Vince Carter and Tracy McGrady join the Buffalo Bills' ownership, shaking up sports ownership!
- Vince Carter and Tracy McGrady have officially become minority owners of the Buffalo Bills, enhancing the team's ownership diversity.
- The Bills aim to leverage the sports stars' influence to expand their reach into the Canadian market, particularly benefiting from their Toronto Raptors legacy.
- The addition of these minority owners is part of a larger trend in the NFL that allows private equity investments, reflecting a significant shift in ownership structures.
In December 2024, the Buffalo Bills announced the addition of two NBA Hall of Famers, Vince Carter and Tracy McGrady, as minority owners. This significant move occurred during a meeting of NFL owners where the Bills added a total of ten non-voting minority owners. Carter and McGrady's entrance into the ownership group is expected to enhance the team's outreach, particularly in the Canadian market, capitalizing on their ties to the Toronto Raptors, where they both began their NBA careers. Carter was selected by the Raptors in 1998, while McGrady joined the team in 1997. The two former players are also related as second cousins, having played together for several years before McGrady's trade to the Orlando Magic in 2000. Buffalo Bills owner Terry Pegula expressed optimism about working with the NBA stars to expand the team's business in Toronto, reflecting on the Bills' longstanding relationship with this city. The Bills' connection to Toronto has been beneficial as the location is just 100 miles from Buffalo, allowing for a natural fanbase overlap. Besides McGrady and Carter, the Bills welcomed Jozy Altidore, a professional soccer player famed for his success with Toronto FC, adding further diversity to the ownership group. Altidore remarked on the honor of joining the franchise and emphasized his long-standing support for the team. Additionally, a private equity firm known as Arctos has also been included as a minority shareholder, marking a pioneering step as one of the first private equity investments in an NFL franchise. Arctos is recognized for its involvement with several professional sports organizations across different leagues, including NBA and MLB teams. Pegula highlighted the remarkable opportunity of having such a distinguished group of limited partners, which brings valuable industry experiences to the Bills' organization. The NFL's recent decision to permit investments from private equity funds has allowed teams like the Bills to diversify their ownership structure significantly. This strategic move aligns with a broader trend within the league aimed at modernizing ownership dynamics that have traditionally maintained stringent guidelines. The Bills' leadership is eager to integrate insights and experiences from their new owners, driving the franchise towards further success.