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Buffalo Bills Ownership Up for Sale: Here’s How Much Share Percentage the Team Is Selling
Here's the percentage of Buffalo Bills ownership shares up for sale as the team announces its minority sale to the non-controlling owner.
Buffalo Bills minority ownership is up for sale, as it was announced by the NFL franchise on Friday. The owners, Terry and his wife Kim Pegula, are looking for a minority non-controlling owner for the team, which plays its home games at Highmark Stadium in Orchard Park, New York. Here is how much of the share percentage is up for grabs.
Here’s the Share Percentage of the Ownership Buffalo Bills Is Selling
Although the exact amount of the team to be sold is not disclosed, The Athletic's Tim Graham has revealed that the Pegula family is selling 25% of the franchise and has hired Allen & Company, the Florida-based investment bankers, to look after the transaction.
The franchise statement further stated, “No investment would be possible without Terry Pegula and the Pegula family maintaining a controlling interest in the team.”
Meanwhile, the minority sale is only open for the Buffalo Bills and not for the other franchises they own, like the Buffalo Sabres (NHL), the Rochester Americans (AHL), the Buffalo Bandits, and the Rochester Knighthawks (NLL) of the National Lacrosse League. “These discussions only involve the Bills and no other team.”
The franchise is in the middle of constructing a new stadium near the old one in Orchard Park, which started in June of last year. The team statement read, “Their continued commitment to Western New York, the new Highmark Stadium, our fans, and the other teams in their portfolio remains unchanged.”
The capacity of the current stadium, which opened in 1973 as Rich Stadium, is around 71,608. Before the stadium was named the Highmark Stadium, it was also known as Ralph Wilson Stadium (1998–2015), New Era Field (2016–2019) and Bills Stadium (2020)
Earlier, the potential amount for the stadium was reported to be around $1.4 billion; however, it has now increased to around $2 billion. The Pegula family purchased the NFL franchise back in 2014 for $1.4 billion, and the team was worth $3.7 billion in August 2023, as per Forbes. Meanwhile, the side is currently focusing on eyeing the talents ahead of the upcoming NFL Draft to improve their squad for the season.
ALSO READ: Why did the Bills trade Stefon Diggs to Texans and did Josh Allen know about it?
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