In a groundbreaking move under the NFL’s new ownership guidelines, former NBA stars Vince Carter and Tracy McGrady have joined the Buffalo Bills’ ownership group.
This marks the first time the franchise has brought in minority owners, with the announcement introducing 10 new partners, including the basketball Hall of Famers and former U.S. soccer star Jozy Altidore.
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The Bills’ decision follows the NFL’s approval of private equity investment in team ownership, a shift designed to attract diverse investors and address estate tax challenges faced by aging team owners.
This policy change allows franchises to sell up to 10% ownership stakes to private equity groups and individual investors.
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For Carter and McGrady, who are cousins and former Toronto Raptors teammates, joining the Bills represents a significant milestone.
Carter, who played 22 seasons in the NBA before retiring in 2020, expressed his excitement in a statement.
“It’s a huge honor to join this historic Bills organization,” Carter said.
“I’m truly thankful the Pegula family has given me the opportunity to help the franchise continue to grow and thrive in player growth, community service, and of course, winning the Lombardi Trophy. See you soon, Bills Mafia!”
McGrady, a seven-time NBA All-Star who spent 15 years in the league, called the opportunity a “dream come true.”
“Sports have been a lifelong passion, and the chance to contribute to such a top-tier organization is a true honor,” he said.
Private Equity enters the NFL game
The new ownership group includes private equity firm Arctos, which has stakes in various global sports leagues, as well as corporate executives and venture capitalists.
The value of the Bills franchise currently stands at $4.2 billion, according to Statista.
This development signals a new era for the NFL, with several teams, including the Miami Dolphins and Philadelphia Eagles, already embracing private equity investment.
As the league’s business continues to thrive, this model may pave the way for broader opportunities across franchises.
For the Bills, welcoming Carter, McGrady, and other stakeholders may provide fresh perspectives and resources as they aim for continued success both on and off the field.
