Atlanta Falcons owner Arthur Blank has engaged in confidential negotiations with Jon Bon Jovi regarding the rock star's possible purchase of an estimated 15 percent of the team for $150 million, ESPN reported Sunday, citing league sources.
Both sides signed a confidentiality agreement to refrain from discussing the negotiations, according to ESPN. Blank, who acknowledged the talks Sunday morning, downplayed them as "discussions that are unlikely" to result in a deal with Bon Jovi.
Blank has opened the door to the possibility of minority partners to generate cash toward his plans to build a new outdoor stadium.
Bon Jovi is no stranger to professional football, having served as an owner of the Arena Football League's Philadelphia Soul from 2004 to 2009.
A league source told ESPN that the financials are based on a $1 billion valuation of team, with each percentage point valued at $10 million.
