BUFFALO, N.Y. (WIVB) — Sue McCollum grew up in Amherst as a diehard Bills fan. Theresia Gouw immigrated to Western New York when she was 3 years old. Vince Carter and Tracy McGrady are basketball legends and household names.
All could soon be minority owners of the Buffalo Bills, according to a report from Sports Business Journal.
Bills owners Terry and Kim Pegula have explored selling off a portion of the team since at least April. After the NFL approved new rules in August to allow private equity firms to invest in teams, teams like the Bills and Miami Dolphins have been clear about their desire to cash in and alter their ownership structure.
NFL Commissioner Roger Goodell told reporters in August that any new minority owners would function as silent partners and “will not be in any kind of decision-making influence in any way.”
The Pegulas bought the Bills for $1.4 billion in 2014. The value of the Bills has skyrocketed since then, and it looks like the Pegulas could recoup a number close to that original amount (projected to be around $1 billion) by selling 20-25% of the team.
So, what do we know about these potential new minority owners? Though unconfirmed by the team, SBJ reported a handful of names on Monday, along with their expected ownership percentages. When reached by WIVB News 4, the Bills said in part, “any potential investor cannot be confirmed or finalized until it is approved by the NFL.”
Rob Palumbo (5.6%)
Palumbo is the co-managing partner of the private equity firm Accel-KKR. For over 20 years, Accel-KKR has invested in software and tech companies. It has $19 billion in capital commitments.
SBJ reported that Palumbo would have the largest share of any individual minority owner. Palumbo is based in California.
Theresia Gouw (2%)
Gouw is the epitome of The American Dream. Her family moved from Indonesia to Western New York hoping to find a safer, better life in the United States. They settled in Western New York, where her father, a dentist, started over as a dishwasher. Her mother, a nurse, worked as a waitress.
Gouw is now one of the richest and most respected venture capitalists in the country. She was an early investor in Facebook before co-founding her own venture capital firm, Aspect Ventures, which included Melinda Gates as an investor. In 2019, Gouw co-founded Acrew Capital, which amassed $1.7 billion in assets in just five years.
In 2018, Forbes named her America’s richest female venture capitalist and also placed her on the “100 Most Powerful Women” list. Time Magazine called her one of the “40 Most Influential Minds in Tech.”