Direct answer: As of November 2025, the Buffalo Bills are owned by Terry Pegula and a group of limited partners. Pegula, who purchased the team in 2014 after the passing of Ralph Wilson, leads the ownership group, and since then has sold portions of the franchise to multiple limited partners to form a broader ownership coalition while he and his family remain the controlling owners.

Context and nuances:

• Pegula’s initial purchase of the Bills was completed in 2014, with the Pegula family becoming the primary owners following Ralph Wilson Jr.’s passing.

• In 2024, reports indicated that Pegula received NFL approval to sell roughly 20% of the franchise to a slate of limited partners, creating a truly multi-owner structure for the Bills for the first time in the franchise’s history. The deal was structured to keep Pegula family control while bringing in outside investors, including notable entities and individuals.

• The ownership group has included various partners over time, with updates confirming new limited partners joining the coalition. The exact roster of partners can evolve as stakes change, but Pegula remains the controlling owner.

If you’d like, I can pull the latest updates on the current list of limited partners and any recent changes to the ownership share.