Former NBA stars Vince Carter and Tracy McGrady are part of a group being considered by the NFL to purchase a minority stake in the Buffalo Bills, according to a person familiar with the league’s finance committee agenda.
The person spoke to the Associated Press on the condition of anonymity because the NFL has not yet released the agenda for the upcoming meeting scheduled for Tuesday. The committee will also review Ares Management’s offer to buy 10% of the Miami Dolphins, the person added.
Sports Business Journal was the first to report on the potential buyers.
Tom Brady’s name is also on the agenda, as the seven-time Super Bowl champion is expected to be involved in a follow-up discussion after purchasing a minority stake in the Las Vegas Raiders last month.
The Buffalo Bills declined to comment on the possible investors, releasing a statement that said the process is still ongoing and needs NFL approval.
Carter, McGrady, and soccer player Jozy Altidore have teamed up with Tom Burger, managing partner of Gridiron Capital, in an effort to buy a 10.6% share of the Bills, the person said. Gridiron Capital’s portion would be about 1.4%.
As part of the deal, another group called Arctos Partners is set to buy a 10% stake in the Bills, while the team’s current owners, Terry and Kim Pegula, would still hold a controlling share of over 79%.
Carter, 47, and McGrady, 45, are cousins, both inducted into the Naismith Basketball Hall of Fame, and played together for two years with the Toronto Raptors. The two attended a Bills home game in September and toured the site where the team’s new stadium is being built across the street from their current home. The new stadium is expected to open in June 2026.
In April, the Pegulas, who also own the NHL’s Buffalo Sabres, announced they were considering selling a minority stake in the Bills.
The sale was seen as a way for the Pegulas to take advantage of the increasing value of the team. Forbes recently valued the Bills at $4.2 billion, a sharp rise from the $1.4 billion they paid for the team in 2014, when they bought it from the estate of Hall of Fame owner Ralph Wilson.
The cost of the Bills’ new stadium has grown to over $2.1 billion, with the Pegulas responsible for $1.25 billion, including an estimated $560 million in overruns.
Bills president Pete Guelli told the AP last week that the minority sale of the team is not linked to the stadium’s construction costs.
