The NFL allowed teams to sell up to 10 percent of the franchise to private equity funds in August. One of the pre-approved firms could be buying a piece of the Buffalo Bills.
According to Bloomberg.com, via Sports Business Daily, Arctos Partners is currently in talks with the Bills about purchasing a portion of the team.
No deal has been reached yet, and “another suitor, or suitors, could emerge.” Owner Terry Pegula hopes to sell a non-controlling, minority stake.
The league pivoted to private equity in order to generate greater value for limited shares of NFL teams. Each team can sell up to 10 percent of the team to an approved fund. Each fund can hold up to 10 percent in up to six teams.
The consortium of funds that includes Hall of Fame running back Curtis Martin (who was sitting with the Commissioner on Monday night) can hold up to 10 percent in up to 12 teams.
