$6.8 billion worth Terry Pegula, who is Jessica Pegula’s father, set to put roughly 25% of Buffalo Bills up for sale

The Pegulas purchased the Bills in 2014.

$6.8 billion worth Terry Pegula, who is Jessica Pegula’s father, set to put roughly 25% of Buffalo Bills up for sale

Terry and Kim Pegula (via IMAGO)

The Buffalo Bills are likely to see more changes before the commencement of the 2024–25 regular season. This time, the changes will not be related to the team’s roster but will be with respect to the ownership structure. The Pegula family, the owners of the organization since 2014, is considering selling a 25% stake in the team.

Owners Terry Pegula and his wife Kim Pegula have hired Florida-based investment bankers Allen & Company to find a suitable buyer and handle the transaction as per The Athletic. 

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The 25% stake is negotiable and not set in stone as per the source. The Pegulas purchased the Biills for $1.4 billion in 2014, a record figure back then.

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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. Their continued commitment to Western New York, the new Highmark Stadium, our fans, and the other teams in their portfolio remains unchanged.
The team said in a statement

The Buffalo Bills are valued at $3.7 billion as of 2023

The Pegulas will continue to retain the majority stake and will have the autonomy to make decisions. The organization has been controlled by the family for a decade, and it seems the billionaire is now willing to welcome aboard a new partner to aid in the decision-making process. 

Terry Pegula
Terry Pegula (via IMAGO)

The Buffalo Bills remain one of the few NFL teams whose ownership vests with a single entity, in this case, Terry and Kim Pegula.

Forbes valued the organization at $3.7 billion in 2023; owing to expenses such as taxes increasing with the valuation, ownership continues to become an expensive affair. Allen & Company’s relationship with the Pegulas spans back to 2014 when the bankers served as brokers to facilitate their acquisition of the Buffalo Bills. 

They also brokered the 2022 sale of the Denver Broncos, estimated at $4.65 billion, to Rob Walton in 2022. The Buffalo Bills will get a renovated stadium in 2026 after the state agreed to fund $600 million and Erie County funded $250 million towards the project. 

The estimate is $1.4 billion, but it could reach the final figure of $2 billion by the time the project reaches its conclusion. The Pegulas will be responsible for taking on the financial burden of cost overruns on the project, and the state will not fund it any further.

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