According to a statement from the Buffalo Bills Friday, team owner Terry Pegula is looking into a potential sale of a minority interest, while emphasizing that no new investment would involve changing the Pegula family’s controlling interest.
The team said in its statement that investment bank Allen & Company has been retained to explore the potential sale of a non-controlling, minority interest in the Bills. The team emphasized that these discussions only involve the Bills and no other team, and that no investment would be possible without Terry Pegula and the Pegula family maintaining a controlling interest in the team.
The Pegulas, who also own the Buffalo Sabres, the National Lacrosse League’s Buffalo Bandits and Rochester Knighthawks, and the American Hockey League’s Rochester Americans purchased the Bills in 2014 for $1.4 billion. The Bills are reportedly now worth $3.7 billion.
The Bills are amid construction on new Highmark Stadium, which is being built across the street from their current stadium in Orchard Park. The stadium, which was initially expected to cost $1.4 billion, received a then-historic $850 million in public funding, with the Pegulas handling all additional costs.
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