Buffalo Bills’ Owner Focused on Toronto to Raise Franchise Value

Buffalo Bills owner Terry Pegula says his focus is on Toronto when talking about further growth in the value of his team, with the announcement that 10 limited partners have joined the Bills’ ownership group, led by Toronto sports icons Vince Carter, Tracy McGrady, and Jozy Altidore. 

Tracy McGrady was confirmed as one of the new minority owners of the NFL s Buffalo Bills on Wednesday, along with Vince Carter and Jozy Altidore. (Image: BetVictor)

The announcement confirms on the move from October.

Bills Value Pegged at $4.2 Billion

Carter was inducted into the Basketball Hall of Fame in October, followed by having his jersey number retired by the Toronto Raptors, the team he entered the NBA with in 1999. Carter starred with the Raptors until his trade to the New Jersey Nets in 2004.

Altidore won a 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, who is Carter’s cousin, was inducted into the basketball hall of fame in 2017 and played with the Raptors from 1997-2000.

Sports and Entertainment Juggernaut

pegs the current value of the Bills at $4.2 billion.

As baseball super-agent Scott Boras said at the Major League Baseball Winter Meetings in Dallas on Wednesday, the Toronto sports market is a behemoth.

It’s a sport entertainment juggernaut and should be viewed as such,” .

The minority, noncontrolling owners were approved Wednesday by NFL team owners.

That s Our Market

“I just wanted to have some partners to help us grow,” Pegula told Tim Graham of “The three pro athletes are all icons in Toronto. That’s our market. We’re going to grow into that market. They know that. I’ve asked them about that, and they’re willing to help.”

The other seven investors are:

Arctos, a private investment firmRob Palumbo, co-managing partner of technology-focused private equity firm Accel-KKRSue McCollum, CEO and owner of beverage distribution companies Eagle Brand Sales and Double Eagle DistributingTheresia Gouw, co-founder and managing partner of venture capital firm Acrew CapitalRob Ward, co-founder, general partner of venture capital firm Meritech CapitalMike Joo, COO at Bank of AmericaTom Burger, co-founder and managing partner of the investment firm Gridiron CapitalBills Checkered History with Toronto

The Bills rely on the Toronto area for season ticket sales, pegged at 8,000 in a study in 2020. However Bills games at Toronto s Rogers Centre held from 2008 to 2012 (called the Bills Toronto Series ) were met with heavy criticism over issues like high ticket prices, plus the fact the Bills were terrible at the time. The Bills had a 1-5 record in the series. The games lacked energy and fan reaction to the series in Buffalo was negative.

This was all before Pegula came in as owner (2014), when there was uncertainty about the Bills future in Buffalo, with stories they might be moving to Toronto. One of Pegula s first moves as owner was to cancel the series.

Under Pegula, the Bills are now established as one of the NFL s top teams, in terms of their record anyway, and a new $2 billion stadium is currently being built in Orchard Park.

The Bills have consistently been one of the more popular targets for bettors in Ontario, according to licensed sportsbook operators.