Bon Jovi’s individual attempt to buy the Bills hasn’t gone too well, so he’s now considering teaming up with a former Buffalo QB to increase his chances of landing the winning bid for the team.
Bon Jovi and his group of Toronto-based investors reportedly reached out to HOF QB Jim Kelly within the past five days to discuss joining forces for a potential collective bid, according to The Buffalo News’ Tim Graham. And the report states that Kelly has at least considered the possibility.
As far as terms go, Jim and his brother, Dan, reportedly want two percent equity in the team. They’re also seeking lifetime jobs, a cash payment up front for their services and final say on all football decisions.
The Kellys have met with other ownership groups but haven’t been able to strike a bidding partnership. They were previously partnered up with bond investor Jeffrey Gundlach, but could not accumulate enough money to be a bidder. It’s unclear if Gundlach would still be involved if the Kellys joined forces with Bon Jovi.
This potential move makes sense on paper and could benefit both parties. The Kellys don’t have enough money to make a bid on their own, but they do come from football backgrounds and could also help draw support from fans—an area Bon Jovi has struggled immensely in.
Still, it’s an interesting turn of events—given the circumstances.
Jim Kelly is probably the most beloved man in Buffalo. Jon Bon Jovi — at least right now — is the most hated. Would be quite the pairing.
— Mike Rodak (@mikerodak) August 16, 2014
At the current time, it seems as if Buffalo Sabres owner Terry Pegula is the front-runner to buy the team. He has a reported net worth of $3.3 billion and would likely keep the franchise in Western New York. Bon Jovi, on the other hand—along with his Toronto-based investors—does not come with the same guarantee.
It may be a last-ditch effort by both parties, but teaming up would seemingly benefit both sides and could produce a stronger bid than if the two went in alone or with other ownership groups.