Buffalo, N.Y. (WBEN) - It appears there may be a group of investors potentially looking into purchasing a non-controlling, minority interest in the Buffalo Bills.
According to a report from Sportico on Tuesday, a group consisting of three former Toronto professional sports athletes are in talks to buy a minority stake in the Bills. That group consists of former NBA stars Vince Carter and Tracy McGrady, as well as former U.S. Soccer and Toronto FC star Jozy Altidore.
The report adds that nothing has been signed as of yet, and it is still possible the investments do not happen.
Carter and McGrady were recently in Western New York a few weeks ago to take in the Bills' matchup with the Jacksonville Jaguars back on Sept. 23 at Highmark Stadium in Orchard Park.
Back in April, the Buffalo Bills announced that owners Terry and Kim Pegula were exploring the possibility of selling a non-controlling, minority interest in the franchise. The Pegulas had hired Florida-based investment bankers Allen & Company to handle the potential transaction, with Tim Graham of The Athletic reporting the working figure of the stake was 25%, though, the number was not set in stone at the time.
A couple months ago in August, Sports Business Journal reported the NFL was looking to ensure the sale of a minority portion of the Bills in a private equity deal before 2024 comes to a close. Most around the league expected this matter to be addressed at the regular owners' meeting set for Oct. 15-16 in Atlanta.
The Bills issued the following statement to WBEN regarding Sportico's report on Wednesday:
“Earlier this year, the Pegula family retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills. Since then, there has been a significant amount of interest, and our focus has been on finding the right partners for our organization. The process is on-going, and any potential investor cannot be confirmed or finalized until it is approved by the NFL.
“The Pegula family’s continued commitment to our fans across this region and beyond, Western New York, and the new Highmark Stadium remains unchanged. Neither the team nor the Pegula family can comment any further at this point.”
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