Report: Group of executives, private equity firm set to buy minority stakes in Bills

The Buffalo Bills' ownership group is set to receive additional parties.

Kyle Silagyi | Nov 18, 2024

Gregory Fisher-Imagn Images

In this story:

Buffalo Bills | News, Scores, Schedules & Standings

Additional parties are set to be added to the Buffalo Bills’ ownership group, as Sports Business Journal writer Ben Fischer reports that “a group of business executives with ties to the state of New York” has agreed to purchase 10.6% of the team while Arctos Partners, a private firm with investments in several professional sports franchises, is set to purchase 10% of the club. Neither the Bills organization nor the NFL are allowed to comment on the investments until they’re finalized and approved, but Fischer reports that the NFL is expected to authorize the transactions.

The group of “executives” set to take over a combined 10.6% of the club, per Fischer, consists of Rob Palumbo (5.6%), Sue McCullom (1.7%), and groups led by Theresia Gouw (2%) and Tom Burger (1.4%). The Burger group also includes NBA legends Vince Carter and Tracy McGrady in addition to former United States Men’s National Team striker Jozy Altidore; their interest in a minority stake was first reported in mid-October.

Arctos Partners, per their website, is “a private investment firm focused on creating valuable solutions to complex problems.” The enterprise, per Sportico, has either directly or indirectly invested in franchises across an array of sports, including the MLB’s Boston Red Sox, NBA’s Golden State Warriors, and the NHL’s Tampa Bay Lightning; it’s also invested in international soccer clubs Paris Saint-Germain F.C. and Liverpool F.C. and the Aston Martin Formula 1 team.

The firm, per its website, is “the first investment platform approved to invest in multiple franchises in MLB, NBA, NHL, MLS, and other global leagues;” as of April of 2024, Arctos had invested in six different MLB teams, four NBA teams, four NHL teams, and two MLS sides. It's set to purchase the maximum 10% stake that a private equity firm is permitted to acquire as part of the league's August measure; Arctos' interest was first reported in late October.

Charles LeClaire-Imagn Images

The Athletic reported in mid-April that Bills owner Terry Pegula was open to selling as much as 25% of the franchise, with COO Pete Guelli telling The Buffalo News in June that outside interest had been high. Should these sales be approved as expected, Pegula will be parting ways with roughly 20.6% of the club; the extra capital could prove useful quickly considering the team's new stadium in Orchard Park is reportedly more than half a billion dollars over its initial budget.

— Enjoy free coverage of the Bills from Buffalo Bills on SI —