The Buffalo Bills have been up for sale since the passing of their original owner, Ralph Wilson Jr., back in March. With potential ownership groups lining up for the team, it is becoming likely the team could sell for more than $1 billion later this year, according to Sal Paolantonio of ESPN.
Bills expected to sell for at least $1.1 billion, per report
With the Bills still up for sale, some news has emerged about the price tag and possible relocation.
Rick Stewart
Without a new stadium on the horizon and the small market of Buffalo to begin with, many have wondered aloud about the team’s potential to move and the worth of the franchise as is. However, Ralph Wilson Stadium is being upgraded with $130 million with a focus on concourses, concession stands, entrance gates and bathrooms along with other projects, per the Rochester Democrat and Chronicle.
In light of this, Paolantonio stated he is confident the team will not leave Buffalo, where it has been located since its inception in 1960 as a charter member of the American Football League.
“I don’t think the team’s moving,” he told WGR 550 on Monday. “I would stake my professional reputation on it. I think people in ownership want to see the team stay here. I think they want to continue the legacy of Ralph Wilson. I think Roger Goodell is convinced.”
One of the men interested in buying the team is rock star Jon Bon Jovi. Bon Jovi has dabbled in football before, becoming a part-owner of the Arena Football Leagus's Philadelphia Soul. While Bon Jovi is part of a group based out of Toronto —- where the Bills have played a "home" game each year since 2008 — there is no intention of moving the team, according to the Toronto Sun.
Last year, Forbes Magazine valued the Bills at $870 million, putting them 30th out of 32 NFL clubs.
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