This article explains the dagger that killed Bon Jovi and Toronto's dreams, and that dagger belongs to Terry Pegula.
The group as constituted with Bon Jovi in the lead probably is limited financially by the amount of cash the rocker can pull together to meet the 30% controlling-owner threshold the NFL demands.
Sources say he is worth close to $500 million. To illustrate his predicament, let’s say the final sale price is $1.2 billion. After the group maxes out the NFL’s financing limit of $200 million, Bon Jovi would alone have to contribute $300 million in cash to meet the 30% principal-ownership threshold — more than 60% of his net worth, an extraordinarily high number in such a sale.
More:
Suck it, Toronto.
The group as constituted with Bon Jovi in the lead probably is limited financially by the amount of cash the rocker can pull together to meet the 30% controlling-owner threshold the NFL demands.
Sources say he is worth close to $500 million. To illustrate his predicament, let’s say the final sale price is $1.2 billion. After the group maxes out the NFL’s financing limit of $200 million, Bon Jovi would alone have to contribute $300 million in cash to meet the 30% principal-ownership threshold — more than 60% of his net worth, an extraordinarily high number in such a sale.
More:
Suck it, Toronto.
Comment