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According to an AP source, former NBA star Vince Carter and Tracy McGrady are part of a group wanting to buy shares in the Buffalo Bills

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ORCHARD PARK, N.Y. (AP) – Former NBA stars Vince Carter and Tracy McGrady are amongst a group the NFL is considering purchasing non-controlling minority interest in the Buffalo Billsa person with knowledge of the league’s finance committee agenda told The Associated Press on Monday.

The person spoke to the AP on condition of anonymity because the league didn’t provide an agenda for Tuesday’s committee meeting. The committee can even consider Ares Management’s offer to buy a 10% stake in the Miami Dolphins, the person said.

Tracy McGrady speaks during her induction into the Naismith Memorial Basketball Hall of Fame, Friday, September 8, 2017, in Springfield, Massachusetts. (AP Photo/Stephan Savoia, FIle)

Sports Business Journal first reported that the commission was considering potential buyers.

Tom Brady was also on the agenda, the person said, in an expected sequel after the seven-time Super Bowl champion acquired a minority stake in the Las Vegas Raiders last month.

The Bills declined to comment on potential investors, saying in a statement that the process is ongoing and requires approval from the NFL.

Carter, McGrady and MLS player Jozy Altidore have joined Gridiron Capital managing partner Tom Burger in a consortium in search of to buy a 10.6% stake in the Bills, the person said. Gridiron Capital’s share could be roughly 1.4%.

As part of the deal, one other group, Arctos Partners, would buy a 10% stake in the Bills, leaving owners Terry and Kim Pegula to maintain a controlling stake in the team of greater than 79%.

Carter, 47, and McGrady, 45, are cousins, each were inducted into the Naismith Basketball Hall of Fame and spent two years as teammates with the Toronto Raptors. The two attended a Bills home game in September and toured the construction site where the Bills’ latest stadium is being built, across the street from the team’s current home. The stadium’s opening is scheduled for June 2026.

In April, the Pegulas family, which also owns the NHL’s Buffalo Sabers, announced it was exploring the possibility of selling a minority stake in the Bills.

The sale was seen as a way for the Pegulas to money in on the franchise’s growing value. The last valuation of the notes according to Forbes magazine was $4.2 billion. The Pegulas purchased the team in 2014 for a then-NFL record $1.4 billion from the estate of Hall of Fame owner and team founder Ralph Wilson.

Cost of bills the cost of the latest stadium increased to over $2.1 billionwith Pegulas on the hook for $1.25 billion, including an estimated $560 million in overruns.

Bills president Pete Guelli told the AP last week that the minority sale of the team was not tied to construction costs.

This article was originally published on : thegrio.com

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