Multiple reports surfaced late Friday that the New Jersey rock star and a Toronto-based group bidding to buy the NFL franchise have parted ways.
Bon Jovi was heading up the bid that included Maple Leaf Sports and Entertainment chairman Larry Tanenbaum and Rogers Communications chairman Edward Rogers.
Rogers is said to be "very serious" about buying the team, and speculation is he and Tanenbaum figure future pitches will be stronger without Bon Jovi.
Bon Jovi reportedly would have been the principal owner at 30 per cent. But his estimated personal net worth of $300 million would have meant a maximum bid of $1.1 billion US, which falls short of other rumoured bids.
Buffalo Sabres owners Terry and Kim Pegula, the supposed front-runners with an estimated net worth of $3.3 billion, initially bid $1.2 billion, according to reports.
Real-estate tycoon Donald Trump is also bidding to buy the Bills.
The New York Post indicated that Morgan Stanley, the firm overseeing the sale on behalf of late owner Ralph Wilson's estate, is seeking new backers to join Bon Jovi.