Buffalo Bills owner Terry Pegula is reportedly set to sell a roughly 20% minority stake in the team, according to recent reports. A group of business executives is poised to purchase about 10.6% of the franchise, with private equity firm Arctos Partners expected to acquire a 10% stake if the NFL approves the transaction. The Bills, valued at approximately $5 billion by Sportico, are exploring potential partnerships with multiple limited partners as Pegula seeks to sell up to 25% of the team.
The increase in the estimated cost for the new $2.1 billion Bills stadium is a likely motivation behind the sale. Pegula has hired Allen & Co. to explore options for selling a non-controlling stake, emphasizing their commitment to finding suitable partners. Among the potential investors are notable figures like Rob Palumbo of Accel-KKR, Theresia Gouw of Acrew Capital, and Sue McCollum of Eagle Brand Sales. Additionally, a group featuring former athletes Vince Carter, Tracy McGrady, and Jozy Altidore, led by Tom Burger of Gridiron Capital, is reportedly interested.
Arctos Partners, already approved by the NFL for potential team investments, has stakes in multiple major league teams and is actively involved in professional sports. The NFL recently approved private equity investments in franchises, broadening the pool of potential investors. This change could support Pegula’s effort to find strategic partners and address rising stadium costs while maintaining a strong focus on the Bills’ success and community commitment.
Leave a Reply