Posted on: October 16, 2024, 02:05h.
Last updated on: October 16, 2024, 02:14h.
Three former pro athletes who found fame and fortune playing for Toronto-based teams are negotiating to take a minority ownership stake in the NFL’s Buffalo Bills.
Former Toronto Raptors’ Vince Carter and Tracy McGrady, and Joze Altidore, formerly of Major League Soccer’s Toronto FC, all have an interest and are negotiating with the Pegula family, owners of the Bills and the NHL’s Buffalo Sabres, according to Sportico reporting.
Bills Valued at More Than $4 Billion
The current owners bought the Bills in 2014 for $1.4 billion, making a commitment to keep the team in Western New York. The organization is currently building a new stadium in Orchard Park for the Bills, next to the current stadium, which is expected to be ready for the 2026 season.
Forbes pegs the current value of the Buffalo Bills at $4.2 billion.
According to media reports the Pegulas have opened things up to minority investors. In a statement to Sportico, the Bills said “Earlier this year, the Pegula family retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills. Since 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. The Pegula family’s continued commitment to our fans across this region and beyond, Western New York, and the new Highmark Stadium remains unchanged. Neither the team nor the Pegula family can comment any further at this point.”
Carter Inducted Into Basketball Hall of Fame
There’s no comment at this time from Carter, McGrady, or Altidore.
An X post on September 23 showed the three of them in attendance for the Monday night game in Buffalo against the Jacksonville Jaguars.
It’s been a busy week for Carter who gave his Basketball Hall of Fame acceptance speech in Springfield, Mass. on Sunday night. Carter entered the hall as a Raptor, an organization where he starred from 1999 to 2004.
Altidore won a Major League Soccer championship with Toronto FC in 2017, and lists himself on his X profile as a “US soccer player, sports investor, and entrepreneur”. McGrady, who is Carter’s cousin, was inducted into the Basketball Hall of Fame in 2017, and played with the Raptors from 1997-2000.
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