NFL owners have approved a rule allowing private equity investors in their teams. They voted to let certain league-sanctioned firms buy up a stake of up to 10% in the 32 franchises that are steadily soaring in value. The previously prohibited practice was studied for the past five years. During that time the Denver Broncos sold for $4.
Kansas City Chiefs owner Clark Hunt speaks on behalf of the NFL’s special committee on ownership policy in Eagan, Minn., Tuesday, Aug. 27, 2024. FILE - NFL Commissioner Roger Goodell announces a pick during the first round of the 2022 NFL Draft, April 28, 2022, in Las Vegas. Kansas City Chiefs owner Clark Hunt speaks on behalf of the NFL’s special committee on ownership policy in Eagan, Minn., Tuesday, Aug. 27, 2024.
The NFL with this vote permitted only four different groups to enter the arena: standalone firms Arctos Partners, Ares Management Corporation and Sixth Street, plus a consortium of five funds — Blackstone, Carlyle, CVC, Dynasty Equity and Ludis. The approved list could well be extended in the future, but these selections from the initial vetting process were made based on having the cash ready to go right away.
The NFL let MLB, MLS and the NBA and NHL go ahead on this front, content to take notes in a cautious approach with a steadfast goal of preserving the parameters of the single-owner structure that has seen several of its prominent franchises stay in the same family for generations. Controlling owners must own at least 30% of the team, and no more than 25 owners can be part of an ownership group.
There’s no reason for fans to be concerned that this new source of potential investors will affect any football operations, the league said.
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