The Pegula family is considering selling a portion of their ownership in the Buffalo Bills. The team has confirmed that they’ve hired Allen & Company, investment bankers based in Florida, to help with this potential transaction.
According to reports from The Athletic’s Tim Graham, the sale might involve a 25% stake, but this figure isn’t definite.
In a statement to Graham, the team said, “The Pegula family has hired Allen & Company to look into the possibility of selling a minority, non-controlling interest in the Bills.” They emphasized that these discussions are solely about the Bills and no other teams owned by the Pegulas, which include the Buffalo Sabres, Buffalo Bandits, Rochester Knighthawks, and the AHL’s Rochester Americans. The statement clarified that any investment would require Terry Pegula and the Pegula family to retain control of the team. Their commitment to Western New York, Highmark Stadium, fans, and their other teams remains unchanged. However, they’re not able to provide further comments at this time.
Terry and Kim Pegula bought the Bills from Ralph Wilson’s estate in 2014 for $1.4 billion, setting a record for NFL franchise sales at the time. Under their ownership, the Bills have gone from struggling to consistently competitive, largely due to the emergence of star quarterback Josh Allen.
The Bills are currently in the process of constructing a new stadium adjacent to the current Highmark Stadium, scheduled to open in 2026 at an estimated cost of $2 billion.
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