several stadiums in Toronto. However, no feasibility studies have been taken, which means they don't plan to build the stadium on a specific site they have explored.
The Bills franchise is for sale following the death of founding owner Ralph Wilson. Under the terms of the Bills lease, the franchise isn't allowed to negotiate with any potential owner who attempts to move the team from Ralph Wilson Stadium in the Buffalo suburb of Orchard Park, New York, before 2019. If a prospective buyer hints about relocating the team before the year, they will be disqualified from owning the team.
Potential buyer Donald Trump has stated that he will not relocate the team if he wins the bid. Bon Jovi's group also said the same thing in the middle of this month.
The Bills were recently valued by Forbes at $870 million. John Vrooman, a professor who specializes in sports economic, projected the Bills to be valued at $950 million- $1 billion in western New York, and about $1.5 billion if they moved to Toronto and even more in Los Angeles.
There are at least 10 groups interested in buying the Bills. Cowboy owner Jerry Jones has expressed his support for Bon Jovi's group, saying, "Jon Bon Jovi is first-class." He continued, "I don't know of anyone that I have more respect for as a father or as a husband or, certainly, as a potential business partner. He's qualified to become an NFL owner."