Report: Big Price Tag on Bills, Insider Expects Bon Jovi to Pay
Pittsford, NY (WBEN) - While some recent figures have placed the value of the Buffalo Bills below $1 Billion, conventional wisdom has said a new owner would likely spend big to become the owner of an NFL franchise.
A new report today confirms that thinking. ESPN's Sal Paolantonio reports Monday morning that a league source expects the Bills to sell for at least $1.1 Billion.
"I think whoever the owner is going to be is going to be the highest bidder," Paolantonio said on WGR 550 Monday morning. "I think this team is going to be sold for over $1 Billion, which is probably 25 percent more than what Forbes estimated their value at."
Who is willing to pay that money for an NFL team? Paolantonio has an idea that's not likely to be welcome news for fans. "I think the Bon Jovi group is the most serious group. I think they have the most money."
Even with recent reports of Bon Jovi's Toronto group preparing a bid, Paolantonio seemed confident the team would stay in Western New York. "The team's not moving to Toronto, it's not going to happen. They're not moving out of Buffalo, I don't care who the ownership is. I don't think Roger Goodell's going to let it happen, I don't think Andrew Cuomo's going to let it happen."
"People in ownership want to see the team stay (in Buffalo). I think they want to continue the legacy of Ralph Wilson."
Paolantonio referenced the Bills' current stadium lease as one of the reasons fans shouldn't be too concerned right now, though he did mention that a stadium would be a major topic going forward.
"Can the new ownership, if they pay over $1 Billion, can they sustain the business model in the stadium that's now being renovated to the tune of $130 Million or do they have to build a new stadium, and how does that get built?"
Paolantonio also dismissed Donald Trump as "not serious" about buying the team, and talked about an sometimes forgotten aspect of the team - how the Bills look on the field.