The Pegulas are putting a chunk of the Buffalo Bills up for sale.

The Bills confirmed to Tim Graham of The Athletic that owner Terry Pegula has hired Florida-based investment bankers Allen & Company to handle the potential transaction but declined to say how much of the team is being sold. A source briefed on the discussions said the working figure is 25 percent, with the number not set in stone.

“The Pegula family has retained Allen & Company to explore the potential sale of a non-controlling, minority interest in the Bills,” the team said Friday in a statement. “These discussions only involve the Bills and no other team.” No investment would be possible without Terry Pegula and the Pegula family maintaining a controlling interest in the team. Their continued commitment to Western New York, the new Highmark Stadium, our fans and the other teams in their portfolio remains unchanged.

“Neither the team nor the Pegula family are able to comment further at this point.”

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