BREAKING: Bills Owner Releases Statement About Selling Stake In Franchise
Lately, the Buffalo Bills have been quite active. As they gear up for the 2024 NFL Draft, they made some significant moves, such as trading receiver Stefon Diggs to the Houston Texans and bringing in journeyman backup quarterback Mitch Trubisky. In addition, the team owners, Terry and Kim Pegula, disclosed their interest in selling a minority share of the franchise.
The Pegulas released a statement through NFL Network’s Ian Rapoport, indicating their intention to explore the sale of a non-controlling stake in the Bills, with Allen & Company assisting in this process. They clarified that discussions are solely focused on the Bills and not any other team. Sources suggest they are looking to sell up to 25% of the 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
Apart from the Bills, the Pegulas own various other sports franchises, including the NHL’s Buffalo Sabres and several lacrosse and hockey teams. They’ve also collaborated with the city of Buffalo on the construction of Highmark Stadium, the future home of the Bills, with the public contributing $850 million toward its $1.4 billion cost.
The Pegulas acquired the Bills in 2014 for $1.4 billion from Mary Wilson, widow of previous owner Ralph Wilson. Since then, the franchise’s value has soared to $3.7 billion, according to Forbes. Under their ownership, the team has shown steady improvement, particularly with the emergence of quarterback Josh Allen and head coach Sean McDermott.