NBA Hall of Famers Vince Carter and Tracy McGrady were among the 10 noncontrolling minority owners that were added to the Buffalo Bills ownership group in a vote approved at the NFL league meetings in Dallas on Wednesday.
Buffalo Bills brought in noncontrolling minority owners for the first time in their 65-year history
According to ESPN’s Alaina Getzenberg, the limited partners added by the Bills mark the first time in franchise history the team has brought in minority owners. Among the minority owners added is Arctos, a private investment firm.
In August, NFL owners approved a measure to allow private equity firms to purchase a maximum of 10% stake in NFL teams. During the meeting, both the Philadelphia Eagles and Miami Dolphins also had minority noncontrolling ownership additions approved.
Furthermore, the Dolphins added a private-equity firm to the team’s ownership, Ares, making the AFC East rivals the first teams to do so in NFL history.
We’re proud to confirm the addition of 10 limited partners to our ownership group for the first time in franchise history!
Welcome to the family: https://t.co/6w8o14HNMq pic.twitter.com/rfH0d27wL2
— Buffalo Bills (@BuffaloBills) December 11, 2024
Additionally, the Eagles received NFL approval for the sale of an 8% interest of the team to two family investors, per ESPN’s Adam Schefter. The sale was based on a valuation of the team up to $8.3 billion, and Lurie maintains complete control of the team.
“This has been an incredible journey to add such an impressive and diverse group of limited partners along with a reputable private equity partner in Arctos that has an extensive track record of success with professional sports franchises,” Bills owner/CEO Terry Pegula said in a statement.
NBA legends Vince Carter, Tracy McGrady join a list of owners that includes MLS champion Jozy Altidore
NBA icons Carter and McGrady join a list of owners that also includes Jozy Altidore, a former U.S. National Team soccer player and MLS champion with Toronto FC.
“It’s a huge honor to join this historic Bills organization,” Carter said in a statement. “I’m truly thankful the Pegula family has given me the opportunity to help the franchise continue to grow and thrive in player growth, community service and of course winning the Lombardi trophy. See you soon Bills Mafia!!!!”
Carter and McGrady were teammates with the NBA’s Toronto Raptors in the early 2000s. The Bills were the unofficial team of Toronto when they played a series of home games at Rogers Centre from 2008 through 2012.
In December 2014, the Bills terminated the four remaining years of their contract agreement with Rogers Communications, doing away with their annual regular-season home games played in Toronto.
