NBA Hall of Famers Vince Carter and Tracy McGrady have joined the Buffalo Bills’ ownership group along with eight other limited partners, including former U.S. Men’s National Team soccer player Jozy Altidore. This marks the first time in franchise history that minority owners have been added, with the Pegula family still retaining 79% control of the team.
The addition of new limited partners, pending final agreements, includes private investment firm Arctos and individuals with experience in venture capital and investment banking. The NFL approved a measure earlier this year allowing investments from private equity funds, leading to the expansion of ownership in multiple franchises.
The Pegulas expressed excitement over the diverse group of limited partners and the reputable private equity partner, Arctos, highlighting their success in professional sports. The additions have personal attachments to the team and the region, making them valuable assets to the future of the Buffalo Bills.
This move comes amid a trend in professional sports ownership, with other teams also finalizing the addition of limited partners, including seven-time Super Bowl champion Tom Brady, who recently purchased a minority stake in the Las Vegas Raiders. The NFL’s ownership rules have become less restrictive, allowing for a more diverse and inclusive ownership structure.
Overall, the Buffalo Bills’ new limited partners bring a wealth of experience and success in their respective industries, signaling a promising future for the team and the NFL.
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