Posted date: December 12, 2024 09:26.
Last updated: 12 Dec 2024 09:58h.
Buffalo Bills owner Terry Pegula has announced a 10-member team led by Toronto sports icons Vince Carter, Tracy McGrady; Limited partners announced they have joined the Bills’ ownership group and said they are focused on Toronto as they talk about further growing the team’s value. Jozy Altidore.
Tracy McGrady was confirmed Wednesday as one of the new minority owners of the NFL’s Buffalo Bills, along with Vince Carter and Jozy Altidore. (Image: BetVictor)
The announcement confirms reports of relocation from October.
The value of the note is fixed at $4.2 billion.
Carter was inducted into the Basketball Hall of Fame in October, and his jersey number was later retired by the Toronto Raptors, the team he joined in the NBA in 1999. Carter played for the Raptors until 2004 when he was traded to the New Jersey Nets.
Altidore won the Major League Soccer Championship with Toronto FC in 2017 and lists himself on his X profile as a “US soccer player, sports investor, and entrepreneur.” McGrady, Carter’s cousin, was inducted into the Basketball Hall of Fame in 2017 and played for the Raptors from 1997 to 2000.
Sports and entertainment juggernaut
forbes The Bills’ current value is pegged at $4.2 billion.
As baseball super agent Scott Boras said Wednesday at the Major League Baseball Winter Meetings in Dallas, the Toronto sports market is huge.
This is a huge piece of sports entertainment and should be viewed as such. ” he told reporters.
On Wednesday, minority non-controlling ownership was approved by NFL team owners.
“That’s our market.”
“We just wanted a partner to help us grow,” Pegula told Tim Graham. Athletic. “All three pro athletes are Toronto icons. That’s our market. We’re going to grow into that market. They know that. I asked them about it. and they are happy to help.”
The other seven investors are:
Arctos, a private investment firm Rob Palumbo, co-managing partner of technology-focused private equity firm Accel-KKR Sue McCallum, CEO and owner of beverage distribution companies Eagle Brand Sales and Double Eagle Distributing Theresia Gouw, co-founder of Rob Ward, co-founder and managing partner of venture capital firm Acrew Capital, and general partner of venture capital firm Meritech Capital Mike Zhu, Chief Operating Officer, Bank of America Tom Berger, Co-Founder and Managing Partner of Gridiron Capital, an investment firm
The strange history of the Bills and Toronto
The Bills rely on the Toronto area for season ticket sales, which are pegged at 8,000 per year. postmedia However, the Bills games held at Toronto’s Rogers Center from 2008 to 2012 (known as the “Bills Toronto Series”) were canceled due to high ticket prices and the fact that the Bills’ record at the time was terrible. was exposed to severe criticism. The Bills finished with a record of 1 win and 5 losses in this series. The game lacked energy and fan reaction to the series in Buffalo was negative.
All of this was before Pegula took over as owner (in 2014), when there was uncertainty about the Bills’ future in Buffalo and talk of a potential move to Toronto. One of Pegula’s first actions as owner was to cancel the series.
Under Pegula, the Bills have now established themselves as one of the NFL’s top teams in terms of performance, and a new $2 billion stadium is currently under construction in Orchard Park.
Licensed sportsbook operators say the Bills are consistently one of the most popular targets for bettors in Ontario.
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