In a historic first for the franchise, the Buffalo Bills have added 10 noncontrolling minority owners to their ownership group, a decision approved during the NFL league meetings in Dallas. Among the new partners are Basketball Hall of Famers Vince Carter and Tracy McGrady, former Toronto Raptors teammates, and private investment firm Arctos.
Expanding the Ownership Group
Bills owner and CEO Terry Pegula explained that the inclusion of minority owners brings fresh perspectives and opportunities for growth. Many of the new investors are lifelong Bills fans, while others, like Carter and McGrady, bring strong ties to the Toronto market—a key area for expansion.
“The three pro athletes, they’re all icons in Toronto,” Pegula said. “That’s our market. We’re going to grow our Toronto market, and they know that. I’ve asked them about it. They’re willing to help.”
Jozy Altidore, a former U.S. National Team soccer player and MLS champion, also joined the ownership group.
Carter expressed his excitement in a statement, saying, “It’s a huge honor to join this historic Bills organization… See you soon, Bills Mafia!”
NFL Policy Changes and Trends
The NFL’s recent policy update, allowing private equity firms to own up to a 10% stake in teams, has opened new opportunities for investment. Arctos became one of the first private equity firms to take advantage of this rule, joining the Bills’ ownership.
The Philadelphia Eagles and Miami Dolphins also announced minority ownership changes at the same meeting. The Dolphins partnered with private equity firm Ares, making them and the Bills the first NFL teams to include private equity firms in their ownership.
Female Representation and Family Involvement
Pegula highlighted the addition of two female investors to the Bills’ ownership, emphasizing the importance of diverse voices in leadership. This step comes after Pegula’s wife, Kim Pegula, suffered a health setback in 2022, limiting her involvement with the team.
“I’ve got three daughters that are involved in the team,” Pegula said, expressing hope that they would take on greater roles in the future.
Stadium Challenges
Pegula also addressed the team’s new stadium, which is over budget at $2.1 billion due to inflation and supply chain issues but remains on schedule to open in 2026. Ownership will cover any cost overruns beyond the $850 million in public funding.
A New Era for the Bills
By welcoming a diverse group of investors, the Bills aim to grow their brand, strengthen ties to key markets like Toronto, and ensure the team’s long-term success. With notable names like Vince Carter and Tracy McGrady joining the ownership, the future looks bright for the franchise both on and off the field.
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