Pegula family selling portion of Bills ownership stake: Sources

The Pegulas are putting a chunk of the up for sale. The Bills confirmed to The Athletic that owner Terry Pegula has hired Florida-based investment bankers Allen & Company to handle the potential transaction but declined to say how much of the team is being sold. A source briefed on the discussions said the working figure is 25 percent, with the number not set in stone.

” Three sources with direct knowledge of the process stressed Pegula eventually might not sell part of the Bills, but for the first time, he’s ready to welcome a limited partner. He might need to. Sole ownership has become less common in sports. As valuations skyrocket and estate taxes become more burdensome, owners have increased difficulty keeping teams within their families. Terry and Kim Pegula used cash to purchase the Bills in 2014 for a then-record $1.4 billion.

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