Posted on Apr 19
Buffalo Bills owner Terry Pegula considering minority stake sale, maintains control: Reports
u/alex •
Buffalo, NY -- In a surprising move, Buffalo Bills owner Terry Pegula is considering selling a minority interest in the team, according to a statement released by the organization. The potential sale, however, would not impact the Pegula family's controlling interest in the franchise. The Bills' ownership group also includes the Buffalo Sabres, the Buffalo Bandits, Rochester Knighthawks, and Rochester Americans.
Exploring Options with Allen & Company
To explore this option, the Pegulas have enlisted the services of Allen & Company, a renowned investment banking firm. The involvement of Allen & Company indicates a strategic approach towards finding the right partner for the Bills without relinquishing control of the team. It is emphasized that any new investment would require Terry Pegula and the Pegula family to maintain their position as the primary decision-makers for the franchise.
Maintaining Control of the Team
The statement from the Buffalo Bills organization makes it clear that while they are exploring the possibility of selling a minority stake, the Pegula family intends to retain control of the team. This commitment ensures that the vision and direction of the franchise will continue to be guided by the Pegulas, who have been at the helm since acquiring the Bills in 2014.
Valuation and the Changing Landscape
The potential sale comes at a time when NFL team valuations have skyrocketed. The Pegulas purchased the Bills for $1.4 billion seven years ago, and Forbes now estimates the team's worth at a staggering $3.7 billion. The recent sale of the Washington Commanders for a record-breaking $6.05 billion further highlights the increasing value of NFL franchises.
NFL Ownership Regulations
While the Bills explore the possibility of bringing on a minority investor, the NFL itself is reportedly looking into potential changes regarding team ownership regulations. One potential avenue being explored is the involvement of private equity firms, mirroring the ownership structures seen in other professional leagues such as the NBA, MLB, and NHL. These changes could open up new opportunities for investment and partnership within the NFL.
The Construction of Highmark Stadium
The news of a potential minority stake sale comes amidst the construction of the new Highmark Stadium, the future home of the Buffalo Bills. The project is being funded significantly by public contributions, further solidifying the franchise's commitment to its fans and the city of Buffalo.
Future Developments
As the Bills and the Pegula family navigate this potential shift in ownership structure, all eyes will be on the developments that unfold. For Bills fans and football enthusiasts alike, the focus remains on the team's continued success on the field, as well as the long-term stability and prosperity of the franchise.