Bon Jovi, MLSE livin' on prayers if they envision Toronto Bills before 2020
John Kryk, QMI Agency November 24, 2013
If rocker Jon Bon Jovi ever does wind up leading a group including MLSE that buys the Buffalo Bills, the franchise couldn't relocate to Toronto before 2020.
At least not without coughing up another $400 million. To shoot the entire price tag over $2 billion.
Talk about living on a prayer.
It would cost $400 million to buy the Bills out of their new 10-year lease at Ralph Wilson Stadium in Orchard Park, N.Y.
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Jim Kelly, the team's star quarterback in the late 1980s and early 1990s, is said to be involved with a local group intent on buying the franchise and keeping it in Buffalo.
As NFL commissioner Roger Goodell is a native of Western New York, a local group presumably would be given every chance to keep the team in Buffalo.
Bon Jovi's personal net worth is about $300 million, according to a posting at Forbes.com. He'd have to sink a huge chunk of his fortune into the endeavour, at least if he wanted to become principal owner.
Even if the Bon Jovi/MLSE group were to purchase the Bills after Wilson's death, they'd almost certainly keep the club based in Buffalo through this decade, because of the lease deal.
The Bills signed their reworked lease of Ralph Wilson Stadium last December with Erie County and the state of New York. In exchange for $130 million in stadium upgrades, the county and state insisted on a penalty for breaking the lease before its expiry after the 2022 season -- $400 million worth.
There's an asterisk, however. The club can relocate the team in a brief, one-time window following Year 7 of the lease -- that is, after the 2019 season -- for only a $29-million penalty.