Jeffrey Lurie, owner of the NFL’s Philadelphia Eagles, is reportedly considering selling a minority stake in the franchise, as per Bloomberg. He is working with merchant bank BDT & MSD Partners to gauge interest from potential investors. The Eagles are valued at over $7.5 billion in any potential deal, which would set a record for an NFL team.
The size of the minority stake is currently unknown, and discussions are still in the early stages with no guarantee of a deal. Prospective buyers would not have a path to a controlling interest, according to Bloomberg.
Lurie, who bought the Eagles in 1994 for $185 million from Norman Braman, setting a then-record for a sports team transaction, is not alone in considering such a sale. In April, the Pegula family, owners of the Buffalo Bills, announced they were exploring the sale of a non-controlling minority interest, estimated at around 25 percent. Similarly, Stephen Ross, owner of the Miami Dolphins, was reported to be in talks to sell equity in the franchise last November.
Investor interest in the NFL is growing as the league moves towards allowing private equity investment in its teams, with a vote on this expected later in the year. In April, it was reported that the league might require institutional investors to create NFL-specific funds, preventing them from investing in teams from other leagues. The NFL is currently the only major US professional sports league that does not permit institutional investment.
