In recent weeks, the Buffalo Bills have been busy.
As the franchise prepares for the 2024 NFL Draft, they traded receiver Stefon Diggs to the Houston Texans and signed nomadic backup quarterback Mitch Trubisky, among other moves.
Then, on Saturday, team owners Terry and Kim Pegula announced they are interested in selling a minority stake in the club.
NFL Network’s Ian Rapoport shared a statement released by the Pegulas on his Twitter account.
“The Pegula family has retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills,” read part of the statement. “These discussions only involve the Bills and no other 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
According to numerous sources, the Pegulas are only interested in selling up to 25% of the Bills.
The couple also owns several other sports franchises including the NHL’s Buffalo Sabres, the Buffalo Bandits and Rochester Knighthawks of the National Lacrosse League, and the Rochester Americans of the American Hockey League.
Additionally, the Pegulas worked with the city of Buffalo to begin work on Highmark Stadium, which will become the new home of the Bills when it is completed.
To finance the project, the public helped fund an incredible $850 million toward the $1.4 billion price tag with the Pegulas covering the rest.
The Pegulas bought the Bills in 2014 for $1.4 billion from Mary Wilson, the widow of longtime owner Ralph Wilson.
According to Forbes, the franchise is now worth $3.7 billion.
Since becoming owners, the Pegulas have seen the team steadily improve with quarterback Josh Allen and head coach Sean McDermott.
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