Terry Pegula looking to potentially sell minority stake of Bills

Orchard Park, N.Y. (WBEN) - A minority stake of the Buffalo Bills is now up for sale.

As first reported by Tim Graham of The Athletic, Bills owner Terry Pegula has hired the Florida-based investment bankers Allen & Company to handle the potential transaction of a non-controlling minority interest in the Bills. Graham adds the working figure of the stake is 25%, but that number not yet set in stone.

However, Graham does note his sources stressed that Pegula eventually might not sell part of the Bills, but he's potentially interested in welcoming a limited partner.

The following statement was given to WBEN by the Bills organization on Friday:

"The Pegula family has retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills.

"These discussions only involve the Bills and no other team. No investment would be possible without Terry Pegula and the Pegula family maintaining a controlling interest in the team. Their continued commitment to Western New York, the new Highmark Stadium, our fans, and the other teams in their portfolio remains unchanged.

"Neither the team nor the Pegula family are able to comment further at this point."