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It has nothing to do with the announced departure Thursday of CEO Tim Leiweke from Maple Leaf Sports Entertainment, whose role in the bid has been overstated (most often by Leiweke himself).
eventually relocate the team to Toronto, Tim Graham of the Buffalo News reported Sunday.
And he arranged the partnership between the rocker and Larry Tanenbaum long before founding Buffalo Bills owner Ralph Wilson died on March 25.
Tim Leiweke might be good friends with Jon Bon Jovi.
One source in the position to know even said Leiweke had "absolutely nothing" to do with the Toronto bid.
A source said the Toronto group bowed out of a planned tour of the Bills' stadium in Orchard Park on Wednesday, and has no plans to reschedule it. The tour is a scheduled part of the due diligence process for all finalists, in what Morgan Stanley the investment bank conducting the sale for the trust of founding Bills owner late Ralph Wilson calls the "final phase."
But it has everything to do with (1) the group's limited bidding power with Bon Jovi in the lead, and (2) lingering doubts about whether the trust would sell the club to a group that continues to refuse to commit to keeping the Bills in Western New York long term.
Leaf Sports Entertainment had a minimal role in Bon Jovi's group bidding on the NFL team.
A week ago Tuesday, the group had its first face to face meeting in Manhattan with sale principals: members of the trust, senior executives of the Bills, Morgan Stanley and the trust's legal adviser Proskauer Rose. It was a desultory meeting that further lowered the Toronto trio's hopes.
Right now it is not.
Another source, however, said that both Bon Jovi and Tanenbaum the MLSE chairman and one of Leiweke's bosses probably consulted with the 57 year old executive at various times. But Adidas Neo Cloudfoam City
One source said that, barring a significant development or reformation of the group, the Toronto trio is more likely to disband than submit a binding, definitive bid early next month along with the other finalists.
What's more, Leiweke's boastful claims of possessing close, helpful friendships with influential NFL power brokers did not materialize, sources said.
There are three other known finalists: multi billionaires Terry Pegula, Donald Trump and Tom Golisano.
Their bid has been on the rocks for weeks and no one within the group is optimistic they'll wind up buying the NFL team, according to two sources in the position to know.
Bills bid on 'life support'
The Toronto bid group comprises rocker Bon Jovi (as prospective controlling owner, with about a 30% stake) and his Toronto background investors, each with about 35% shares: MLSE chairman Larry Tanenbaum and Edward Rogers and his family, whose trust runs the Rogers Communications empire.
Sources say the trio are taking the next week or so to assess where their bid is at and to discuss what they could possibly do at this stage to mount a formidable, effective bid.
Leiweke did not have an impactful role within the group, that source said.
LEIWEKE'S ROLE MINIMAL
As constituted, the Toronto group is limited financially by the amount of cash the rocker can pull together to meet the 30% controlling owner threshold that the NFL demands.
Word buzzing around the city since the day he arrived in Toronto in April 2013 is that Leiweke was not shy to boast that his foremost legacy at MLSE would be in bringing the NFL to Toronto.
"Nobody who mattered listened to him," the source said.
Jon Bon Jovi and his Toronto backers are reassessing whether even to continue in their pursuit of the Buffalo Bills, QMI Agency has learned.
As QMI reported Monday, do not interpret Morgan Stanley's match making attempt with Kelly as any expression of favouritism toward the Bon Jovi/Toronto bid.
Otherwise, multiple sources insist the outgoing CEO of Maple Adidas Neo Advantage Review
The banker merely had this hope: to assuage Buffalonians' concerns about the Toronto group's suspected relocation intentions by teaming it with Mr. Bills Can't Move himself, so as to convince other bidders especially Pegula that Adidas Neo High Tops Red the beleaguered group is indeed a viable threat to win the bidding.
Morgan Stanley tried to help in that regard, sources said Monday, in suggesting last week that Bon Jovi approach Bills legend and Hall of Fame quarterback Jim Kelly about joining forces. Kelly and his investment partner, Jeffrey Gundlach, hope to latch on as minority investors with another bid.
Remember, the Toronto group's bid already died once after submitting an uncompetitively low first bid July 29. Even after being allowed to resubmit a higher opening, non binding bid, and being asked to more clearly express a non relocation intention, it wasn't until the Aug. 9 10 weekend that Morgan Stanley allowed the group to enter the sale's final phase.
The group's maximum bid which sources say is somewhere between $1 billion and $1.2 billion isn't nearly enough to compete with Pegula, the cash flush multi billionaire who owns the NHL's Buffalo Sabres. And Bon Jovi, Tanenbaum and Rogers know it.
Kelly and Bon Jovi met, but Kelly rebuffed the rocker's request over concerns his group would Adidas Los Angeles Size 5
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