The Pegula family has made the decision to put a minority interest in the Buffalo Bills up for sale, as confirmed by the team to Tim Graham of TheAthletic.com. While the exact percentage of the team being offered for sale has not been disclosed, it is rumored to be around 25 percent. The family has hired Allen & Company to explore the potential sale of this non-controlling interest in the team.
In a statement to Graham, the team made it clear that any sale would only involve the Bills and no other team. The Pegula family will still maintain a controlling interest in the team, ensuring their continued commitment to Western New York, Highmark Stadium, fans, and other teams in their portfolio. While Terry Pegula may ultimately choose not to sell part of the Bills, he is currently entertaining offers to become a limited partner due to rising valuations of NFL teams and estate taxes.
According to Forbes, the Bills were valued at $3.7 million in August 2023, significantly more than the $1.4 billion Terry and Kim Pegula paid in 2014 for ownership of the team. The recent sale of the Commanders for $6.05 billion has highlighted the increasing value of NFL teams. However, due to NFL rules prohibiting owners from selling limited partnership stakes to private equity firms, sole ownership remains challenging for many NFL teams.
The new stadium built by the Pegulas was originally estimated at $1.4 billion but may end up closer to $2 billion with costs overruns beyond state and Erie County contributions.
The sale of a minority interest in
