Pegula sells a stake in the Bills according to the Sports Business Journal

[GASabresIUFan]

https://www.sportsbusinessjournal.com/Articles/2024/11/18/nfl-private-equity-miami-dolphins-buffalo-bills?publicationSource=closingbell&issue=47e40ffb9cff4644a4bc230be8fb6958

Quote

 

A group of business executives with ties to the state of New York have a deal in place to buy 10.6% of the Bills alongside Arctos Partners, sources said, which will take 10% of the team if NFL owners approve the deal as expected.

Both the Bills’ proposed transaction and the Dolphins’ plans to sell 10% to Ares Management -- the first two deals permitted under the NFL’s new policy allowing institutional investment in teams -- are on the agenda for Tuesday’s NFL finance committee meeting, indicating a high probability of winning final approval from owners in December.

According to sources, the Bills buyers not previously known are:

Rob Palumbo (5.6%), co-managing partner of the private equity firm Accel-KKR

A group led by Theresia Gouw (2%), co-founder and managing partner of the venture firm Acrew Capital;

Sue McCollum (1.7%), CEO/owner of alcohol distributors Eagle Brand Sales and Double Eagle Distributing.

A group led by Tom Burger (1.4%), the co-founder and managing partner of Gridiron Capital. Burger’s group includes a trio of retired athletes who played in nearby Toronto -- Jozy Altidore, Vince Carter and Tracy McGrady -- whose pending purchase of Bills stakes had previously been reported by Sportico.

Alongside Ares in Miami, Nets co-owner Joe Tsai will buy 2.9% of the team, and Nets minority owner Oliver Weisberg will by 0.1% of the team.

 

 

Edited November 19 by GASabresIUFan

[ToGoGo]

Whoa. That’s a lot of minority owners all of a sudden. 

[WotAGuy]

“The Bills issued the following statement: “Earlier this year, the Pegula family retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills”

Josh has his hands in everything!  Bills’ new minority owner - Dawson Knox!

[Bruffalo]

Great, because as we all know, everything gets better when there's venture capitalists and private equity firms involved. 🤑

[Ridgewaycynic2013]

6 minutes ago, WotAGuy said:

“The Bills issued the following statement: “Earlier this year, the Pegula family retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills”

Josh has his hands in everything!  Bills’ new minority owner - Dawson Knox!

[Einstein]

8 minutes ago, Bruffalo said:

Great, because as we all know, everything gets better when there's venture capitalists and private equity firms involved. 🤑

 

Yeah, I don’t like it.

 

Not my money though.

[Augie]

It’s another form of liquidity, like Josh’s contract. I have no problem with it. 

[Sojourner]

I’d love to own something other than my house and an unnecessary truck 🫨

[HurlyBurly51]

With the stadium overrun costs, he might open it up even a little further.

[EasternOHBillsFan]

23 minutes ago, Bruffalo said:

Great, because as we all know, everything gets better when there's venture capitalists and private equity firms involved. 🤑

 

No kidding... they ruin everything their grubby hands touch. Very disappointing.

[Johnny Bravo]

1 minute ago, EasternOHBillsFan said:

 

No kidding... they ruin everything their grubby hands touch. Very disappointing.

I can't tell if this is sarcastic or not.  Without venture capital there is no Apple, Amazon, internet, etc.

 

The best idea in the world is absolutely worthless without the capital necessary to turn the idea into reality.

[Bimmer323i]

After building the stadium he might be hard up for a few bucks lol….But prolly not 

Edited November 19 by Bimmer323i

[Bruffalo]

5 minutes ago, Johnny Bravo said:

I can't tell if this is sarcastic or not.  Without venture capital there is no Apple, Amazon, internet, etc.

 

The best idea in the world is absolutely worthless without the capital necessary to turn the idea into reality.

There's a huge difference in investing in something new and buying into an established product with the assumption it will grow indefinitely. 

[ToGoGo]

6 minutes ago, Johnny Bravo said:

I can't tell if this is sarcastic or not.  Without venture capital there is no Apple, Amazon, internet, etc.

 

The best idea in the world is absolutely worthless without the capital necessary to turn the idea into reality.

VCs can be good. Private equity is almost never good. 

[EasternOHBillsFan]

22 minutes ago, Johnny Bravo said:

I can't tell if this is sarcastic or not.  Without venture capital there is no Apple, Amazon, internet, etc.

 

The best idea in the world is absolutely worthless without the capital necessary to turn the idea into reality.

 

I didn't need any of them in the 1980s, so why would I now? Sorry, but life was better back in the day... this century is shi*e.

[Freddie's Dead]

The company I work for is owned by KKR, who is systematically balkanizing the company into separate units that can be sold off piecemeal.  Their financial involvement in the Bills at any level is bad *****in' news.

[Saxum]

34 minutes ago, EasternOHBillsFan said:

 

No kidding... they ruin everything their grubby hands touch. Very disappointing.

 

Yes when I was in intensive care one of the doctors told me that they pressed to have people stay extra days since the rooms are major revenue for hospitals and insurance companies pay majority of costs.   Conflict of interest IMO but I guess not if like doctors selling useless supplements - as long as it does harm health it is not in conflict with Hippocratic Oath.

 

I guess the devil of venture capitalism is better than more PSLs or raise in price of remaining seats which if not sold to fans will be sold to ticket and travel agencies to pay for inflation cost of stadium.   I am sure fans would rather sell naming rights to new dome to stadium.

[Lost]

23 minutes ago, Freddie's Dead said:

The company I work for is owned by KKR, who is systematically balkanizing the company into separate units that can be sold off piecemeal.  Their financial involvement in the Bills at any level is bad *****in' news.

 

They never care about the product just the dollars they can extract from it.

[Mike in Horseheads]

Pegula's retain 90% of the team, the other 10% group really has no say in the operation of the franchise just looking to make money.  I have no problem with who ever owns that small share

[Saxum]

49 minutes ago, Freddie's Dead said:

The company I work for is owned by KKR, who is systematically balkanizing the company into separate units that can be sold off piecemeal.  Their financial involvement in the Bills at any level is bad *****in' news.

 

Hard to tell Companies KRR as claws in since many are holding companies which can own companies or shares of companies. You would need a recursive search and that entirely will not tell since some of the companies are in countries with laws shielding disclosures.  Already told financial advisor not to invest in such companies and he told it is hard and probably intensional to determine for they do not own just companies and shares of companies but they have loans to companies made so they would not buy out shares to take control of companies.   

https://www.sec.gov/Archives/edgar/data/1404912/000140491221000008/kkr-20201231xex211xsubsidi.htm