The Buffalo Bills’ owners, the Pegula family, have announced plans to sell a minority ownership in the NFL organization. According to The Athletic, the family intends to sell 25% of the team while maintaining full ownership.
“The Pegula family has retained Allen and Company to explore the potential sale of a non-controlling, minority interest in the Bills,” according to a press release.
The statement further stated that only the Bills are involved in these conversations, and that any investment would require the Pegulas to retain a controlling shareholding. “Their commitment to Western New York, the new Highmark Stadium, our supporters, and the other teams in their portfolio has not changed. The team and the Pegula family are unable to comment further at this time.”
According to the report, owner Terry Pegula may subsequently decide not to sell the minority position. The increasing valuations of NFL franchises, along with estate taxes, have made single ownership difficult, prompting the Pegula family to seek a limited partnership.
Last season was shaping up to be a memorable year for the Buffalo Bills, one of 12 NFL clubs yet to win a Super Bowl. They advanced to the divisional round but were eliminated by the eventual winners, the Kansas City Chiefs, in an unexpected turn of events given that they were the odds-on favourites.
The Chiefs extended their winning streak by defeating the Baltimore Ravens in the AFC Championship and then triumphing against the San Francisco 49ers in Las Vegas at Super Bowl LVIII. As 2024 approaches, Bills standout quarterback Josh Allen is encouraging his team to evolve.
“It’s crazy to imagine that I’m entering my seventh season. Allen commented, “It’s just another opportunity for me to be the guy I’m supposed to be and believe I am.”
The Bills also made a huge move by moving their top wide receiver, Stefon Diggs, to the Houston Texans.
“With this, there is a lot of opportunity for our guys that are in that room right now, as an offence, and really as a team to evolve and grow and become a new version of the Buffalo Bills and to come together as a team over the course of OTAs,” he said.
With Diggs gone, players like as Khalil Shakir and rookie Curtis Samuel must step up. “Bringing in Curtis Samuel and the various things he can perform. “Pairing him with Khalil, who came along last year, especially in the second half of the season,” noted an enthusiastic Allen.
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