Buffalo Bills owner Terry Pegula is reportedly looking to sell a minority stake in the team.
According to The Athletic, the Pegulas could end up selling up to 25 percent of the club and the Bills have since gone on to confirm the report:
Pegula family selling portion of Bills ownership stake. Sources tell me 25% is the working number. https://t.co/U49vRDVAcv
— Tim Graham (@ByTimGraham) April 19, 2024
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The team released a statement, saying the following:
“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. ‘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.’
In any sale, the Pegulas would still maintain a controlling interest in the club. The exact percentage that could be sold is not yet set in stone.
According to Forbes, the estimated value of the Bills is $3.7 billion.
Bills Wire will provide future updates as information is made available.
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