Vince Carter and Tracy McGrady are getting into the football business.
Basketball Hall of Famers are among a group of 10 minority stakeholders who could join the ownership group of the NFL’s Buffalo Bills. Former US men’s national team striker Jozy Altidore is also among the new shareholders.
McGrady and Carter are cousins who played as teammates on the Toronto Raptors early in their NBA careers. McGrady was one of Carter’s presenters at his Hall of Fame induction in October.
The Bills announced their new partners on Wednesday. Terry and Kim Pegula are principal owners of the team. The news marks the first time in the franchise’s history that it has brought in secondary shareholders.
The new ownership group includes private equity firm Arctos as well as several corporate executives and venture capitalists. According to Bill, Arctos also holds stakes in the NBA, NHL, MLB, MLS, NASCAR, Premier League and Formula One.
It is unclear how many shares each new shareholder owns. Forbes estimates the bills are worth $4.2 billion.
The Bills announced new ownership bets amid a new NFL landscape that for the first time allowed private equity investment in team ownership. The league has long shied away from private equity investment, but owners voted in August to allow private equity stakes of up to 10% in each team.
The Miami Dolphins and Philadelphia Eagles have also sold shares to private equity investors. Yahoo Sports’ Jory Epstein reported earlier Wednesday that Eagles owner Jeffrey Lurie sold an 8% stake in the team. The Dolphins announced Wednesday that owner Stephen Ross has sold 10% of the team to Ares Management and 3% to Brooklyn Nets owners Joe Tsai and Oliver Weisberg.