In a move signaling a shift in NFL ownership dynamics, the Buffalo Bills have officially announced the addition of 10 new limited partners, a decision made during the NFL’s board meetings on Wednesday. This development is part of a larger trend among NFL teams looking to secure minority ownership stakes, particularly from high-profile figures and private equity firms.

Terry Pegula, the team’s owner, expressed his enthusiasm about the expanded ownership group in a statement posted on the Bills’ website. “This has been an incredible journey to add such an impressive and diverse group of limited partners, alongside a reputable private equity partner in Arctos, which has a proven track record with professional sports franchises,” said Pegula.

The newly minted minority owners include former NBA legends Tracy McGrady and Vince Carter, who join a growing list of former athletes stepping into ownership roles across the NFL. The pair’s involvement underscores a broader trend of sports icons leveraging their financial influence in the business side of professional sports.

In his statement, Pegula emphasized the significance of the new partners’ ties to the team and the region. “They all have achieved high levels of success in their respective industries, and we’re grateful for their interest in our team, our sport, and the future of the Buffalo Bills,” he said. “Most of them have a personal attachment with our team, Western New York, or Southern Ontario, which was a very important factor to me.”

This minority sale is not an isolated case. Several other notable former athletes have acquired stakes in NFL teams in recent years. Tom Brady holds a share of the Las Vegas Raiders, while tennis icons Venus and Serena Williams are minority owners of the Miami Dolphins. These moves reflect a growing trend among NFL owners to introduce new, influential partners while retaining majority control of their franchises.

As for the Buffalo Bills, the team’s current valuation hovers just above $4.2 billion, and the addition of these limited partners helps the Pegula family maintain control over the franchise while bringing in fresh capital.

While NFL ownership has traditionally been an exclusive club, this influx of minority owners, including business leaders and sports celebrities, marks a significant shift toward diversification and modernizing the financial structure of professional football teams. The sale is expected to further solidify the Bills’ financial future, positioning the team to continue its competitive success both on and off the field.