Buffalo Bills' ownership group has expanded with the addition of 10 limited partners, including basketball legends Vince Carter and Tracy McGrady. This marks the first time in the franchise's history that minority owners have been brought on board. The NFL team owners approved these noncontrolling, minority interests during the league's winter meetings.
Earlier this year, the NFL passed a measure allowing investments in franchises by private equity funds, easing the league's historically stringent ownership rules. The Miami Dolphins and Philadelphia Eagles also saw approvals for minority, noncontrolling interest sales.
The Bills were purchased for $1.4 billion in 2014 by Terry and Kim Pegula from the estate of late Hall of Fame owner Ralph Wilson. The team is currently valued at $4.2 billion, with the Pegulas retaining 79% control. Former U.S. National Team soccer player Jozy Altidore is among the new limited partners.
Additional limited partners include private investment firm Arctos, individuals from various business sectors such as venture capital, banking, and beverage distribution. Bills owner Terry Pegula expressed enthusiasm about the diverse expertise the new partners bring, highlighting the importance of collaboration and the inclusion of successful women in the ownership group.
Kim Pegula, who is currently recovering from a cardiac arrest, remains an influential figure in the team's operations. In a similar move, Dolphins owner Stephen Ross announced an investment deal with Ares Management funds and Brooklyn Nets owners Joe Tsai and Oliver Weisberg, while Eagles owner Jeffrey Lurie received approval for the sale of an 8% interest in the team to family investment groups.
Notably, seven-time Super Bowl champion Tom Brady recently acquired a minority stake in the Las Vegas Raiders. These developments reflect a trend of diversification and expansion within NFL ownership groups, signaling a new era of collaboration and growth in the league.
