As the 2024 NFL season nears, the league’s owners had some massive investment-related news to share on Tuesday.
The NFL’s owners have officially passed a vote that “lets certain firms buy up a stake of up to 10% in any of the 32 franchises,” per Dave Campbell of the American Press. Owners previously prohibited outside entities from purchasing stakes in the teams, whereas other leagues “allow as much as 30% holdings by private equity firms.”
As exciting as it is for potential investors, the league has placed limits on how firms can buy into teams.
For starters, interested parties must invest in at least 3% of the franchise and can’t put money into more than six teams. Investors must also have at least “$2 billion of committed capital to invest” and all investments must be held for at least six years.
“I think it’s an appropriate thing to give teams that liquidity to reinvest in the game and to their teams,” NFL Commissioner Roger Goodell said of the voting approval. “It’s an access to capital that has been of interest to us for a long time.”
As of Tuesday, the NFL has approved four different groups to partake in the new investment venture. Those firms are:
- Arctos Partners
- Ares Management Corporation
- Sixth Street Partners
- A group composed of Dynasty Equity, Blackstone, the Carlyle Group, CVC Capital Partners and Ludis
Goodell and the rest of the NFL have made it clear that they approved of the above firms because they have “capital ready to be used as soon as possible.”
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NFL Excited About New Investment Approval
Even though the ink on the deal is still wet, some of the NFL’s owners have already voiced their excitement regarding the new investment opportunities.
Kansas City Chiefs owner Clark Hunt said it was a “very positive day for the league” and that some owners “might have voted against it” one year ago.
“It’s something Roger did a really good job with at each meeting was making sure there was an update and really an educational process that went on with the whole ownership group.”
— Chiefs owner Clark Hunt
Denver Broncos CEO Greg Penner believes that the investment deal will “give [owners] different options for partners to work with.” Meanwhile, Dallas Cowboys owner Jerry Jones sees the situation as “a win for [football].”
“I know this: This is good for anybody that’s in love with the NFL, any part of it.”
Investments don’t happen overnight, though, so it might be some time before we see firms officially get their slice of the pie.
In the meantime, one thing is for sure: the NFL has never been more profitable than it is now and that won’t change anytime soon.
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