The future of the Buffalo Bills is in flux and changed ownership plans have been announced

The Pegula family has announced its intention to sell a minority stake in the Buffalo Bills, but current owners will still remain in control.

The Pegula family has put the Buffalo Bills up for sale(Getty)

The Pegula family, owners of the Buffalo Bills, has announced its intention to sell a minority stake in the NFL franchise. The Athletic reports that the family wants to fire 25% of the team while retaining majority control.

“The Pegula family has retained Allen and Company to explore the potential sale of a minority stake in the Bills,” a statement said.

The statement further clarified that only the bills are involved in these discussions and that for any investment, the Pegulas would have to retain a controlling interest. “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 can comment further at this time.”

The report also suggests that owner Terry Pegula could later decide to remove the minority stake from the sale. The high valuations of NFL franchises, along with estate taxes, have made exclusive ownership a challenge, leading the Pegula family to look for a limited partner.

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Last season was on track to be a standout year for the Buffalo Bills, who are among the twelve NFL teams yet to capture a Super Bowl title. They made it to the divisional round, but were eliminated by the eventual champions, the Kansas City Chiefs, in a surprising twist as they were the favorites to win.

The Chiefs continued their winning streak, defeating the Baltimore Ravens in the AFC Championship and then triumphing over the San Francisco 49ers in Las Vegas during Super Bowl LVIII. As 2024 approaches, Bills star quarterback Josh Allen is calling on his team to transform itself.

“It’s kind of crazy to think I’m going into my seventh season. It’s just another opportunity to be the man I’m meant to be and the man I believe I am,” Allen reflected.