Buffalo Bills owners Terry and Kim Pegula have recently announced their exploration of the possibility of selling a non-controlling, minority interest in the franchise.
In a statement released by the Bills organization, Terry Pegula expressed the family’s decision to retain Allen & Company to explore the potential sale of a minority stake in the Bills. The statement also clarified that any investment would only be feasible with the Pegula family retaining a controlling interest in the team.
“The Pegula family has retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills. These discussions only involve the Bills and no other team. No investment would be possible without Terry Pegula and the Pegula family maintaining a controlling interest in the team,” the statement read.
The proposed sale of the minority stake in the Bills is reported to be approximately 25%, offering potential investors the opportunity to become part of the franchise while ensuring that the Pegula family maintains its controlling interest. Additionally, the sale is strictly limited to the Bills and does not extend to any of the Pegulas’ other holdings, including the Buffalo Sabres.
When did Terry and Kim Pegula own Bills?
Terry Pegula, alongside his wife Kim Pegula, made headlines in 2014 when they purchased the Buffalo Bills for a then-NFL record $1.4 billion. Their acquisition marked a significant milestone in the history of the franchise, as they became the second owners to succeed Pro Football Hall of Famer Ralph C. Wilson, Jr., per Buffalo Bills.
Since then, the Pegulas have overseen the growth and development of the Bills. Last year, Forbes valued the Bills at an impressive $3.7 billion.
Terry Pegula has taken on a more prominent role as the owner of the Buffalo Bills, spearheading key decisions and initiatives. In addition to his ownership of the Buffalo Bills, Terry Pegula also holds ownership of the Buffalo Sabres.
Nevertheless, amid their ownership responsibilities, Kim Pegula has faced health challenges that have impacted her ability to fulfill her duties. Following a cardiac arrest in June 2022, Kim Pegula has been dealing with significant language and memory issues, which have necessitated her stepping back from her active role within the organizations.
