The Pegula family has decided to sell a minority stake in the Buffalo Bills, according to sources. While the exact percentage of the team that will be sold is not yet known, reports suggest it could be around 25%. The family has enlisted Allen & Company to explore potential buyers for the stake. Despite selling part of the team, Terry Pegula and his family will retain control.
The decision to sell a portion of the team comes as NFL teams continue to see their values rise. Forbes estimated the Bills’ value at $3.7 billion in August 2023, significantly higher than the $1.4 billion Terry and Kim Pegula paid in cash to acquire the team in 2014. Recent sales in the league, such as the Commanders going for $6.05 billion, have further highlighted the increasing values of professional football franchises. However, league regulations prohibit owners from selling limited partnership stakes to private equity firms, limiting their options for raising capital.
The construction of a new stadium for the Bills is also a factor in this decision. Initially projected to cost $1.4 billion, the stadium’s expense could climb to nearly $2 billion if there are any overruns beyond state and county contributions. Despite this news, Terry Pegula and his family remain committed to Western New York and their other sports franchises. Further details on this sale are yet to be disclosed.
In conclusion, while there may be concerns about potential estate taxes impacting sole ownership of NFL teams, it seems that Terry Pegula and his family are taking proactive steps to ensure that their legacy endures beyond these challenges.
The decision by Terry Pegula and his family to sell a minority stake in the Buffalo Bills is significant news that has generated much interest among fans of professional football teams worldwide.
While some may worry about potential estate taxes impacting sole ownership of NFL teams, it appears that Terry Pegula and his family are taking proactive steps to mitigate these risks.
In addition to selling part of their stake in the team through Allen & Company, they remain committed to Western New York and their other sports franchises.
As more details on this sale emerge, fans will eagerly await updates on how it unfolds and what it means for both Terence Pegula’s legacy and future prospects for one of America’s most beloved professional football teams.
Fans will undoubtedly be watching closely as more information becomes available on this significant move by Terence Pegula’s family regarding their minority stake in