Former NBA legends Vince Carter and Tracy McGrady are reportedly in discussions with the NFL regarding a potential minority stake acquisition in the Buffalo Bills, according to an insider familiar with the league’s financial commitments. This information surfaced on Monday, but the source requested anonymity since the league has yet to unveil the details of the upcoming finance committee’s meeting, which is scheduled for Tuesday. The committee is also set to review Ares Management’s proposal to purchase a 10% interest in the Miami Dolphins.
The news about the prospective buyers was initially reported by Sports Business Journal. Additionally, the agenda for the meeting includes a discussion about Tom Brady, following his acquisition of a minority stake in the Las Vegas Raiders last month.
The Bills organization has refrained from commenting on any potential investors, issuing a statement that they are currently in an active process that requires official NFL approval. It has been indicated that Carter, McGrady, and MLS player Jozy Altidore are collaborating with Gridiron Capital’s managing partner, Tom Burger, to pursue a 10.6% share of the Bills, with Gridiron Capital contributing approximately 1.4%.
To facilitate the transaction, another investment group, Arctos Partners, is considering acquiring a 10% stake in the Bills. This would allow the current owners, Terry and Kim Pegula, to retain a commanding interest in the team, holding more than 79% of the organization’s shares.
Carter, aged 47, and McGrady, who is 45, are cousins and have both been honored with induction into the Naismith Basketball Hall of Fame. They were teammates for two years while playing for the Toronto Raptors. Recently, the two attended a Buffalo Bills home game in September and visited the site of the new stadium currently under construction near the team’s existing venue, which is set to open in June 2026.
Earlier in April, the Pegulas, who also own the NHL’s Buffalo Sabres, announced their consideration of selling a minority stake in the Bills. This decision is seen as a strategic move to capitalize on the burgeoning value of the franchise. According to Forbes, the Bills’ current valuation stands at $4.2 billion, a significant increase from the $1.4 billion the Pegulas paid for the team in 2014, making it a record purchase at the time.
The financial outlay for the upcoming stadium has escalated to over $2.1 billion, with the Pegulas expected to cover $1.25 billion of that total, which includes an estimated $560 million in cost overruns. Bills president Pete Guelli clarified last week that this minority stake sale is not linked to the financial demands of the stadium construction project.