NFL Owners Newly Endorse Private Equity Stakes

EAGAN, Minn. (AP) — 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 $4.65 billion and the Washington Commanders went for $6.05 billion. The NFL took this vote at a special meeting in Minnesota. It vetted three standalone funds and one consortium of five firms as the only allowable investors.