DECEMBER 11: The Bills will take advantage of the new NFL rules regarding private equity, as these batch of investments received approval Wednesday morning at the latest owners meetings. Carter, McGrady and Altidore are among the 10 new partners acquiring minority stakes in the AFC East franchise. Bank of America’s Mike Joo and Meritech Capital’s Rob Ward round out the group, which also includes a private investment firm (Arctos).

NOVEMBER 28: Multiple teams around the NFL have either worked out agreements to sell non-controlling shares in their organizations or have at least looked into doing so. The Bills are in position to divest in the near future.

Deals are in place with a group of new would-be shareholders totaling 10.7% of the Bills, Ben Fisher of the Sports Business Journal reports. That collection of individuals is set to be joined by Arctos Partners, which will take on a 10% stake. The agreements could receive ratification as early as next month’s league meeting.

As Fisher notes, the group which is on track to acquire minority stakes includes Rob Palumbo (5.6% share), Theresia Gouw (2%), Sue McCollum (1.7%), and Tom Burger (1.4%). All have a business background from various sectors, and Burger’s group of investors includes NBA Hall of Famers Vince Carter and Tracy McGrady along with former Toronto FC player Jozy Altidore. Approval from at least 24 of the league’s 32 owners will be required for their respective purchases to go through.

“Earlier this year, the Pegula family retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills,” a team statement reads. “Since then, 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.”

Per Fisher’s report, financial terms – which will be tied to the Bills’ valuation – are not known. Provided the sales go through in the near future, majority owner Terry Pegula will be left with a stake of roughly 79% of the franchise he purchased in 2014. The 73-year-old will maintain control over the organization moving forward, but he could soon have a number of new partners.