Buffalo Bills owner Terry Pegula explores selling non-controlling, minority stake in franchise
Buffalo Bills owners Terry and Kim Pegula are exploring the possibility of selling a non-controlling, minority interest in the franchise, the team announced
ORCHARD PARK, N.Y. (AP) — Buffalo Bills owners Terry and Kim Pegula are exploring the possibility of selling a non-controlling, minority interest in the franchise, the team announced on Friday.
A person with knowledge of the decision told The Associated Press the stake in the team the Pegulas would be preparing to sell would be about 25%. The person spoke on condition of anonymity because that detail was not announced by the team. It was first reported by The Athletic.
The Bills announced the Pegulas have hired Allen & Company to oversee the process, while stressing no sale would take place without the Pegulas maintaining a controlling interest in the franchise.
The Bills also announced the sale is limited only to the Bills, and not any of the Pegulas’ other holdings, which include the NHL Buffalo Sabres, the American Hockey League Rochester Americans and National Lacrosse League franchises in Buffalo and Rochester.
