The group -- which also includes Maple Leaf Sports & Entertainment chairman Larry Tanenbaum and the Toronto-based Rogers family -- is reportedly scheduled to meet with the sellers on Tuesday. Already, Donald Trump and Buffalo Sabres owner Terry Pegula have been named as finalists, as well.
Reportedly, Pegula's non-binding bid was in the $1.3 billion neighborhood, while Trump offered about $1 billion. It was thought the Bon Jovi group's original bid was less than $900 million.
Here's what to expect now, according to reporter John Kryk: "Finalists soon will be asked to submit binding bids, probably before month's end. The trust and transaction team then will select a preferred buyer and begin purchase negotiations, if this sale follows the usual trajectory. The seller can amend the sale process at any time."
Though fans have been wary about Bon Jovi's intentions -- there were reports earlier this summer that the group was scouting out potential stadium spots in Toronto, even though the Bills are tied to a stadium lease in Buffalo through at least 2019 -- but he tried to assuage their fears in a recent letter to the Buffalo News.
Wrote Bon Jovi: "My family and I are prepared to make this life-changing commitment to be part of the Bills. This is not a hobby or an acquisition. Building a winner on and off the field will be job one and I intend to spend as much time on the ground in Buffalo as needed to accomplish that goal ... Our objective is simple: to carry on the legacy of Ralph Wilson and make the Bills successful in Buffalo.”
With this latest news, though, I imagine Andre Reed is somewhere close by gnashing his teeth in anger.