It sounds like the Buffalo Bills could be welcoming some new owners – part owners, at least.
According to Tim Graham of The Athletic, the Pegula family has decided to sell a minority non-controlling stake of the Buffalo Bills franchise.
“The Pegula family has retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills,” the team said Friday in a statement to Graham. “These discussions only involve the Bills and no other team. No investment would be possible without Terry Pegula and the Pegula family maintaining a controlling interest in the team. Their continued commitment to Western New York, the new Highmark Stadium, our fans and the other teams in their portfolio remains unchanged.
“Neither the team nor the Pegula family are able to comment further at this point.”
While the Pegula family did not immediately make it clear how much of the team they were planning to sell, Graham reports that the “working figure is 25 percent, with the number not set in stone.”
Terry and Kim Pegula purchased the team for $1.4 billion in cash back in 2014, which was a record for an NFL team at the time. It’s likely the team is worth far more money now.
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