Jeffrey Lurie, the owner of the NFL’s Philadelphia Eagles, is reportedly exploring the possibility of selling a minority stake in the franchise, as reported by Bloomberg.
Lurie is collaborating with merchant bank BDT & MSD Partners to gauge interest from potential buyers interested in acquiring a portion of the team. The Eagles would command a valuation exceeding US$7.5 billion in such a transaction, setting a record for an NFL team.
Details regarding the size of the minority stake remain undisclosed, as discussions are reportedly in the early stages, and the completion of a deal is not guaranteed. Additionally, prospective investors would not have a pathway to obtain a controlling interest in the team.
Since 1994, Lurie has been the owner of the Eagles, purchasing the franchise for a reported US$185 million from Norman Braman, marking a then-record fee for a sports team transaction.
Lurie is not alone among NFL team owners considering the sale of a minority stake in their franchise. In April, the Pegula family, owners of the Buffalo Bills, confirmed their contemplation of selling a non-controlling, minority interest in the team, estimated at around 25 percent.
Furthermore, Miami Dolphins owner Stephen Ross was reportedly engaged in discussions last November regarding the sale of equity in the NFL franchise.
The growing interest from investors in the NFL coincides with the league’s efforts to establish a framework allowing private equity investment in its teams, with a vote anticipated later this year.
In April, reports suggested that the league might mandate institutional investors to establish NFL-specific funds, precluding them from investing in sports teams from other leagues. The NFL currently prohibits institutional investment, making it the only major US professional sports league with such a restriction.
