The Buffalo Bills have had a hectic few weeks.
As the team prepares for the 2024 NFL Draft, it has traded receiver Stefon Diggs to the Houston Texans and signed itinerant backup quarterback Mitch Trubisky, among other moves.
Then, on Saturday, team owners Terry and Kim Pegula stated that they are looking to sell a minority position in the club.
Ian Rapoport of NFL Network tweeted a statement published by the Pegulas on his Twitter account.
“The Pegula family has retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills,” according to a portion of the press release. “These discussions only involve the Bills and no other team.”
A statement from #Bills owner Terry Pegula on exploring selling non-controlling, minority stake in the franchise pic.twitter.com/KHR2bJbtvD
— Ian Rapoport (@RapSheet) April 20, 2024
According to multiple accounts, the Pegulas only want to sell up to 25% of the Bills.
The pair also owns various other sports organizations, such as the NHL’s Buffalo Sabres, the National Lacrosse League’s Buffalo Bandits and Rochester Knighthawks, and the AHL’s Rochester Americans.
In addition, the Pegulas collaborated with the city of Buffalo to begin construction on Highmark Stadium, which will serve as the Bills’ future home once completed.
The public contributed an amazing $850 million toward the project’s $1.4 billion cost, with the Pegulas financing the remainder.
Mary Wilson, the widow of former Bills owner Ralph Wilson, sold the team to the Pegulas for $1.4 billion in 2014.
According to Forbes, the franchise is currently worth $3.7 billion.
Since becoming owners, the Pegulas have witnessed the team grow steadily under quarterback Josh Allen and head coach Sean McDermott.
Leave a Reply