Report: Bon Jovi Group Resubmits Bid for Bills

August 6, 2014 Updated Aug 6, 2014 at 9:56 PM EDT

By WKBW News

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Report: Bon Jovi Group Resubmits Bid for Bills

August 6, 2014 Updated Aug 6, 2014 at 9:56 PM EDT

BUFFALO (WKBW A report coming in from north of the border now says Bon Jovi and his Toronto-based bidding mates have re-submitted their bid to buy the Buffalo Bills. That report, from John Kryk of the Toronto Sun says that the Toronto group has resubmitted its first round bid, after an original rejection by the investment bank that is handling the sale of the team.

Not much is known about the re-bid as of right now, including how much it might be for, or if it will be acceptable to move to another round of bidding.

Kryk reported last week that Bon Jovi's group, which includes Larry Tanenbaum and the Rogers family had bid low on the team and had not included assurances to keep the Bills in Buffalo. Whether or not that has changed with this latest bid is not known at this time.

Terry and Kim Pegula remain as likely front-runners to buy the Bills with a reported bid of around one-point-three billion dollars for the team. The Toronto group's first bid, according to Kryk's sources, was in the 900 thousand dollar range

It is now up to Morgan Stanley, the investment bank handling the sale of the team, to determine who the finalists are, with final, binding bids to come after that.