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The Buffalo Bills have retained investment bank Morgan Stanley and law firm Proskauer Rose to serve as financial and legal advisers, respectively, in the team's upcoming sale.
The two firms will form the Bills' "transaction team" and are expected to contact prospective buyers within the next 30 days, the Bills said in a statement Wednesday.
Among the potential bidders for the franchise is rock star Jon Bon Jovi, who received strong support from Dallas Cowboys owner Jerry Jones earlier this week.
"You talk about individuals and talk about their qualification -- there hasn't been anybody more qualified to be involved in sports ownership, or certainly ownership in the NFL, than Jon Bon Jovi," Jones told reporters at the NFL's spring owners meetings in Atlanta.
According to the Toronto Sun, Bon Jovi has joined Larry Tanenbaum of Maple Leaf Sports & Entertainment, the owners of the NHL's Toronto Maple Leafs and the NBA's Toronto Raptors, to form a group that is expected to bid on the Bills.
The intention of the Toronto-based group could be to move the Bills to the Canadian city -- about a 90-minute drive from Buffalo -- which has sparked a Bills fan group, "12 Man Thunder," to distribute posters to local bars declaring them free of Bon Jovi's music.
Billionaire businessman Donald Trump has also expressed his interest in purchasing the team and keeping it in the region. Outside of celebrities like Trump and Bon Jovi, there could be several other groups -- both local and from outside of the region -- who make bids for the Bills this summer.
Following the death of owner Ralph Wilson in March, his widow Mary Wilson has served as controlling owner of the team.