Historic Move in NFL Ownership
In a groundbreaking development for the NFL, two iconic basketball stars have made their entry into football ownership. Tracy McGrady and Vince Carter, both Hall of Famers, have joined the minority ownership group of the Buffalo Bills, as announced by the team on Wednesday.
A Diverse Group of Stakeholders
Joining McGrady and Carter in this new ownership venture is a group of ten minority stakeholders, which includes former U.S. men’s national soccer team player Jozy Altidore. This marks a significant milestone for the Bills, as it is the first time in the franchise’s history that the Pegula family has welcomed secondary shareholders. However, the Pegulas will continue to hold the primary ownership of the team.
The Role of Arctos in the Ownership Group
Additionally, the private equity firm Arctos has become part of this ownership group. Arctos has investments in various professional sports leagues, including the NHL, NBA, MLB, and MLS, signaling a broader interest in sports franchise ownership.
Valuation and Investment Insights
While the specific financial details of each new stakeholder’s investment remain undisclosed, Forbes currently values the Buffalo Bills at an impressive $4.2 billion. This substantial valuation underscores the growing financial landscape of professional sports.
A Family Legacy in Sports
For McGrady and Carter, this ownership opportunity is more than just a business venture; it’s a family affair. The two are cousins who began their professional careers as teammates with the Toronto Raptors. Their shared background in basketball adds a unique dynamic to their roles as owners.
NBA Achievements of McGrady and Carter
Tracy McGrady, a seven-time All-Star and two-time scoring champion, was inducted into the Basketball Hall of Fame in 2017. Over his 15-year career, he played for several teams, including the Toronto Raptors, Orlando Magic, and Houston Rockets, where he achieved remarkable success.
On the other hand, Vince Carter enjoyed a stellar 22-year NBA career, earning eight All-Star selections and two All-NBA honors. He spent the majority of his time with the Raptors, who recently retired his iconic No. 15 jersey. Carter’s scoring prowess, demonstrated by an average of 23.4 points per game over 403 games with Toronto, solidified his legacy in the sport before he retired after the 2019-20 season.
Conclusion
The addition of McGrady and Carter to the Buffalo Bills ownership group not only enhances the diversity of the franchise but also marks an exciting chapter in the intersection of basketball and football. As these sports legends transition from players to owners, their influence within the realm of professional sports is sure to grow.
