Carter, McGrady, Altidore in Talks to Buy Buffalo Bills Stake

Former NBA stars Vince Carter and Tracy McGrady, and former U.S. Soccer star Jozy Altidore, all of whom played in Toronto, are in talks to buy minority stakes in the Buffalo Bills, according to multiple people familiar with the negotiations who were granted anonymity because the details are private.

The club, which is owned by the Pegula family, has been seeking investors. Earlier this year the Bills said they’d hired Allen & Co. to help explore the sale of a non-control stake, which was reported to be around 25%. (The Pegulas separately own the NHL’s Buffalo Sabres, which are not involved).

Nothing has been signed and it is possible that the investments do not happen, the sources said. Attempts to reach Carter, McGrady and Altidore via their agents and representatives weren’t immediately successful.

“There has been a significant amount of interest, and our focus has been on finding the right partners for our organization. The process is ongoing, and any potential investor cannot be confirmed or finalized until it is approved by the NFL,” said the Bills in a statement. “The Pegula family’s continued commitment to our fans across this region and beyond, Western New York, and the new Highmark Stadium remains unchanged.”

The Bills are worth $5.08 billion, according to Sportico’s numbers, which are calculated as the valuation of a potential control stake. Minority stakes tend to trade at reduced valuations given the limited rights associated with their ownership, though they occasionally sell at a premium.

The trio of athletes all have ties to nearby Toronto, where the Bills have played a half dozen NFL regular season games. Both Carter and McGrady began their NBA careers with the Toronto Raptors; Altidore played seven seasons with MLS club Toronto FC. 

Small celebrity minority stake sales are more common in other leagues, like MLS and NWSL, where ownership rules are often more permissive and minority stakes cost significantly less. That said, the world’s richest sports league has loosened some of its rules in recent years. Former USA Gymnastics Olympian Dominique Dawes was part of a group of new LPs that bought into the Atlanta Falcons earlier this year. Former MVP Tom Brady’s bid to buy a minority stake in the Las Vegas Raiders is up for ownership approval at league meetings this week in Atlanta. 

Some of those deals also opened ownership ranks to more diverse investors, a stated priority of NFL commissioner Roger Goodell. Carter, McGrady and Altidore are all black, as are all four of the new Falcons LPs. Former NBA star Magic Johnson was part of the group that bought the Washington Commanders in 2023; politician Condoleezza Rice and F1 driver Lewis Hamilton were part of the group that bought the Denver Broncos in 2022.

Carter has cited Johnson as an inspiration for his off-court business ventures. McGrady’s post-NBA business projects include one-on-one league OBL Hoops; Altidore’s include an investment in TMRW Sports, the sports media company behind Tiger Woods and Rory McIlroy’s new golf venture TGL.

Billionaire Terry Pegula and his wife Kim paid $1.4 billion, an NFL record at the time, to buy the Bills in 2014, beating out competing bids from Donald Trump and Jon Bon Jovi. The franchise is building a $1.7 billion stadium adjacent to their current home in Orchard Park, N.Y. The state and county have committed up to $850 million in public money, and the team is on the hook for the balance and all cost overruns.

(This story has been updated with a statement from the Bills.)