The Pegula family purchased the Buffalo Bills in 2014 and began rebuilding the team while also promising to build a state-of-the-art stadium, so many were surprised to learn that the team was up for partial sale.
The Buffalo Bills owners are putting part of the team up for sale.
According to Tim Graham of the Athletic, the owners did not divulge the precise value of the sale, but they created a baseline of 25% and are considering it as a “working figure”.
“The Pegula family has appointed Allen & Company to investigate the prospective sale of a non-controlling, minority interest in the Bills. Discussions are limited to the Bills and no other teams. No investment would be conceivable unless Terry Pegula and the Pegula family retained a controlling stake in the team. Their commitment to Western New York, the new Highmark Stadium, our supporters, and the other teams in their portfolio has not changed.” Graham said this during an interview.
“Neither the team nor the Pegula family can comment further at this point.”, according to Graham, Terry Pegula is selling part of the team since the NFL valuations are at an all-time high and the estate taxes contribute to make things tough for a sole ownership scenario.
According to Forbes, the Bills were valued $3.7 billion in August 2023, after purchasing the franchise for a then-record $1.4 billion in 2014. The Washington Commanders were sold for a stunning $6.05 billion.
The Pegulas’ pledge to build a new stadium in Buffalo remains unchanged; nevertheless, they anticipated a cost of $1.4 billion; however, the stadium is closer to $2 billion, and they will foot the bill for the remainder after contributions from the State of New York and Erie County.
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