Former NBA stars Carter and McGrady are part of a group looking to purchase a stake in the Buffalo Bills

Vince Carter and Tracy McGrady Join Group Aiming to Purchase Stake in Buffalo Bills

Former NBA stars Vince Carter and Tracy McGrady are reportedly part of a group that is exploring the possibility of acquiring a minority stake in the Buffalo Bills.

According to sources familiar with the NFL’s financial review process, the group’s bid is set to be discussed at an upcoming NFL meeting.

Although the league has yet to release the official agenda, the proposal is expected to be reviewed alongside other ownership discussions, including Ares Management’s offer to purchase a 10% share in the Miami Dolphins.

While details remain under wraps, the NFL’s finance committee is anticipated to give the green light to discussions surrounding potential investors like Carter and McGrady.

The Buffalo Bills have not officially confirmed any potential investors at this stage. In a statement, the team indicated that the process is still in its early phases and any transactions are subject to approval from the NFL.

Carter and McGrady are joining forces with Tom Burger, managing partner of Gridiron Capital, in a bid to purchase 10.6% of the Bills.

As part of the deal, Gridiron Capital would hold about 1.4% of the team’s equity. Additionally, the investment group Arctos Partners is expected to acquire a separate 10% stake.

The Pegula family, which currently owns the Bills, would maintain a controlling share of over 79%.

This move comes as the Pegulas have been exploring the sale of a minority stake in the team, as reported earlier this year.

The idea of selling a portion of the team aligns with the increasing market value of the Buffalo Bills.

Forbes recently estimated the team’s worth at a staggering $4.2 billion, a notable increase from the $1.4 billion the Pegulas paid when they purchased the Bills in 2014.

The rising value is further compounded by the ongoing construction of a new $2.1 billion stadium, with the Pegulas shouldering the majority of the costs, including an estimated $560 million in construction overruns.

Despite the growing financial commitments surrounding the team’s new stadium, Bills president Pete Guelli clarified that the sale of a minority stake is not directly linked to the stadium’s construction expenses.

This reassurance is likely aimed at quelling any concerns that the Pegulas’ financial decisions regarding the stadium could impact the team’s ownership structure or the Bills’ long-term strategy.