{"id":19507,"date":"2024-11-28T20:23:15","date_gmt":"2024-11-28T20:23:15","guid":{"rendered":"https:\/\/gpt.m2mbeta.com\/?p=19507"},"modified":"2024-11-28T20:23:15","modified_gmt":"2024-11-28T20:23:15","slug":"bills-nearing-sale-of-minority-stakes","status":"publish","type":"post","link":"https:\/\/gpt.m2mbeta.com\/?p=19507","title":{"rendered":"Bills Nearing Sale Of Minority Stakes"},"content":{"rendered":"
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Multiple teams around the NFL have either worked out agreements to sell non-controlling shares in their organizations or have at least looked into doing so. The Bills are in position to divest in the near future. \"\"<\/a><\/p>\n

Deals are in place with a group of new would-be shareholders totaling 10.7% of the Bills, Ben Fisher of the Sports Business Journal reports<\/a>. That collection of individuals is set to be joined by Arctos Partners, which will take on a 10% stake. The agreements could receive ratification as early as next month\u2019s league meeting.<\/p>\n

As Fisher notes, the group which is on track to acquire minority stakes includes\u00a0Rob Palumbo\u00a0<\/strong>(5.6% share), Theresia Gouw\u00a0<\/strong>(2%),\u00a0Sue McCollum\u00a0<\/strong>(1.7%), and Tom Burger\u00a0<\/strong>(1.4%). All have a business background from various sectors, and Burger\u2019s group of investors includes NBA Hall of Famers\u00a0Vince Carter\u00a0<\/strong>and\u00a0Tracy McGrady\u00a0<\/strong>along with former Toronto FC player\u00a0Jozy Altidore<\/strong>. Approval from at least 24 of the league\u2019s 32 owners will be required for their respective purchases to go through.<\/p>\n

\u201cEarlier this year, the Pegula family retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills,\u201d\u00a0<\/em>a team statement reads.\u00a0\u201cSince then, there has been a significant amount of interest, and our focus has been on finding the right partners for our organization. The process is ongoing, and any potential investor cannot be confirmed or finalized until it is approved by the NFL.\u201d<\/em><\/p>\n

Per Fisher\u2019s report, financial terms \u2013 which will be tied to the Bills\u2019 valuation \u2013 are not known. Provided the sales go through in the near future, majority owner\u00a0Terry Pegula <\/strong>will be left with a stake of roughly 79% of the franchise he purchased in 2014. The 73-year-old will maintain control over the organization moving forward, but he could soon have a number of new partners.<\/p>\n<\/p><\/div>\n